Triton Wealth Management PLLC Sells 19,089 Shares of NVIDIA Co. (NASDAQ:NVDA)

Triton Wealth Management PLLC reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 28.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 48,815 shares of the computer hardware maker’s stock after selling 19,089 shares during the quarter. NVIDIA makes up 3.2% of Triton Wealth Management PLLC’s holdings, making the stock its 6th largest holding. Triton Wealth Management PLLC’s holdings in NVIDIA were worth $5,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Hamilton Wealth LLC increased its holdings in shares of NVIDIA by 0.3% during the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after buying an additional 9 shares in the last quarter. Curran Financial Partners LLC grew its position in NVIDIA by 1.8% during the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after acquiring an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC increased its holdings in NVIDIA by 2.6% during the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after purchasing an additional 12 shares in the last quarter. Poehling Capital Management INC. raised its position in NVIDIA by 0.9% in the 1st quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock valued at $1,442,000 after purchasing an additional 14 shares during the last quarter. Finally, FSA Wealth Management LLC boosted its stake in NVIDIA by 3.0% in the first quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock worth $439,000 after purchasing an additional 14 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Performance

NVDA opened at $139.91 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 65.62, a P/E/G ratio of 1.43 and a beta of 1.66. The business’s 50-day moving average price is $125.68 and its two-hundred day moving average price is $117.05. NVIDIA Co. has a 1 year low of $44.90 and a 1 year high of $144.42.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the previous year, the business posted $0.25 EPS. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. Equities analysts expect that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.88%.

NVIDIA declared that its board has authorized a stock 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 purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

NVDA has been the subject of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $140.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Wedbush reiterated an “outperform” rating and set a $138.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. DA Davidson reissued a “neutral” rating and issued a $90.00 price target on shares of NVIDIA in a report on Thursday, August 29th. KeyCorp boosted their price objective on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Finally, Westpark Capital increased their price objective on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $104.83, for a total value of $12,579,600.00. Following the completion of the sale, the chief executive officer now owns 76,614,995 shares of the company’s stock, valued at approximately $8,031,549,925.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction 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 owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,276,270 shares of company stock valued at $267,363,927 in the last three months. 4.23% of the stock is currently owned by corporate insiders.

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.