NVIDIA Co. (NASDAQ:NVDA) Stake Lifted by Abacus Wealth Partners LLC

Abacus Wealth Partners LLC increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 6.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,663 shares of the computer hardware maker’s stock after purchasing an additional 2,928 shares during the quarter. NVIDIA comprises about 0.9% of Abacus Wealth Partners LLC’s portfolio, making the stock its 14th biggest holding. Abacus Wealth Partners LLC’s holdings in NVIDIA were worth $5,788,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. FPC Investment Advisory Inc. purchased a new stake in NVIDIA in the 1st quarter worth 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 in the 1st quarter worth approximately $30,000. TCTC Holdings LLC acquired a new stake in NVIDIA during the first quarter valued at approximately $82,000. Finally, Slocum Gordon & Co LLP bought a new stake in NVIDIA during the first quarter worth about $98,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $103.85, for a total transaction of $12,462,000.00. Following the sale, the chief executive officer now owns 76,854,995 shares in the company, valued at approximately $7,981,391,230.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $103.85, for a total value of $12,462,000.00. Following the transaction, the chief executive officer now owns 76,854,995 shares in the company, valued at $7,981,391,230.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,396,270 shares of company stock worth $279,825,927 in the last 90 days. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 0.5 %

Shares of NASDAQ NVDA opened at $136.05 on Tuesday. The business’s fifty day moving average price is $125.45 and its 200-day moving average price is $116.60. NVIDIA Co. has a one year low of $44.90 and a one year high of $144.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The stock has a market capitalization of $3.34 trillion, a PE ratio of 63.87, a P/E/G ratio of 1.40 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 earnings per share. On average, equities research analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current year.

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

NVIDIA Cuts Dividend

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

Analyst Upgrades and Downgrades

NVDA has been the topic of several recent research reports. Piper Sandler restated an “overweight” rating and issued a $140.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Mizuho increased their price target on shares of NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. upped their price objective on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Westpark Capital increased their price target on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Wedbush reiterated an “outperform” rating and issued a $138.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

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.