Greenwood Capital Associates LLC Sells 200 Shares of NVIDIA Co. (NASDAQ:NVDA)

Greenwood Capital Associates LLC decreased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,405 shares of the computer hardware maker’s stock after selling 200 shares during the period. Greenwood Capital Associates LLC’s holdings in NVIDIA were worth $899,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. CGC Financial Services LLC purchased a new stake in NVIDIA in the second quarter worth about $26,000. Quest Partners LLC purchased a new stake in shares of NVIDIA in the 2nd quarter worth approximately $27,000. Christopher J. Hasenberg Inc bought a new position in NVIDIA during the 3rd quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in NVIDIA during the second quarter valued at $31,000. Finally, FPC Investment Advisory Inc. boosted its holdings in NVIDIA by 900.0% in the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock worth $34,000 after acquiring an additional 261 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $128.91 on Thursday. The firm’s fifty day moving average is $139.72 and its two-hundred day moving average is $127.08. 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 $3.16 trillion, a P/E ratio of 50.73, a P/E/G ratio of 2.43 and a beta of 1.63. 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 announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS 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 analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s revenue was up 93.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.38 earnings per share. As a group, analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA declared that its board has approved a share repurchase plan 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 reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.57%.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 165,100 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the transaction, the director now owns 8,420,117 shares in the company, valued at $1,021,107,588.59. The trade was a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This trade represents a 3.37 % 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 $209,985,077 in the last three months. Insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NVDA shares. JPMorgan Chase & Co. lifted their price target on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a report on Thursday, November 21st. William Blair initiated coverage on shares of NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Wedbush boosted their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Barclays lifted their target price on NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

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.