NVIDIA Co. (NASDAQ:NVDA) Stake Reduced by Atwood & Palmer Inc.

Atwood & Palmer Inc. cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,807 shares of the computer hardware maker’s stock after selling 210 shares during the period. Atwood & Palmer Inc.’s holdings in NVIDIA were worth $1,434,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Privium Fund Management UK Ltd bought a new position in NVIDIA in the 1st quarter worth approximately $2,635,000. Lifestyle Asset Management Inc. boosted its position in NVIDIA by 246.9% during the 1st quarter. Lifestyle Asset Management Inc. now owns 2,005 shares of the computer hardware maker’s stock worth $1,812,000 after acquiring an additional 1,427 shares during the period. OMNI 360 Wealth Inc. increased its holdings in shares of NVIDIA by 6.0% during the first quarter. OMNI 360 Wealth Inc. now owns 513 shares of the computer hardware maker’s stock valued at $464,000 after purchasing an additional 29 shares during the period. JTC Employer Solutions Trustee Ltd raised its stake in shares of NVIDIA by 1.0% during the first quarter. JTC Employer Solutions Trustee Ltd now owns 14,897 shares of the computer hardware maker’s stock valued at $13,453,000 after purchasing an additional 150 shares in the last quarter. Finally, Trust Co. of Oklahoma lifted its holdings in NVIDIA by 2.7% in the first quarter. Trust Co. of Oklahoma now owns 1,105 shares of the computer hardware maker’s stock worth $998,000 after purchasing an additional 29 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on NVDA. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Tuesday, August 6th. Rosenblatt Securities reissued a “buy” rating and set a $200.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Loop Capital reaffirmed a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research note on Monday, August 26th. UBS Group reiterated a “buy” rating and issued a $150.00 target price on shares of NVIDIA in a report on Tuesday, October 8th. Finally, Piper Sandler restated an “overweight” rating and issued a $140.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $143.07.

NVIDIA Stock Up 2.2 %

Shares of NVIDIA stock opened at $148.88 on Friday. The stock has a 50-day simple moving average of $126.08 and a 200-day simple moving average of $117.25. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $148.93. The firm has a market cap of $3.65 trillion, a price-to-earnings ratio of 69.90, a P/E/G ratio of 1.43 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the previous year, the company earned $0.25 earnings per share. The company’s revenue was up 122.4% compared to the same quarter last year. On average, equities research analysts expect that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th 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, September 12th. NVIDIA’s payout ratio is 1.88%.

NVIDIA declared that its board has authorized a share 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 buy up to 1.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total value of $13,291,200.00. Following the sale, the chief executive officer now directly owns 76,375,705 shares of the company’s stock, valued at $8,459,373,085.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock worth $254,784,327 over the last three months. Corporate insiders own 4.23% of the company’s stock.

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.