REDW Wealth LLC Sells 456 Shares of NVIDIA Co. (NASDAQ:NVDA)

REDW Wealth LLC decreased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,660 shares of the computer hardware maker’s stock after selling 456 shares during the quarter. REDW Wealth LLC’s holdings in NVIDIA were worth $1,659,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. DHJJ Financial Advisors Ltd. lifted its position in NVIDIA by 1,900.0% during the second 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 during the last quarter. CGC Financial Services LLC purchased a new position in shares of NVIDIA in the 2nd quarter worth approximately $26,000. Quest Partners LLC purchased a new position in shares of NVIDIA in the 2nd quarter worth approximately $27,000. Christopher J. Hasenberg Inc bought a new position in shares of NVIDIA during the 3rd quarter valued at approximately $27,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in NVIDIA during the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 1.7 %

Shares of NVIDIA stock opened at $132.00 on Tuesday. The stock has a market cap of $3.23 trillion, a PE ratio of 51.95, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The firm has a fifty day moving average price of $139.84 and a 200 day moving average price of $126.92. 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 1 year low of $47.32 and a 1 year high of $152.89.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping 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 business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter last year, the company earned $0.38 EPS. The business’s revenue was up 93.6% on a year-over-year basis. Equities research analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s payout ratio is currently 1.57%.

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

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of analyst reports. Citigroup boosted their price objective on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Truist Financial boosted their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Loop Capital reissued a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. Finally, Morgan Stanley lifted their price target on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Buying and Selling

In other news, 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 transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. The trade was a 1.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,628,156 shares of company stock valued at $197,995,077. 4.23% of the stock is owned by corporate insiders.

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.