LGT Financial Advisors LLC Reduces Position in NVIDIA Co. (NASDAQ:NVDA)

LGT Financial Advisors LLC trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA) by 12.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,550 shares of the computer hardware maker’s stock after selling 360 shares during the quarter. NVIDIA makes up about 0.8% of LGT Financial Advisors LLC’s portfolio, making the stock its 28th biggest position. LGT Financial Advisors LLC’s holdings in NVIDIA were worth $310,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVDA. Lantz Financial LLC boosted its holdings in shares of NVIDIA by 833.1% in the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock valued at $5,088,000 after purchasing an additional 36,774 shares during the period. Conrad Siegel Investment Advisors Inc. increased its holdings in NVIDIA by 1,039.8% during the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 8,024 shares of the computer hardware maker’s stock worth $991,000 after purchasing an additional 7,320 shares during the period. Allied Investment Advisors LLC bought a new stake in NVIDIA during the 2nd quarter valued at $322,000. Scott Capital Advisors LLC lifted its holdings in shares of NVIDIA by 1,279.1% in the 2nd quarter. Scott Capital Advisors LLC now owns 13,157 shares of the computer hardware maker’s stock worth $1,729,000 after buying an additional 12,203 shares during the period. Finally, Jacobs & Co. CA grew its position in shares of NVIDIA by 830.6% during the 2nd quarter. Jacobs & Co. CA now owns 344,454 shares of the computer hardware maker’s stock worth $42,553,000 after buying an additional 307,438 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, Director John Dabiri sold 716 shares of the company’s 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. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the sale, the chief financial officer now owns 3,351,572 shares in the company, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,556,986 shares of company stock worth $201,687,727 in the last three months. Company insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NVDA shares. Piper Sandler lifted their price objective on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Oppenheimer restated an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Melius Research upped their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. William Blair initiated coverage on shares of NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Finally, UBS Group upped their target price on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Price Performance

NASDAQ:NVDA opened at $134.70 on Friday. The firm’s fifty day moving average is $139.63 and its two-hundred day moving average is $127.25. The firm has a market cap of $3.30 trillion, a price-to-earnings ratio of 53.01, a PEG ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a one year low of $47.32 and a one year high of $152.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 114.83% and a net margin of 55.69%. The company’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 earnings per share. Research analysts expect that NVIDIA Co. will post 2.78 EPS for the current year.

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

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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 is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) 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.