Segment Wealth Management LLC Sells 26,724 Shares of NVIDIA Co. (NASDAQ:NVDA)

Segment Wealth Management LLC decreased its stake in NVIDIA Co. (NASDAQ:NVDA) by 16.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 140,383 shares of the computer hardware maker’s stock after selling 26,724 shares during the period. NVIDIA comprises approximately 1.2% of Segment Wealth Management LLC’s portfolio, making the stock its 26th biggest holding. Segment Wealth Management LLC’s holdings in NVIDIA were worth $17,048,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA during the first quarter worth approximately $27,000. Lowe Wealth Advisors LLC bought a new stake in NVIDIA during the 2nd quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. increased its holdings in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares in the last quarter. Christopher J. Hasenberg Inc acquired a new stake in NVIDIA during the 3rd quarter valued at $27,000. Finally, CGC Financial Services LLC bought a new position in NVIDIA in the 2nd quarter valued at $26,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Up 2.2 %

NVDA opened at $138.25 on Friday. The company has a fifty day moving average price of $136.05 and a two-hundred day moving average price of $123.90. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $152.89. The company has a market cap of $3.39 trillion, a P/E ratio of 54.41, a price-to-earnings-growth ratio of 2.45 and a beta of 1.66. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for 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%. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 earnings per share. Analysts predict that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has approved a share buyback program 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 repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

NVIDIA Dividend Announcement

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

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the 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 completion of 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. This represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This trade represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,036,986 shares of company stock valued at $240,602,399. 4.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NVDA has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price target on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Morgan Stanley raised their price target on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Benchmark lifted their price objective on NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Cantor Fitzgerald restated an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Raymond James raised their price target on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

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.