Signify Wealth Has $1.68 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Signify Wealth lowered its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 42.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,864 shares of the computer hardware maker’s stock after selling 10,052 shares during the quarter. NVIDIA accounts for 2.1% of Signify Wealth’s holdings, making the stock its 17th biggest position. Signify Wealth’s holdings in NVIDIA were worth $1,684,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. DHJJ Financial Advisors Ltd. raised its stake in shares of NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares in the last quarter. CGC Financial Services LLC acquired a new position in NVIDIA during the second quarter worth $26,000. Quest Partners LLC bought a new stake in NVIDIA during the second quarter worth $27,000. Christopher J. Hasenberg Inc acquired a new stake in NVIDIA in the third quarter valued at $27,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in shares of NVIDIA in the 2nd quarter valued at about $31,000. 65.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NVDA. Needham & Company LLC upped their target price on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Rosenblatt Securities restated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Monday, November 18th. Redburn Atlantic assumed coverage on NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price for the company. Evercore ISI boosted their target price on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Westpark Capital raised their price target on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Buying and Selling

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA 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 sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,628,156 shares of company stock worth $197,995,077 in the last 90 days. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $130.39 on Wednesday. NVIDIA Co. has a twelve month low of $47.32 and a twelve month high of $152.89. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock’s 50-day simple moving average is $139.79 and its 200 day simple moving average is $127.07. The firm has a market capitalization of $3.19 trillion, a PE ratio of 51.33, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue was up 93.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS. On average, analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

NVIDIA declared that its Board of Directors has initiated a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often 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.