Platform Technology Partners Lowers Stake in NVIDIA Co. (NASDAQ:NVDA)

Platform Technology Partners cut its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,057 shares of the computer hardware maker’s stock after selling 2,167 shares during the quarter. NVIDIA accounts for about 2.8% of Platform Technology Partners’ portfolio, making the stock its 4th largest position. Platform Technology Partners’ holdings in NVIDIA were worth $8,872,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quest Partners LLC purchased a new stake in shares of NVIDIA in the second quarter worth approximately $27,000. Christopher J. Hasenberg Inc purchased a new position in shares of NVIDIA during the third quarter worth about $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of NVIDIA in the 2nd quarter worth approximately $31,000. FPC Investment Advisory Inc. increased its stake in shares of NVIDIA by 900.0% in 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 during the period. Finally, West Financial Advisors LLC bought a new position in NVIDIA in the 3rd quarter worth $36,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Performance

NVDA opened at $137.01 on Friday. The business has a 50 day moving average of $139.97 and a 200-day moving average of $127.95. 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 has a market cap of $3.36 trillion, a price-to-earnings ratio of 53.92, a PEG ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89.

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

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

Insider Activity

In other news, Director John Dabiri sold 716 shares of the business’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 value of $101,672.00. Following the sale, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 completion of the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,351,886 shares of company stock worth $176,825,650 over the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of research analyst reports. Robert W. Baird lifted their price target on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Redburn Atlantic assumed coverage on NVIDIA in a research report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price objective for the company. Citigroup boosted their target price on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Bank of America restated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Stifel Nicolaus raised their price target on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $164.15.

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.