HTG Investment Advisors Inc. Sells 269 Shares of NVIDIA Co. (NASDAQ:NVDA)

HTG Investment Advisors Inc. cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 6.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,235 shares of the computer hardware maker’s stock after selling 269 shares during the quarter. HTG Investment Advisors Inc.’s holdings in NVIDIA were worth $514,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Axxcess Wealth Management LLC raised its holdings in shares of NVIDIA by 14.6% during the third quarter. Axxcess Wealth Management LLC now owns 493,098 shares of the computer hardware maker’s stock valued at $59,882,000 after purchasing an additional 62,633 shares during the last quarter. Alan B Lancz & Associates Inc. increased its stake in shares of NVIDIA by 14.0% in the third quarter. Alan B Lancz & Associates Inc. now owns 16,251 shares of the computer hardware maker’s stock worth $1,974,000 after purchasing an additional 2,001 shares in the last quarter. Eagle Bluffs Wealth Management LLC raised its holdings in NVIDIA by 1.5% during the third quarter. Eagle Bluffs Wealth Management LLC now owns 71,922 shares of the computer hardware maker’s stock valued at $8,735,000 after acquiring an additional 1,047 shares during the period. FMB Wealth Management grew its position in shares of NVIDIA by 34.2% during the third quarter. FMB Wealth Management now owns 22,175 shares of the computer hardware maker’s stock worth $2,693,000 after purchasing an additional 5,645 shares in the last quarter. Finally, Arrow Financial Corp raised its position in shares of NVIDIA by 0.8% during the third quarter. Arrow Financial Corp now owns 184,943 shares of the computer hardware maker’s stock valued at $22,459,000 after buying an additional 1,525 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Trading Up 0.4 %

Shares of NVIDIA stock opened at $140.22 on Thursday. NVIDIA Co. has a twelve month low of $47.32 and a twelve month high of $152.89. The firm’s 50-day moving average price is $139.84 and its 200 day moving average price is $127.62. 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 firm has a market capitalization of $3.43 trillion, a PE ratio of 55.18, a P/E/G ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter last year, the business posted $0.38 earnings per share. The business’s quarterly revenue was up 93.6% compared to the same quarter last year. On average, sell-side analysts predict that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA announced that its board has initiated a stock buyback 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 purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

NVIDIA Dividend Announcement

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

Insider Activity

In related news, Director Mark A. Stevens sold 40,000 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $121.01, for a total value of $4,840,400.00. Following the completion of the sale, the director now owns 8,380,117 shares of the company’s stock, valued at approximately $1,014,077,958.17. This trade represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares in the company, 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 sold 1,391,886 shares of company stock worth $181,666,050 over the last three months. Insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Westpark Capital raised their price target on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. HSBC raised their price objective on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Mizuho upped their target price on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Piper Sandler raised their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Four 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

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.