Acorn Financial Advisory Services Inc. ADV Cuts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Acorn Financial Advisory Services Inc. ADV decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 29,953 shares of the computer hardware maker’s stock after selling 2,158 shares during the period. NVIDIA accounts for about 0.6% of Acorn Financial Advisory Services Inc. ADV’s holdings, making the stock its 20th biggest holding. Acorn Financial Advisory Services Inc. ADV’s holdings in NVIDIA were worth $3,638,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Hoertkorn Richard Charles increased its stake in NVIDIA by 2.0% during the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after acquiring an additional 70 shares during the last quarter. Smart Portfolios LLC grew its holdings in shares of NVIDIA by 2.7% during the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after purchasing an additional 75 shares during the period. Total Wealth Planning LLC increased its position in shares of NVIDIA by 3.6% during the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after purchasing an additional 78 shares during the last quarter. Boyd Watterson Asset Management LLC OH raised its holdings in NVIDIA by 0.3% in the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock valued at $3,653,000 after buying an additional 80 shares during the period. Finally, Pavion Blue Capital LLC lifted its position in NVIDIA by 0.4% in the third quarter. Pavion Blue Capital LLC now owns 21,650 shares of the computer hardware maker’s stock valued at $2,629,000 after buying an additional 80 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other NVIDIA news, 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 transaction of $9,027,118.00. Following the sale, the chief financial officer now owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 40,000 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the completion of the sale, the director now owns 8,380,117 shares in the company, valued at $1,014,077,958.17. This represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,391,886 shares of company stock valued at $181,666,050 in the last quarter. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of research analyst reports. Westpark Capital boosted their price target on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Sanford C. Bernstein upped their price target on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. The Goldman Sachs Group boosted their price objective on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 21st. TD Cowen raised their target price on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Wells Fargo & Company boosted their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $140.22 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 market cap of $3.43 trillion, a PE ratio of 55.18, a P/E/G ratio of 2.43 and a beta of 1.63. The stock has a fifty day moving average price of $139.66 and a 200 day moving average price of $127.49. NVIDIA Co. has a 1-year low of $47.32 and a 1-year high of $152.89.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating 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%. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 EPS. Sell-side analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA declared that its board has approved a stock buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

NVIDIA Dividend Announcement

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

NVIDIA Company 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.