Golden State Equity Partners Sells 51,242 Shares of NVIDIA Co. (NASDAQ:NVDA)

Golden State Equity Partners decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 20.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,618 shares of the computer hardware maker’s stock after selling 51,242 shares during the period. NVIDIA accounts for approximately 5.4% of Golden State Equity Partners’ investment portfolio, making the stock its 2nd largest position. Golden State Equity Partners’ holdings in NVIDIA were worth $24,363,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Institutional & Family Asset Management LLC grew its stake in NVIDIA by 248.1% during the 2nd quarter. Institutional & Family Asset Management LLC now owns 7,178 shares of the computer hardware maker’s stock worth $887,000 after purchasing an additional 12,024 shares in the last quarter. HBW Advisory Services LLC grew its position in shares of NVIDIA by 999.6% during the second quarter. HBW Advisory Services LLC now owns 27,313 shares of the computer hardware maker’s stock worth $3,374,000 after buying an additional 24,829 shares in the last quarter. Stokes Family Office LLC increased its stake in shares of NVIDIA by 1,378.1% during the second quarter. Stokes Family Office LLC now owns 23,901 shares of the computer hardware maker’s stock worth $2,953,000 after buying an additional 22,284 shares during the period. Collective Family Office LLC raised its holdings in NVIDIA by 1,024.8% in the second quarter. Collective Family Office LLC now owns 15,590 shares of the computer hardware maker’s stock valued at $1,926,000 after acquiring an additional 14,204 shares in the last quarter. Finally, Heritage Wealth Partners LLC lifted its stake in NVIDIA by 1,428.8% in the second quarter. Heritage Wealth Partners LLC now owns 34,322 shares of the computer hardware maker’s stock worth $4,240,000 after acquiring an additional 32,077 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on NVDA. Sanford C. Bernstein raised their price target on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Citigroup raised their target price on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. The Goldman Sachs Group upped their price target on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Craig Hallum upped their target price on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Susquehanna upped their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

Insider Activity at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on 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 in the company, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Dabiri sold 716 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,556,986 shares of company stock worth $188,359,199. 4.23% of the stock is owned by insiders.

NVIDIA Stock Performance

NVDA stock opened at $139.31 on Thursday. The stock has a market capitalization of $3.41 trillion, a PE ratio of 54.85, a price-to-earnings-growth ratio of 2.58 and a beta of 1.63. The stock’s 50 day simple moving average is $138.87 and its 200 day simple moving average is $126.24. NVIDIA Co. has a 12-month low of $46.05 and a 12-month 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.

NVIDIA (NASDAQ:NVDA) last announced 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 net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter last year, the firm posted $0.38 EPS. The business’s quarterly revenue was up 93.6% compared to the same quarter last year. As a group, research analysts forecast that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA announced that its board has approved a share repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued 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 payout ratio is currently 1.57%.

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.