Equitable Trust Co. Sells 2,702 Shares of NVIDIA Co. (NASDAQ:NVDA)

Equitable Trust Co. lowered its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 147,950 shares of the computer hardware maker’s stock after selling 2,702 shares during the quarter. NVIDIA comprises 1.2% of Equitable Trust Co.’s portfolio, making the stock its 20th biggest holding. Equitable Trust Co.’s holdings in NVIDIA were worth $17,967,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Lantz Financial LLC increased its stake in NVIDIA by 833.1% in the 2nd quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock worth $5,088,000 after buying an additional 36,774 shares in the last quarter. FLC Capital Advisors boosted its stake in shares of NVIDIA by 977.2% in the second quarter. FLC Capital Advisors now owns 24,560 shares of the computer hardware maker’s stock worth $3,034,000 after acquiring an additional 22,280 shares during the period. Sterling Group Wealth Management LLC purchased a new stake in shares of NVIDIA during the second quarter worth about $315,000. Chatham Capital Group Inc. grew its position in shares of NVIDIA by 899.0% during the second quarter. Chatham Capital Group Inc. now owns 221,464 shares of the computer hardware maker’s stock worth $27,360,000 after purchasing an additional 199,295 shares in the last quarter. Finally, Guardian Asset Advisors LLC raised its stake in NVIDIA by 1,068.3% during the 2nd quarter. Guardian Asset Advisors LLC now owns 52,656 shares of the computer hardware maker’s stock valued at $6,505,000 after purchasing an additional 48,149 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $139.67 on Tuesday. 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 stock’s fifty day moving average price is $139.63 and its 200-day moving average price is $127.36. The firm has a market cap of $3.42 trillion, a P/E ratio of 54.97, a P/E/G ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 12 month low of $47.32 and a 12 month high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 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 business 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 company’s revenue for the quarter was up 93.6% on a year-over-year basis. On average, equities research analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has authorized a stock 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 repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, 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 transaction of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 40,000 shares of NVIDIA stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the completion of the transaction, the director now directly owns 8,380,117 shares in the company, valued at approximately $1,014,077,958.17. The trade was a 0.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,391,886 shares of company stock valued at $181,666,050. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NVDA. Benchmark increased their price objective on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Craig Hallum raised their target price on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. TD Cowen boosted their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Wedbush raised their price objective on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, UBS Group lifted their target price on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA 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.