Signify Wealth Has $1.68 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Signify Wealth cut its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 42.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,864 shares of the computer hardware maker’s stock after selling 10,052 shares during the quarter. NVIDIA comprises about 2.1% of Signify Wealth’s holdings, making the stock its 17th largest position. Signify Wealth’s holdings in NVIDIA were worth $1,684,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. DHJJ Financial Advisors Ltd. increased its holdings 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 worth $25,000 after purchasing an additional 190 shares in the last quarter. CGC Financial Services LLC acquired a new stake in shares of NVIDIA during the 2nd quarter worth approximately $26,000. Quest Partners LLC bought a new stake in shares of NVIDIA in the 2nd quarter valued at $27,000. Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA during the 3rd quarter valued at $27,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in NVIDIA in the second quarter worth $31,000. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research note on Monday, November 18th. Raymond James upped their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 14th. Oppenheimer restated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Morgan Stanley upped their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, Citigroup raised their price target on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $130.39 on Wednesday. NVIDIA Co. has a 12 month low of $47.32 and a 12 month high of $152.89. 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 has a market cap of $3.19 trillion, a P/E ratio of 51.33, a P/E/G ratio of 2.43 and a beta of 1.63. The company has a 50 day moving average of $139.79 and a 200 day moving average of $127.07.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for 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 business’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

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

Insider Transactions at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. This represents a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following 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 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,628,156 shares of company stock valued at $197,995,077. 4.23% of the stock is 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.