Ellenbecker Investment Group Lowers Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Ellenbecker Investment Group lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,177 shares of the computer hardware maker’s stock after selling 666 shares during the quarter. NVIDIA comprises about 0.5% of Ellenbecker Investment Group’s holdings, making the stock its 22nd largest position. Ellenbecker Investment Group’s holdings in NVIDIA were worth $2,693,000 as of its most recent filing with the Securities & Exchange Commission.

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

NVIDIA Trading Down 3.2 %

Shares of NVIDIA stock opened at $141.95 on Friday. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $152.89. The firm has a market cap of $3.48 trillion, a PE ratio of 66.58, a P/E/G ratio of 1.54 and a beta of 1.66. The business’s fifty day moving average is $134.01 and its two-hundred day moving average is $122.06. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the prior year, the company posted $0.38 EPS. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. Analysts anticipate that NVIDIA Co. will post 2.68 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is currently 1.88%.

NVIDIA declared that its Board of Directors has authorized a stock repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NVDA. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Thursday. Morgan Stanley lifted their price objective on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Barclays lifted their price objective on NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday. Westpark Capital lifted their price objective on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, DA Davidson lifted their price objective on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a report on Friday. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.15.

Insider Buying and Selling

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This trade represents a 0.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $105.33, for a total value of $12,639,600.00. Following the completion of the transaction, the chief executive officer now directly owns 75,895,836 shares in the company, valued at $7,994,108,405.88. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is currently owned by company insiders.

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.