Keyes Stange & Wooten Wealth Management LLC Reduces Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Keyes Stange & Wooten Wealth Management LLC reduced its holdings in NVIDIA Co. (NASDAQ:NVDA) by 25.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,306 shares of the computer hardware maker’s stock after selling 1,155 shares during the period. Keyes Stange & Wooten Wealth Management LLC’s holdings in NVIDIA were worth $402,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. University of Texas Texas AM Investment Management Co. boosted its stake in shares of NVIDIA by 897.5% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after purchasing an additional 107,169 shares during the period. Truepoint Inc. boosted its stake in shares of NVIDIA by 914.1% during the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after purchasing an additional 11,709 shares during the period. Westwood Holdings Group Inc. boosted its stake in shares of NVIDIA by 683.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after purchasing an additional 208,362 shares during the period. Blue Square Asset Management LLC boosted its stake in shares of NVIDIA by 26.7% during the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after purchasing an additional 10,136 shares during the period. Finally, Narwhal Capital Management lifted its holdings in NVIDIA by 5.1% during the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock valued at $66,267,000 after buying an additional 26,373 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Down 0.0 %

NVDA stock opened at $140.11 on Thursday. The firm’s fifty day simple moving average is $139.74 and its 200-day simple moving average is $128.46. The company has a market capitalization of $3.43 trillion, a P/E ratio of 55.14, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 12 month low of $51.69 and a 12 month high of $153.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the prior year, the firm earned $0.38 EPS. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. As a group, equities research analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NVDA shares. Truist Financial lifted their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Raymond James lifted their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. boosted their price target on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Morgan Stanley boosted their price target 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, Loop Capital restated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a report on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $164.63.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now directly owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock worth $146,506,958 in the last three months. Company insiders own 4.23% of the company’s stock.

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.