Resolute Advisors LLC Sells 9,146 Shares of NVIDIA Co. (NASDAQ:NVDA)

Resolute Advisors LLC trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA) by 34.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,104 shares of the computer hardware maker’s stock after selling 9,146 shares during the quarter. NVIDIA comprises about 0.4% of Resolute Advisors LLC’s investment portfolio, making the stock its 18th biggest holding. Resolute Advisors LLC’s holdings in NVIDIA were worth $2,077,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. CGC Financial Services LLC purchased a new stake in NVIDIA during the 2nd quarter valued at $26,000. Quest Partners LLC bought a new position in shares of NVIDIA in the second quarter worth approximately $27,000. Christopher J. Hasenberg Inc purchased a new position in shares of NVIDIA in the third quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of NVIDIA in the second quarter worth $31,000. Finally, FPC Investment Advisory Inc. grew its position in shares of NVIDIA by 900.0% during the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock valued at $34,000 after purchasing an additional 261 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on NVDA. Morgan Stanley lifted their target price on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Cantor Fitzgerald restated an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. Oppenheimer reiterated an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Wedbush increased their target price on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, Mizuho increased their price target on shares of NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 40,000 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $121.01, for a total value of $4,840,400.00. Following the completion of the transaction, the director now owns 8,380,117 shares in the company, valued at approximately $1,014,077,958.17. This represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,391,886 shares of company stock worth $181,666,050. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 0.4 %

NASDAQ NVDA opened at $140.22 on Wednesday. The stock’s 50 day simple moving average is $139.66 and its 200 day simple moving average is $127.49. 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 Co. has a one year low of $47.32 and a one year high of $152.89. The firm has a market cap of $3.43 trillion, a PE ratio of 55.18, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63.

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

NVIDIA Announces Dividend

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

NVIDIA announced that its Board of Directors has initiated a stock buyback 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 purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA 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.