NVIDIA Co. (NASDAQ:NVDA) Shares Sold by ForthRight Wealth Management LLC

ForthRight Wealth Management LLC cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 13.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,566 shares of the computer hardware maker’s stock after selling 414 shares during the quarter. ForthRight Wealth Management LLC’s holdings in NVIDIA were worth $312,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oak Ridge Investments LLC lifted its stake in shares of NVIDIA by 14.6% in the 3rd quarter. Oak Ridge Investments LLC now owns 827,306 shares of the computer hardware maker’s stock valued at $100,468,000 after purchasing an additional 105,548 shares during the last quarter. O ROURKE & COMPANY Inc lifted its stake in shares of NVIDIA by 18.4% in the 3rd quarter. O ROURKE & COMPANY Inc now owns 7,624 shares of the computer hardware maker’s stock valued at $926,000 after purchasing an additional 1,185 shares during the last quarter. Whelan Financial grew its stake in shares of NVIDIA by 11.2% in the third quarter. Whelan Financial now owns 16,339 shares of the computer hardware maker’s stock valued at $1,984,000 after buying an additional 1,647 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in shares of NVIDIA by 11.8% in the third quarter. AustralianSuper Pty Ltd now owns 5,524,590 shares of the computer hardware maker’s stock valued at $670,906,000 after buying an additional 581,813 shares in the last quarter. Finally, Rosenberg Matthew Hamilton grew its stake in shares of NVIDIA by 2.6% in the third quarter. Rosenberg Matthew Hamilton now owns 20,203 shares of the computer hardware maker’s stock valued at $2,453,000 after buying an additional 517 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. 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, November 21st. HSBC increased their price objective on NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Oppenheimer reiterated an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Stifel Nicolaus increased their price objective on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Susquehanna raised their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Trading Down 2.2 %

NASDAQ:NVDA opened at $134.25 on Friday. The business’s 50-day moving average is $139.76 and its two-hundred day moving average is $126.60. 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 12 month low of $47.32 and a 12 month high of $152.89. The firm has a market capitalization of $3.29 trillion, a PE ratio of 52.85, a price-to-earnings-growth ratio of 2.52 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations 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 prior year, the company posted $0.38 EPS. Research analysts predict that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be given a $0.01 dividend. 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 payout ratio is currently 1.57%.

NVIDIA declared that its board has approved a stock repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at NVIDIA

In other news, Director John Dabiri sold 716 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the transaction, the insider now owns 480,899 shares in the company, valued at approximately $65,056,016.72. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,628,156 shares of company stock valued at $197,995,077. Insiders own 4.23% of the company’s stock.

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.