Lebenthal Global Advisors LLC Has $5.29 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Lebenthal Global Advisors LLC lowered its holdings in NVIDIA Co. (NASDAQ:NVDA) by 14.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 43,528 shares of the computer hardware maker’s stock after selling 7,593 shares during the quarter. NVIDIA accounts for about 1.1% of Lebenthal Global Advisors LLC’s investment portfolio, making the stock its 19th largest position. Lebenthal Global Advisors LLC’s holdings in NVIDIA were worth $5,286,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. TPG Advisors LLC raised its stake in shares of NVIDIA by 3.3% in the third quarter. TPG Advisors LLC now owns 6,296 shares of the computer hardware maker’s stock valued at $765,000 after purchasing an additional 200 shares in the last quarter. Absher Wealth Management LLC increased its holdings in NVIDIA by 14.1% in the 3rd quarter. Absher Wealth Management LLC now owns 6,813 shares of the computer hardware maker’s stock valued at $827,000 after buying an additional 843 shares during the period. Haverford Financial Services Inc. increased its holdings in NVIDIA by 3.8% in the 3rd quarter. Haverford Financial Services Inc. now owns 29,509 shares of the computer hardware maker’s stock valued at $3,584,000 after buying an additional 1,075 shares during the period. Nadler Financial Group Inc. raised its stake in shares of NVIDIA by 1.6% in the 3rd quarter. Nadler Financial Group Inc. now owns 71,876 shares of the computer hardware maker’s stock valued at $8,729,000 after buying an additional 1,138 shares in the last quarter. Finally, Valued Wealth Advisors LLC lifted its holdings in shares of NVIDIA by 9.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 2,764 shares of the computer hardware maker’s stock worth $336,000 after acquiring an additional 237 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wedbush increased their price target on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Stifel Nicolaus increased their target price on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Westpark Capital increased their target price on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Melius Research boosted their target price on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

Insiders Place Their Bets

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,628,156 shares of company stock worth $197,995,077. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 2.2 %

Shares of NASDAQ NVDA opened at $134.25 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market cap of $3.29 trillion, a P/E ratio of 52.85, a P/E/G ratio of 2.52 and a beta of 1.63. The firm has a 50 day moving average price of $139.76 and a 200 day moving average price of $126.60. NVIDIA Co. has a 52-week low of $47.32 and a 52-week high of $152.89.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period last year, the company posted $0.38 EPS. Analysts expect that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 1.57%.

NVIDIA declared that its board has authorized a share buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.