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

TriaGen Wealth Management LLC decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 31.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 65,018 shares of the computer hardware maker’s stock after selling 30,345 shares during the quarter. NVIDIA makes up approximately 2.6% of TriaGen Wealth Management LLC’s investment portfolio, making the stock its 8th largest position. TriaGen Wealth Management LLC’s holdings in NVIDIA were worth $7,896,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Cahaba Wealth Management Inc. raised its holdings in NVIDIA by 1.2% during the third quarter. Cahaba Wealth Management Inc. now owns 27,439 shares of the computer hardware maker’s stock worth $3,332,000 after purchasing an additional 326 shares in the last quarter. Sander Capital Advisors Inc. raised its holdings in NVIDIA by 36.3% during the third quarter. Sander Capital Advisors Inc. now owns 42,088 shares of the computer hardware maker’s stock worth $5,111,000 after purchasing an additional 11,218 shares in the last quarter. Kraft Asset Management LLC raised its holdings in NVIDIA by 21.3% during the third quarter. Kraft Asset Management LLC now owns 3,969 shares of the computer hardware maker’s stock worth $482,000 after purchasing an additional 696 shares in the last quarter. Clarity Wealth Advisors LLC raised its holdings in NVIDIA by 1.5% during the third quarter. Clarity Wealth Advisors LLC now owns 57,145 shares of the computer hardware maker’s stock worth $6,940,000 after purchasing an additional 841 shares in the last quarter. Finally, Gries Financial LLC raised its holdings in NVIDIA by 63.9% during the third quarter. Gries Financial LLC now owns 52,197 shares of the computer hardware maker’s stock worth $6,339,000 after purchasing an additional 20,350 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $105.33, for a total value of $12,639,600.00. Following the transaction, the chief executive officer now owns 75,895,836 shares of the company’s stock, valued at approximately $7,994,108,405.88. This trade represents a 0.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 3.2 %

Shares of NVDA opened at $141.95 on Monday. The firm has a market cap of $3.48 trillion, a PE ratio of 55.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.66. The company’s fifty day moving average is $134.01 and its two-hundred day moving average is $122.51. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $152.89. The company has a quick ratio of 3.79, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results 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 net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter last year, the business earned $0.38 EPS. Analysts forecast that NVIDIA Co. will post 2.68 earnings per share for the current year.

NVIDIA declared that its Board of Directors has approved a share buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

NVIDIA Dividend Announcement

The firm 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 $0.01 dividend. 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 presently 1.57%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NVDA. Oppenheimer reissued an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a report on Thursday. Wells Fargo & Company increased their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday. Loop Capital reissued a “buy” rating and set a $175.00 price target on shares of NVIDIA in a report on Wednesday, November 20th. HSBC increased their target price on shares of NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a report on Tuesday, August 6th. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

About NVIDIA

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.