Evernest Financial Advisors LLC Sells 21,578 Shares of NVIDIA Co. (NASDAQ:NVDA)

Evernest Financial Advisors LLC trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA) by 36.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 37,262 shares of the computer hardware maker’s stock after selling 21,578 shares during the quarter. NVIDIA accounts for about 1.2% of Evernest Financial Advisors LLC’s holdings, making the stock its 18th biggest holding. Evernest Financial Advisors LLC’s holdings in NVIDIA were worth $4,525,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in NVDA. China Universal Asset Management Co. Ltd. lifted its stake in shares of NVIDIA by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after acquiring an additional 13,135 shares during the last quarter. Intermede Investment Partners Ltd purchased a new position in NVIDIA in the 1st quarter worth approximately $153,294,000. ARK & TLK Investments LLC lifted its position in NVIDIA by 6.6% in the first quarter. ARK & TLK Investments LLC now owns 803 shares of the computer hardware maker’s stock valued at $726,000 after purchasing an additional 50 shares during the last quarter. Forge First Asset Management Inc. purchased a new stake in shares of NVIDIA during the first quarter valued at approximately $5,451,000. Finally, M&G Plc bought a new position in shares of NVIDIA in the first quarter worth approximately $20,886,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on NVDA. Evercore ISI upped their price target on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. William Blair assumed coverage on NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Susquehanna lifted their price target on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. upped their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Four 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total value of $13,291,200.00. Following the completion of the sale, the chief executive officer now owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. The trade was a 0.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,036,986 shares of company stock worth $240,602,399. 4.23% of the stock is owned by corporate insiders.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $135.34 on Friday. The stock has a market cap of $3.31 trillion, a price-to-earnings ratio of 53.28, a PEG ratio of 2.46 and a beta of 1.66. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $152.89. The stock’s 50 day moving average price is $135.61 and its 200 day moving average price is $123.34.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The company 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 business’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. Equities research analysts anticipate that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

NVIDIA declared that its board has initiated a share repurchase plan 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 repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.