Financial Insights Inc. Reduces Position in NVIDIA Co. (NASDAQ:NVDA)

Financial Insights Inc. trimmed its stake in NVIDIA Co. (NASDAQ:NVDA) by 44.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 44,501 shares of the computer hardware maker’s stock after selling 35,660 shares during the period. NVIDIA makes up about 1.8% of Financial Insights Inc.’s investment portfolio, making the stock its 14th biggest position. Financial Insights Inc.’s holdings in NVIDIA were worth $5,404,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NVDA. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA in the 2nd quarter valued at about $25,000. DHJJ Financial Advisors Ltd. raised its holdings in shares of NVIDIA by 1,900.0% in 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. CGC Financial Services LLC bought a new position in shares of NVIDIA during the 2nd quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA during the 1st quarter worth approximately $27,000. Finally, Quest Partners LLC bought a new position in shares of NVIDIA during the 2nd quarter worth approximately $27,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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.

NVIDIA Stock Up 2.2 %

Shares of NVIDIA stock opened at $138.25 on Friday. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $152.89. The company has a 50 day moving average of $136.05 and a 200 day moving average of $123.90. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.39 trillion, a P/E ratio of 54.41, a P/E/G ratio of 2.45 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter last year, the company earned $0.38 earnings per share. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. As a group, research analysts forecast that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA declared that its board has authorized a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Mizuho boosted their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Stifel Nicolaus upped their price target on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. DA Davidson upped their price target on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Morgan Stanley upped their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Finally, Piper Sandler upped their price objective 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 equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has an average 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.