Wealth Alliance Advisory Group LLC Decreases Stake in NVIDIA Co. (NASDAQ:NVDA)

Wealth Alliance Advisory Group LLC cut its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 75,094 shares of the computer hardware maker’s stock after selling 575 shares during the quarter. NVIDIA comprises about 1.9% of Wealth Alliance Advisory Group LLC’s investment portfolio, making the stock its 14th largest position. Wealth Alliance Advisory Group LLC’s holdings in NVIDIA were worth $9,119,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Lowe Wealth Advisors LLC purchased a new position in NVIDIA during the 2nd quarter valued at about $25,000. DHJJ Financial Advisors Ltd. grew its position in shares of 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 purchasing an additional 190 shares during the last quarter. CGC Financial Services LLC purchased a new position in shares of NVIDIA during the 2nd quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA during the 1st quarter worth approximately $27,000. Finally, Quest Partners LLC purchased a new stake in NVIDIA in the 2nd quarter valued at approximately $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NVDA shares. DA Davidson boosted their price target on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday. HSBC upped 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. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Tuesday, August 6th. Wells Fargo & Company raised their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Susquehanna boosted their price target on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Activity

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is owned by company insiders.

NVIDIA Trading Down 4.2 %

Shares of NASDAQ:NVDA opened at $136.02 on Tuesday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.33 trillion, a PE ratio of 53.53, a P/E/G ratio of 2.60 and a beta of 1.66. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $152.89. The firm has a fifty day moving average price of $134.39 and a 200 day moving average price of $122.84.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. Analysts expect that NVIDIA Co. will post 2.73 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. 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 1.57%.

NVIDIA declared that its Board of Directors has approved a share 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 purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management 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.