NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Hazlett Burt & Watson Inc.

Hazlett Burt & Watson Inc. reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 20.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 21,191 shares of the computer hardware maker’s stock after selling 5,334 shares during the period. NVIDIA makes up approximately 1.2% of Hazlett Burt & Watson Inc.’s portfolio, making the stock its 14th biggest holding. Hazlett Burt & Watson Inc.’s holdings in NVIDIA were worth $2,571,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. CGC Financial Services LLC acquired a new position in NVIDIA in the second quarter valued at approximately $26,000. Quest Partners LLC purchased a new position in shares of NVIDIA during the 2nd quarter valued at approximately $27,000. Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA in the 3rd quarter valued at $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in NVIDIA during the second quarter worth $31,000. Finally, FPC Investment Advisory Inc. boosted its holdings in NVIDIA by 900.0% during the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock worth $34,000 after buying an additional 261 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Dabiri sold 716 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,628,156 shares of company stock worth $209,985,077 over the last ninety days. Corporate insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on NVDA. Benchmark upped their price objective on shares of NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Piper Sandler upped their price target on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Phillip Securities reiterated an “accumulate” rating and set a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Citigroup upped their target price on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, HSBC lifted their price target on shares of NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Stock Down 1.1 %

Shares of NASDAQ:NVDA opened at $128.91 on Thursday. The company has a market capitalization of $3.16 trillion, a price-to-earnings ratio of 50.73, a PEG ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89. The business has a 50-day moving average price of $139.72 and a 200 day moving average price of $127.08. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during 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%. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.38 earnings per share. Sell-side analysts expect that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

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.