Moran Wealth Management LLC Has $31.21 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Moran Wealth Management LLC cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 257,017 shares of the computer hardware maker’s stock after selling 8,089 shares during the quarter. NVIDIA makes up 1.0% of Moran Wealth Management LLC’s portfolio, making the stock its 17th largest position. Moran Wealth Management LLC’s holdings in NVIDIA were worth $31,212,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of NVDA. Quest Partners LLC acquired a new stake in NVIDIA in the 2nd quarter valued at about $27,000. Christopher J. Hasenberg Inc bought a new position in NVIDIA in the 3rd quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in NVIDIA during the second quarter worth approximately $31,000. West Financial Advisors LLC bought a new stake in shares of NVIDIA during the third quarter worth approximately $36,000. Finally, DHJJ Financial Advisors Ltd. boosted its stake in NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 140 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the sale, the chief financial officer now owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,226,886 shares of company stock valued at $161,499,400. 4.23% of the stock is owned by corporate insiders.

NVIDIA Trading Up 3.4 %

Shares of NVIDIA stock opened at $149.43 on Tuesday. The stock has a market capitalization of $3.66 trillion, a PE ratio of 58.81, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a 52 week low of $49.48 and a 52 week high of $152.89. The stock has a 50 day moving average price of $139.75 and a two-hundred day moving average price of $128.28. 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 (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter last year, the firm posted $0.38 EPS. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. As a group, equities analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were issued a $0.01 dividend. The ex-dividend date of this dividend was 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 is presently 1.57%.

Analyst Ratings Changes

NVDA has been the subject of a number of recent research reports. William Blair started coverage on shares of NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Susquehanna boosted their target price on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Morgan Stanley lifted their target price on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Truist Financial increased their price target on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Melius Research boosted their price target on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. 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 stock. Based on data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus target price 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.