Evernest Financial Advisors LLC Has $4.53 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Evernest Financial Advisors LLC cut its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 36.7% during the third quarter, HoldingsChannel.com reports. The firm owned 37,262 shares of the computer hardware maker’s stock after selling 21,578 shares during the period. NVIDIA accounts for about 1.2% of Evernest Financial Advisors LLC’s investment portfolio, making the stock its 18th largest holding. Evernest Financial Advisors LLC’s holdings in NVIDIA were worth $4,525,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA in the 2nd quarter worth about $25,000. DHJJ Financial Advisors Ltd. boosted its position in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares in the last quarter. CGC Financial Services LLC bought a new stake in NVIDIA during the second quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA during the first quarter worth approximately $27,000. Finally, Quest Partners LLC bought a new position in shares of NVIDIA in the second quarter valued at approximately $27,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $107.44, for a total transaction of $12,892,800.00. Following the transaction, the chief executive officer now owns 76,135,836 shares of the company’s stock, valued at approximately $8,180,034,219.84. This represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares in the company, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,036,986 shares of company stock valued at $240,602,399 over the last ninety days. 4.23% of the stock is owned by insiders.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $135.34 on Friday. The stock has a 50-day moving average price of $135.61 and a 200 day moving average price of $123.34. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $152.89. The stock has a market capitalization of $3.31 trillion, a P/E ratio of 53.28, a P/E/G ratio of 2.46 and a beta of 1.66.

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 during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The business’s revenue was up 93.6% on a year-over-year basis. Equities research analysts forecast that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA announced that its board has authorized a stock repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Announces Dividend

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

Analyst Ratings Changes

Several brokerages have recently commented on NVDA. Citigroup increased their target price on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Craig Hallum increased their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. William Blair started coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Finally, Barclays raised their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

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.