NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Miller Wealth Advisors LLC

Miller Wealth Advisors LLC cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,622 shares of the computer hardware maker’s stock after selling 629 shares during the quarter. NVIDIA accounts for 4.1% of Miller Wealth Advisors LLC’s investment portfolio, making the stock its 6th largest position. Miller Wealth Advisors LLC’s holdings in NVIDIA were worth $7,483,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVDA. Hoertkorn Richard Charles lifted its position in NVIDIA by 2.0% in the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after purchasing an additional 70 shares during the period. Total Wealth Planning LLC raised its stake in shares of NVIDIA by 3.6% during the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after buying an additional 78 shares in the last quarter. Boyd Watterson Asset Management LLC OH lifted its holdings in shares of NVIDIA by 0.3% in the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock valued at $3,653,000 after buying an additional 80 shares during the period. Pavion Blue Capital LLC boosted its stake in shares of NVIDIA by 0.4% in the third quarter. Pavion Blue Capital LLC now owns 21,650 shares of the computer hardware maker’s stock valued at $2,629,000 after buying an additional 80 shares in the last quarter. Finally, L. Roy Papp & Associates LLP grew its holdings in NVIDIA by 2.5% during the third quarter. L. Roy Papp & Associates LLP now owns 3,471 shares of the computer hardware maker’s stock worth $422,000 after acquiring an additional 85 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of recent analyst reports. Morgan Stanley raised their target price on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 11th. HSBC raised their price objective 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. Loop Capital restated a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research report on Wednesday, November 20th. Craig Hallum lifted their price target on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, William Blair assumed coverage on NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Four 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Trading Up 3.1 %

Shares of NVDA stock opened at $134.70 on Friday. NVIDIA Co. has a 1-year low of $47.32 and a 1-year high of $152.89. The firm’s 50-day simple moving average is $139.63 and its 200-day simple moving average is $127.25. The firm has a market cap of $3.30 trillion, a P/E ratio of 53.01, a PEG ratio of 2.43 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates 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%. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter last year, the business earned $0.38 EPS. As a group, equities analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA declared that its board has approved a share repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

NVIDIA Dividend Announcement

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

Insider Transactions at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s 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 transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now directly owns 480,899 shares of the company’s stock, valued at $65,056,016.72. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,556,986 shares of company stock worth $201,687,727 in the last three months. 4.23% of the stock is currently owned by company insiders.

About NVIDIA

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.