Resources Management Corp CT ADV Sells 3,770 Shares of NVIDIA Co. (NASDAQ:NVDA)

Resources Management Corp CT ADV trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,280 shares of the computer hardware maker’s stock after selling 3,770 shares during the period. NVIDIA comprises approximately 1.2% of Resources Management Corp CT ADV’s investment portfolio, making the stock its 20th largest holding. Resources Management Corp CT ADV’s holdings in NVIDIA were worth $9,142,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. M&T Bank Corp increased its stake in shares of NVIDIA by 5.1% during the 3rd quarter. M&T Bank Corp now owns 3,858,775 shares of the computer hardware maker’s stock worth $468,609,000 after purchasing an additional 186,652 shares during the last quarter. Guardian Wealth Management Inc. grew its holdings in NVIDIA by 428.5% during the third quarter. Guardian Wealth Management Inc. now owns 1,982 shares of the computer hardware maker’s stock valued at $241,000 after purchasing an additional 1,607 shares during the period. Abel Hall LLC increased its position in NVIDIA by 4.5% in the third quarter. Abel Hall LLC now owns 27,718 shares of the computer hardware maker’s stock worth $3,366,000 after buying an additional 1,199 shares during the last quarter. Nabity Jensen Investment Management Inc bought a new stake in shares of NVIDIA in the third quarter valued at $4,771,000. Finally, Continuum Advisory LLC lifted its position in shares of NVIDIA by 0.6% during the 3rd quarter. Continuum Advisory LLC now owns 87,022 shares of the computer hardware maker’s stock valued at $10,568,000 after buying an additional 543 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Up 3.1 %

Shares of NASDAQ:NVDA opened at $137.71 on Tuesday. The stock has a market capitalization of $3.37 trillion, a P/E ratio of 54.20, a price-to-earnings-growth ratio of 2.45 and a beta of 1.64. The stock’s 50-day moving average price is $138.99 and its 200-day moving average price is $129.05. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $56.11 and a 12-month high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping 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 business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same period last year, the company earned $0.38 EPS. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. On average, equities analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were issued 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 yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

Insider Buying and Selling at NVIDIA

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NVDA. Melius Research lifted their price objective on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Truist Financial lifted their target price on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Susquehanna upped their price target on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Stifel Nicolaus lifted their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Morgan Stanley increased their target price on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. 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 company. According to MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average target price of $164.63.

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.