Northeast Financial Consultants Inc Sells 1,414 Shares of NVIDIA Co. (NASDAQ:NVDA)

Northeast Financial Consultants Inc lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 173,131 shares of the computer hardware maker’s stock after selling 1,414 shares during the quarter. NVIDIA makes up 0.9% of Northeast Financial Consultants Inc’s portfolio, making the stock its 24th largest holding. Northeast Financial Consultants Inc’s holdings in NVIDIA were worth $21,025,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of NVDA. Legal & General Group Plc raised its stake in NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after acquiring an additional 191,469,114 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of NVIDIA by 3.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock valued at $21,908,236,000 after purchasing an additional 6,526,200 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of NVIDIA by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock valued at $17,738,630,000 after buying an additional 2,042,348 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after buying an additional 91,867,031 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in NVIDIA by 3.5% in the 3rd quarter. Fisher Asset Management LLC now owns 96,720,707 shares of the computer hardware maker’s stock worth $11,745,763,000 after buying an additional 3,283,380 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA opened at $137.71 on Monday. The stock has a 50-day moving average of $138.99 and a two-hundred day moving average of $129.04. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market cap of $3.37 trillion, a P/E ratio of 54.20, a P/E/G ratio of 2.45 and a beta of 1.64. NVIDIA Co. has a one year low of $56.11 and a one year high of $153.13.

NVIDIA (NASDAQ:NVDA) last issued its 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. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 earnings per share. As a group, research analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

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

Insider Activity

In related news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock valued at $146,506,958 in the last quarter. 4.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Truist Financial boosted their price target on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Raymond James upped their target price on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. Citigroup lifted their price target on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Oppenheimer reissued an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. boosted their target price on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Four equities 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. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $164.63.

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.