NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Wagner Wealth Management LLC

Wagner Wealth Management LLC trimmed its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 31.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,368 shares of the computer hardware maker’s stock after selling 3,364 shares during the period. Wagner Wealth Management LLC’s holdings in NVIDIA were worth $895,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NVDA. Sunflower Bank N.A. lifted its stake in NVIDIA by 6.2% in the 3rd quarter. Sunflower Bank N.A. now owns 18,820 shares of the computer hardware maker’s stock valued at $2,286,000 after buying an additional 1,097 shares in the last quarter. Stonekeep Investments LLC raised its holdings in shares of NVIDIA by 1.1% during the third quarter. Stonekeep Investments LLC now owns 19,494 shares of the computer hardware maker’s stock valued at $2,367,000 after acquiring an additional 213 shares during the last quarter. Sound Income Strategies LLC lifted its position in shares of NVIDIA by 7.4% in the third quarter. Sound Income Strategies LLC now owns 40,188 shares of the computer hardware maker’s stock valued at $4,880,000 after acquiring an additional 2,783 shares in the last quarter. CVA Family Office LLC boosted its stake in shares of NVIDIA by 2.2% in the third quarter. CVA Family Office LLC now owns 53,986 shares of the computer hardware maker’s stock worth $6,556,000 after acquiring an additional 1,160 shares during the last quarter. Finally, JBR Co Financial Management Inc increased its position in shares of NVIDIA by 1.6% during the third quarter. JBR Co Financial Management Inc now owns 197,534 shares of the computer hardware maker’s stock worth $23,988,000 after purchasing an additional 3,180 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the topic of several recent research reports. UBS Group lifted their target price on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 price target on shares of NVIDIA in a research report on Monday, August 5th. Robert W. Baird increased their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. HSBC boosted their target price on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Mizuho increased their price target on NVIDIA from $140.00 to $165.00 and gave the company an “outperform” rating in a report on Tuesday. Five research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $152.40.

NVIDIA Stock Down 3.3 %

NVIDIA stock opened at $141.98 on Friday. The firm has a market capitalization of $3.48 trillion, a P/E ratio of 66.66, a P/E/G ratio of 1.54 and a beta of 1.66. The stock’s fifty day simple moving average is $130.18 and its 200-day simple moving average is $119.70. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $149.77. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter last year, the company earned $0.25 EPS. NVIDIA’s revenue for the quarter was up 122.4% compared to the same quarter last year. As a group, equities analysts expect that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 1.88%.

NVIDIA announced that its board has authorized a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by corporate insiders.

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.