MN Wealth Advisors LLC Sells 502 Shares of NVIDIA Co. (NASDAQ:NVDA)

MN Wealth Advisors LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,543 shares of the computer hardware maker’s stock after selling 502 shares during the quarter. NVIDIA accounts for approximately 1.1% of MN Wealth Advisors LLC’s holdings, making the stock its 21st biggest holding. MN Wealth Advisors LLC’s holdings in NVIDIA were worth $1,888,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. FPC Investment Advisory Inc. bought a new position in shares of NVIDIA in the first quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA during the first quarter worth approximately $27,000. HBC Financial Services PLLC bought a new stake in shares of NVIDIA during the first quarter valued at approximately $30,000. TCTC Holdings LLC acquired a new stake in shares of NVIDIA in the first quarter valued at approximately $82,000. Finally, Delos Wealth Advisors LLC raised its position in NVIDIA by 600.0% in the 1st quarter. Delos Wealth Advisors LLC now owns 112 shares of the computer hardware maker’s stock worth $101,000 after purchasing an additional 96 shares during 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 business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 76,494,995 shares in the company, valued at $9,105,199,254.85. The trade was a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NVDA. Morgan Stanley increased their price objective on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Needham & Company LLC raised their price target on NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Citigroup boosted their price objective on NVIDIA from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. The Goldman Sachs Group raised their target price on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Finally, Benchmark reissued a “buy” rating and set a $170.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $154.63.

NVIDIA Stock Up 4.9 %

Shares of NVDA stock opened at $147.01 on Wednesday. The firm’s fifty day moving average price is $132.42 and its two-hundred day moving average price is $121.37. 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 Co. has a 1 year low of $45.01 and a 1 year high of $149.77. The firm has a market capitalization of $3.61 trillion, a P/E ratio of 69.02, a PEG ratio of 1.49 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its 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 business had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the previous year, the business earned $0.25 earnings per share. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. On average, equities analysts predict that NVIDIA Co. will post 2.67 EPS for the current fiscal year.

NVIDIA announced that its board has initiated a share buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

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

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.