NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. lowered its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 11.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 54,342 shares of the computer hardware maker’s stock after selling 7,073 shares during the quarter. NVIDIA comprises about 0.5% of Confluence Wealth Services Inc.’s investment portfolio, making the stock its 27th largest position. Confluence Wealth Services Inc.’s holdings in NVIDIA were worth $6,599,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NVDA. DHJJ Financial Advisors Ltd. lifted its stake in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the last quarter. Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA during the third quarter valued at $27,000. CGC Financial Services LLC bought a new position in NVIDIA in the 2nd quarter valued at about $26,000. Quest Partners LLC acquired a new position in NVIDIA during the 2nd quarter valued at about $27,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of NVIDIA during the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling

In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction on Monday, November 25th. The stock was 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 represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,628,156 shares of company stock worth $197,995,077 in the last three months. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $132.00 on Tuesday. NVIDIA Co. has a 52-week low of $47.32 and a 52-week high of $152.89. The company has a market cap of $3.23 trillion, a price-to-earnings ratio of 51.95, a PEG ratio of 2.43 and a beta of 1.63. The firm’s 50-day moving average is $139.84 and its 200-day moving average is $126.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 earnings per share. Equities research analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA announced that its board has approved a share repurchase 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 buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

NVIDIA Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Stifel Nicolaus lifted their price target on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Craig Hallum upped their price target on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Phillip Securities reaffirmed an “accumulate” rating and issued a $160.00 price objective (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Wells Fargo & Company upped their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, Sanford C. Bernstein raised their price objective on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

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.