NVIDIA Co. (NASDAQ:NVDA) Holdings Trimmed by Empire Financial Management Company LLC

Empire Financial Management Company LLC trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 19.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,243 shares of the computer hardware maker’s stock after selling 4,338 shares during the period. Empire Financial Management Company LLC’s holdings in NVIDIA were worth $2,215,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ironwood Wealth Management LLC. grew its holdings in shares of NVIDIA by 896.9% during the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after acquiring an additional 5,695 shares in the last quarter. Financial Guidance Group Inc. grew its holdings in shares of NVIDIA by 900.0% during the 2nd quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock valued at $445,000 after acquiring an additional 3,240 shares in the last quarter. Tobam grew its holdings in shares of NVIDIA by 811.4% during the 2nd quarter. Tobam now owns 41,489 shares of the computer hardware maker’s stock valued at $5,126,000 after acquiring an additional 36,937 shares in the last quarter. Great Diamond Partners LLC grew its holdings in shares of NVIDIA by 859.1% during the 2nd quarter. Great Diamond Partners LLC now owns 54,995 shares of the computer hardware maker’s stock valued at $6,794,000 after acquiring an additional 49,261 shares in the last quarter. Finally, Rather & Kittrell Inc. grew its holdings in shares of NVIDIA by 947.4% during the 2nd quarter. Rather & Kittrell Inc. now owns 6,777 shares of the computer hardware maker’s stock valued at $837,000 after acquiring an additional 6,130 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John Dabiri sold 716 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock valued at $146,506,958 over the last three months. 4.23% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NVDA shares. UBS Group lifted their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Truist Financial lifted their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Susquehanna lifted their price objective 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. TD Cowen lifted their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Needham & Company LLC lifted their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Four 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.63.

NVIDIA Stock Performance

NASDAQ NVDA opened at $140.83 on Wednesday. The stock has a market cap of $3.45 trillion, a P/E ratio of 55.42, a PEG ratio of 2.48 and a beta of 1.64. The company’s 50-day simple moving average is $138.84 and its 200 day simple moving average is $129.11. NVIDIA Co. has a twelve month low of $58.58 and a twelve month high of $153.13. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

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

NVIDIA Dividend Announcement

The company 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 of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is 1.57%.

About NVIDIA

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.