Abich Financial Wealth Management LLC Has $49,000 Position in NVIDIA Co. (NASDAQ:NVDA)

Abich Financial Wealth Management LLC cut its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 82.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 406 shares of the computer hardware maker’s stock after selling 1,941 shares during the period. Abich Financial Wealth Management LLC’s holdings in NVIDIA were worth $49,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NVDA. Lowe Wealth Advisors LLC bought a new position in shares of NVIDIA in the second quarter valued at about $25,000. DHJJ Financial Advisors Ltd. boosted its holdings in shares of NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the period. Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA in the third quarter valued at approximately $27,000. CGC Financial Services LLC bought a new position in shares of NVIDIA during the second quarter worth approximately $26,000. Finally, Quest Partners LLC acquired a new stake in NVIDIA during the 2nd quarter worth approximately $27,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Susquehanna upped their price target on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Bank of America reaffirmed a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. William Blair began coverage on NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Monday, November 18th. 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Performance

NASDAQ NVDA opened at $135.07 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a fifty day moving average price of $138.51 and a 200-day moving average price of $126.04. NVIDIA Co. has a 1 year low of $45.83 and a 1 year high of $152.89. The firm has a market cap of $3.31 trillion, a price-to-earnings ratio of 53.18, a PEG ratio of 2.58 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) 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 business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the prior year, the firm posted $0.38 EPS. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. As a group, equities research analysts predict that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

NVIDIA announced that its board has initiated a stock repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This represents a 1.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,556,986 shares of company stock valued at $188,359,199. Insiders own 4.23% of the company’s stock.

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.