NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 26.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 45,289 shares of the computer hardware maker’s stock after selling 16,404 shares during the period. Cabot Wealth Management Inc.’s holdings in NVIDIA were worth $5,500,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA in the second quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares in the last quarter. FPC Investment Advisory Inc. acquired a new stake in NVIDIA during the 1st quarter worth $26,000. CGC Financial Services LLC purchased a new stake in shares of NVIDIA during the second quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA in the first quarter valued at about $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity

In related news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 1.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $105.33, for a total value of $12,639,600.00. Following the sale, the chief executive officer now directly owns 75,895,836 shares of the company’s stock, valued at $7,994,108,405.88. The trade was a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock valued at $254,784,327 in the last ninety days. 4.23% of the stock is currently owned by company insiders.

NVIDIA Price Performance

NVDA stock opened at $140.15 on Tuesday. The business has a 50 day moving average price of $131.64 and a 200 day moving average price of $120.96. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $149.77. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.44 trillion, a price-to-earnings ratio of 65.74, a PEG ratio of 1.49 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 EPS. Equities research analysts anticipate that NVIDIA Co. will post 2.67 earnings per share for the current fiscal year.

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

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

Analysts Set New Price Targets

NVDA has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a research note on Monday, August 5th. Piper Sandler increased their price target on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Mizuho boosted their price objective on NVIDIA from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. TD Cowen upgraded NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Finally, New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $152.40.

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.