NVIDIA Co. (NASDAQ:NVDA) is Franklin Street Advisors Inc. NC’s 3rd Largest Position

Franklin Street Advisors Inc. NC cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 819,049 shares of the computer hardware maker’s stock after selling 719 shares during the period. NVIDIA makes up 6.7% of Franklin Street Advisors Inc. NC’s portfolio, making the stock its 3rd biggest position. Franklin Street Advisors Inc. NC’s holdings in NVIDIA were worth $99,465,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of NVDA. FPC Investment Advisory Inc. purchased a new stake in NVIDIA during the first quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of NVIDIA during the 1st quarter worth $27,000. HBC Financial Services PLLC bought a new stake in shares of NVIDIA during the 1st quarter valued at $30,000. TCTC Holdings LLC purchased a new stake in shares of NVIDIA in the 1st quarter worth $82,000. Finally, Slocum Gordon & Co LLP bought a new position in NVIDIA in the 1st quarter worth $98,000. 65.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Loop Capital reissued a “buy” rating and set a $175.00 price target on shares of NVIDIA in a report on Monday, August 26th. Redburn Atlantic assumed coverage on shares of NVIDIA in a report on Tuesday. They issued a “buy” rating and a $178.00 target price for the company. Melius Research lifted their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday. Piper Sandler increased their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Mizuho lifted their target price on shares of NVIDIA from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $147.00.

NVIDIA Stock Performance

NVDA stock opened at $148.29 on Wednesday. The firm has a market cap of $3.64 trillion, a price-to-earnings ratio of 69.62, a PEG ratio of 1.56 and a beta of 1.66. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $149.77. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The business’s fifty day simple moving average is $127.79 and its two-hundred day simple moving average is $118.90.

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

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given 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 was Thursday, September 12th. NVIDIA’s payout ratio is 1.88%.

NVIDIA announced that its Board of Directors has authorized a stock repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock worth $254,784,327 over the last three months. 4.23% of the stock is owned by corporate insiders.

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.