Janney Capital Management LLC Has $12.92 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Janney Capital Management LLC lessened its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,397 shares of the computer hardware maker’s stock after selling 1,187 shares during the period. Janney Capital Management LLC’s holdings in NVIDIA were worth $12,921,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northern Financial Advisors Inc increased its stake in NVIDIA by 0.5% in the 3rd quarter. Northern Financial Advisors Inc now owns 18,409 shares of the computer hardware maker’s stock valued at $2,236,000 after buying an additional 86 shares during the last quarter. Private Wealth Partners LLC increased its stake in NVIDIA by 15.2% in the 3rd quarter. Private Wealth Partners LLC now owns 771,740 shares of the computer hardware maker’s stock valued at $93,720,000 after buying an additional 102,079 shares during the last quarter. Conning Inc. increased its stake in NVIDIA by 4.3% in the 3rd quarter. Conning Inc. now owns 215,543 shares of the computer hardware maker’s stock valued at $26,176,000 after buying an additional 8,921 shares during the last quarter. Optas LLC increased its stake in NVIDIA by 6.8% in the 3rd quarter. Optas LLC now owns 123,260 shares of the computer hardware maker’s stock valued at $14,969,000 after buying an additional 7,848 shares during the last quarter. Finally, Princeton Global Asset Management LLC increased its stake in NVIDIA by 19.3% in the 3rd quarter. Princeton Global Asset Management LLC now owns 19,635 shares of the computer hardware maker’s stock valued at $2,384,000 after buying an additional 3,174 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated 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. The trade was a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,628,156 shares of company stock worth $197,995,077 over the last 90 days. 4.23% of the stock is owned by company insiders.

NVIDIA Stock Performance

NVIDIA stock opened at $134.25 on Monday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.29 trillion, a PE ratio of 52.85, a P/E/G ratio of 2.52 and a beta of 1.63. The firm has a fifty day simple moving average of $139.76 and a two-hundred day simple moving average of $126.77. NVIDIA Co. has a twelve month low of $47.32 and a twelve month high of $152.89.

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

NVIDIA announced that its board has approved a share buyback plan 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 plans are typically an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a dividend of $0.01 per share. 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 is currently 1.57%.

Analyst Ratings Changes

NVDA has been the subject of a number of research reports. Phillip Securities reissued an “accumulate” rating and set a $160.00 target price (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. TD Cowen increased their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Evercore ISI increased their target price on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Mizuho increased their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, UBS Group increased their target price on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target 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.