Lakeridge Wealth Management LLC Sells 2,183 Shares of NVIDIA Co. (NASDAQ:NVDA)

Lakeridge Wealth Management LLC trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA) by 4.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 46,740 shares of the computer hardware maker’s stock after selling 2,183 shares during the period. NVIDIA accounts for about 3.1% of Lakeridge Wealth Management LLC’s investment portfolio, making the stock its 9th largest position. Lakeridge Wealth Management LLC’s holdings in NVIDIA were worth $5,676,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Diversified Trust Co lifted its holdings in NVIDIA by 1.5% in the 3rd quarter. Diversified Trust Co now owns 633,263 shares of the computer hardware maker’s stock valued at $76,903,000 after purchasing an additional 9,455 shares in the last quarter. Cora Capital Advisors LLC lifted its holdings in NVIDIA by 4.3% in the 3rd quarter. Cora Capital Advisors LLC now owns 10,975 shares of the computer hardware maker’s stock valued at $1,333,000 after purchasing an additional 448 shares in the last quarter. WealthBridge Capital Management LLC lifted its holdings in NVIDIA by 19.4% in the 3rd quarter. WealthBridge Capital Management LLC now owns 53,266 shares of the computer hardware maker’s stock valued at $6,469,000 after purchasing an additional 8,637 shares in the last quarter. GAMMA Investing LLC lifted its holdings in NVIDIA by 24.3% in the 3rd quarter. GAMMA Investing LLC now owns 355,709 shares of the computer hardware maker’s stock valued at $43,197,000 after purchasing an additional 69,642 shares in the last quarter. Finally, waypoint wealth counsel lifted its holdings in NVIDIA by 15.9% in the 3rd quarter. waypoint wealth counsel now owns 20,830 shares of the computer hardware maker’s stock valued at $2,530,000 after purchasing an additional 2,852 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. DA Davidson reiterated a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Wedbush reiterated an “outperform” rating and set a $138.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. HSBC increased their price objective on shares of NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Wells Fargo & Company raised their price target on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, UBS Group restated a “buy” rating and issued a $150.00 price target on shares of NVIDIA in a report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $143.07.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $104.83, for a total transaction of $12,579,600.00. Following the sale, the chief executive officer now owns 76,614,995 shares in the company, valued at approximately $8,031,549,925.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,276,270 shares of company stock worth $267,363,927. 4.23% of the stock is owned by corporate insiders.

NVIDIA Stock Performance

NVDA stock opened at $145.61 on Thursday. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $146.49. The stock’s fifty day moving average is $126.08 and its two-hundred day moving average is $117.25. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock has a market capitalization of $3.57 trillion, a price-to-earnings ratio of 68.36, a PEG ratio of 1.43 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.25 earnings per share. On average, research analysts predict that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

NVIDIA announced that its board has initiated a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are 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.