NVIDIA Co. (NASDAQ:NVDA) is Optimum Investment Advisors’ 3rd Largest Position

Optimum Investment Advisors cut its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.1% during the 3rd quarter, Holdings Channel reports. The firm owned 100,745 shares of the computer hardware maker’s stock after selling 6,590 shares during the quarter. NVIDIA makes up approximately 5.3% of Optimum Investment Advisors’ holdings, making the stock its 3rd largest holding. Optimum Investment Advisors’ holdings in NVIDIA were worth $12,234,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NVDA. Lowe Wealth Advisors LLC purchased a new position in NVIDIA in the 2nd quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. boosted its holdings in shares of NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the period. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA in the first quarter valued at $26,000. CGC Financial Services LLC bought a new stake in shares of NVIDIA during the 2nd quarter valued at $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA during the 1st quarter worth about $27,000. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Loop Capital restated a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Wednesday. Evercore ISI raised their price target on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday. Redburn Atlantic initiated coverage on shares of NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, TD Cowen upped their target price on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday. Five equities research 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $160.82.

NVIDIA Price Performance

NVDA stock opened at $146.71 on Friday. The firm has a market cap of $3.60 trillion, a P/E ratio of 68.81, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $152.89. The stock has a 50-day simple moving average of $133.55 and a 200-day simple moving average of $121.72.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.38 earnings per share. On average, equities analysts predict that NVIDIA Co. will post 2.68 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

NVIDIA declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was a 1.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $105.33, for a total value of $12,639,600.00. Following the sale, the chief executive officer now directly owns 75,895,836 shares in the company, valued at approximately $7,994,108,405.88. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock valued at $254,784,327 over the last quarter. Insiders own 4.23% of the company’s stock.

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.