NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Christensen King & Associates Investment Services Inc.

Christensen King & Associates Investment Services Inc. reduced its position in NVIDIA Co. (NASDAQ:NVDA) by 13.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,576 shares of the computer hardware maker’s stock after selling 2,280 shares during the quarter. NVIDIA comprises approximately 0.8% of Christensen King & Associates Investment Services Inc.’s investment portfolio, making the stock its 25th largest position. Christensen King & Associates Investment Services Inc.’s holdings in NVIDIA were worth $1,770,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Hamilton Wealth LLC raised its position in NVIDIA by 0.3% in the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after purchasing an additional 9 shares in the last quarter. FSA Wealth Management LLC raised its position in shares of NVIDIA by 3.0% during the 1st quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock worth $439,000 after acquiring an additional 14 shares in the last quarter. Clean Yield Group raised its position in shares of NVIDIA by 0.8% during the 1st quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker’s stock worth $1,622,000 after acquiring an additional 15 shares in the last quarter. Earnest Partners LLC raised its position in shares of NVIDIA by 1.5% during the 1st quarter. Earnest Partners LLC now owns 1,133 shares of the computer hardware maker’s stock worth $1,024,000 after acquiring an additional 17 shares in the last quarter. Finally, Aspect Partners LLC raised its position in shares of NVIDIA by 5.6% during the 1st quarter. Aspect Partners LLC now owns 320 shares of the computer hardware maker’s stock worth $289,000 after acquiring an additional 17 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Performance

NVIDIA stock opened at $138.25 on Friday. The stock has a fifty day moving average price of $136.05 and a 200 day moving average price of $123.67. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $152.89. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.39 trillion, a P/E ratio of 54.41, a PEG ratio of 2.45 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the previous year, the business earned $0.38 earnings per share. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. Equities research analysts anticipate that NVIDIA Co. will post 2.76 earnings per share for the current year.

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

NVIDIA Dividend Announcement

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

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $8,459,373,085.80. This trade represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Dabiri sold 716 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,036,986 shares of company stock valued at $240,602,399 over the last quarter. Company insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NVDA shares. Robert W. Baird raised their target price on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Melius Research raised their target price on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Benchmark lifted their price target on NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Piper Sandler lifted their price target on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, Citigroup lifted their price target on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

About NVIDIA

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.