NVIDIA Co. (NASDAQ:NVDA) Position Decreased by Private Advisory Group LLC

Private Advisory Group LLC lessened its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 10.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 380,548 shares of the computer hardware maker’s stock after selling 45,946 shares during the quarter. NVIDIA comprises about 5.5% of Private Advisory Group LLC’s holdings, making the stock its 3rd biggest holding. Private Advisory Group LLC’s holdings in NVIDIA were worth $46,214,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA in the 2nd quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. boosted its stake in shares of NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares in the last quarter. FPC Investment Advisory Inc. acquired a new stake in NVIDIA in the first quarter valued at $26,000. CGC Financial Services LLC acquired a new stake in shares of NVIDIA in the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA during the first quarter worth $27,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NVDA shares. TD Cowen raised shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Wedbush restated an “outperform” rating and issued a $138.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. HSBC increased their target price on shares of NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. DA Davidson restated a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Truist Financial increased their price objective on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Five analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $147.00.

NVIDIA Stock Performance

NVIDIA stock opened at $148.29 on Wednesday. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $149.77. The firm has a market cap of $3.64 trillion, a P/E ratio of 69.62, a P/E/G ratio of 1.56 and a beta of 1.66. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average of $127.79 and a 200-day moving average of $118.90.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period last year, the company posted $0.25 EPS. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. Sell-side analysts expect that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its board has initiated a stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction on 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 owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,156,270 shares of company stock worth $254,784,327. Insiders own 4.23% of the company’s stock.

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.