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

Simplicity Wealth LLC lessened its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 70.1% in the third quarter, Holdings Channel.com reports. The fund owned 203,504 shares of the computer hardware maker’s stock after selling 476,194 shares during the quarter. NVIDIA comprises about 2.3% of Simplicity Wealth LLC’s holdings, making the stock its 6th biggest position. Simplicity Wealth LLC’s holdings in NVIDIA were worth $24,714,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of NVDA. China Universal Asset Management Co. Ltd. lifted its position in shares of NVIDIA by 52.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after acquiring an additional 13,135 shares during the last quarter. Blackhawk Capital Partners LLC. lifted its position in shares of NVIDIA by 155.0% during the 1st quarter. Blackhawk Capital Partners LLC. now owns 1,780 shares of the computer hardware maker’s stock valued at $1,608,000 after acquiring an additional 1,082 shares during the last quarter. Resonant Capital Advisors LLC lifted its position in shares of NVIDIA by 43.1% during the 1st quarter. Resonant Capital Advisors LLC now owns 5,850 shares of the computer hardware maker’s stock valued at $5,286,000 after acquiring an additional 1,761 shares during the last quarter. Smith Shellnut Wilson LLC ADV lifted its position in shares of NVIDIA by 5.3% during the 1st quarter. Smith Shellnut Wilson LLC ADV now owns 1,198 shares of the computer hardware maker’s stock valued at $1,082,000 after acquiring an additional 60 shares during the last quarter. Finally, 5th Street Advisors LLC acquired a new stake in shares of NVIDIA during the 1st quarter valued at $233,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NVDA. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $100.00 target price on shares of NVIDIA in a report on Monday, August 5th. Craig Hallum lifted their price objective on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Wells Fargo & Company lifted their price objective on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. William Blair started coverage on NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Finally, Melius Research lifted their price objective on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $147.48.

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the sale, the chief executive officer now owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Down 1.4 %

Shares of NVDA opened at $146.27 on Thursday. The company has a market capitalization of $3.59 trillion, a P/E ratio of 68.61, a PEG ratio of 1.56 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA Co. has a one year low of $45.01 and a one year high of $149.77. The business’s 50 day simple moving average is $128.59 and its 200-day simple moving average is $119.33.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the prior year, the business earned $0.25 EPS. The business’s revenue for the quarter was up 122.4% compared to the same quarter last year. As a group, sell-side analysts predict that NVIDIA Co. will post 2.66 EPS 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 issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is 1.88%.

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

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.