Fernwood Investment Management LLC Has $9.39 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Fernwood Investment Management LLC lessened its holdings in NVIDIA Co. (NASDAQ:NVDA) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 77,297 shares of the computer hardware maker’s stock after selling 323 shares during the period. NVIDIA comprises approximately 3.1% of Fernwood Investment Management LLC’s holdings, making the stock its 5th biggest position. Fernwood Investment Management LLC’s holdings in NVIDIA were worth $9,387,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Foundation Wealth Management LLC purchased a new position in NVIDIA during the third quarter valued at $335,000. TrueWealth Advisors LLC raised its stake in shares of NVIDIA by 19.1% in the third quarter. TrueWealth Advisors LLC now owns 8,521 shares of the computer hardware maker’s stock worth $1,035,000 after buying an additional 1,369 shares during the period. BSW Wealth Partners lifted its position in shares of NVIDIA by 6.0% during the 3rd quarter. BSW Wealth Partners now owns 70,042 shares of the computer hardware maker’s stock valued at $8,506,000 after buying an additional 3,938 shares in the last quarter. Nvwm LLC grew its stake in shares of NVIDIA by 34.0% during the 3rd quarter. Nvwm LLC now owns 88,433 shares of the computer hardware maker’s stock valued at $10,739,000 after acquiring an additional 22,419 shares during the period. Finally, Angeles Wealth Management LLC increased its holdings in NVIDIA by 3.2% in the 3rd quarter. Angeles Wealth Management LLC now owns 87,992 shares of the computer hardware maker’s stock worth $10,686,000 after acquiring an additional 2,695 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $132.00 on Tuesday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.23 trillion, a price-to-earnings ratio of 51.95, a PEG ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 12 month low of $47.32 and a 12 month high of $152.89. The firm’s 50-day moving average is $139.84 and its 200 day moving average is $126.92.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the prior year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. Research analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA announced that its Board of Directors has authorized a stock repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

NVIDIA Announces Dividend

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

Insider Transactions at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the sale, the insider now directly owns 480,899 shares of the company’s stock, valued at $65,056,016.72. The trade was a 0.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the transaction, the chief financial officer now directly owns 3,351,572 shares in the company, valued at $453,802,848.80. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,628,156 shares of company stock worth $197,995,077. Insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. Sanford C. Bernstein upped their target price on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Wedbush increased their price target on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Raymond James upped their price objective on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 14th. Finally, Benchmark lifted their target price on NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

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.