1776 Wealth LLC Decreases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

1776 Wealth LLC lowered its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.4% in the 3rd quarter, Holdings Channel reports. The firm owned 47,891 shares of the computer hardware maker’s stock after selling 689 shares during the quarter. NVIDIA accounts for approximately 2.6% of 1776 Wealth LLC’s portfolio, making the stock its 8th largest position. 1776 Wealth LLC’s holdings in NVIDIA were worth $5,816,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in NVDA. Lantz Financial LLC boosted its stake in NVIDIA by 833.1% during the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock valued at $5,088,000 after buying an additional 36,774 shares during the period. ERn Financial LLC raised its holdings in shares of NVIDIA by 917.2% in the 2nd quarter. ERn Financial LLC now owns 45,589 shares of the computer hardware maker’s stock valued at $5,632,000 after acquiring an additional 41,107 shares in the last quarter. Peddock Capital Advisors LLC boosted its position in shares of NVIDIA by 814.3% during the 2nd quarter. Peddock Capital Advisors LLC now owns 439,046 shares of the computer hardware maker’s stock valued at $54,240,000 after acquiring an additional 391,026 shares during the last quarter. Petra Financial Advisors Inc. grew its holdings in shares of NVIDIA by 866.3% during the second quarter. Petra Financial Advisors Inc. now owns 42,508 shares of the computer hardware maker’s stock worth $5,251,000 after purchasing an additional 38,109 shares in the last quarter. Finally, Eagle Wealth Strategies LLC increased its position in shares of NVIDIA by 1,621.2% in the second quarter. Eagle Wealth Strategies LLC now owns 8,451 shares of the computer hardware maker’s stock worth $1,044,000 after purchasing an additional 7,960 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the sale, the insider now owns 480,899 shares in the company, valued at approximately $65,056,016.72. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,226,886 shares of company stock worth $161,499,400. 4.23% of the stock is owned by corporate insiders.

NVIDIA Trading Down 2.3 %

NASDAQ:NVDA opened at $134.29 on Thursday. NVIDIA Co. has a one year low of $47.32 and a one year high of $152.89. The company’s 50-day simple moving average is $139.55 and its 200 day simple moving average is $128.09. The firm has a market capitalization of $3.29 trillion, a P/E ratio of 52.85, a PEG ratio of 2.43 and a beta of 1.63. 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 (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the business earned $0.38 earnings per share. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. As a group, analysts forecast that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Citigroup lifted their target price 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. The Goldman Sachs Group upped their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Piper Sandler raised their price target on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Stifel Nicolaus upped their price objective on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Raymond James raised their price objective on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a report on Thursday, November 14th. Four research 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.