Fortress Wealth Management Inc. Trims Position in NVIDIA Co. (NASDAQ:NVDA)

Fortress Wealth Management Inc. decreased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 32.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,009 shares of the computer hardware maker’s stock after selling 977 shares during the quarter. Fortress Wealth Management Inc.’s holdings in NVIDIA were worth $244,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NVDA. China Universal Asset Management Co. Ltd. raised its position in shares of NVIDIA by 52.2% during the first 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 buying an additional 13,135 shares during the last quarter. Berkshire Money Management Inc. purchased a new stake in NVIDIA in the 1st quarter worth $866,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of NVIDIA by 12.3% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,500,599 shares of the computer hardware maker’s stock valued at $1,355,881,000 after purchasing an additional 164,798 shares during the last quarter. Koshinski Asset Management Inc. grew its position in shares of NVIDIA by 42.0% during the first quarter. Koshinski Asset Management Inc. now owns 13,754 shares of the computer hardware maker’s stock valued at $12,428,000 after purchasing an additional 4,069 shares in the last quarter. Finally, New Insight Wealth Advisors increased its holdings in shares of NVIDIA by 2.4% in the first quarter. New Insight Wealth Advisors now owns 1,319 shares of the computer hardware maker’s stock worth $1,192,000 after purchasing an additional 31 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NVDA shares. Piper Sandler raised their price target on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Benchmark boosted their price target on shares of NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Barclays increased their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Morgan Stanley boosted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Finally, Redburn Atlantic started coverage on shares of NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price target for the company. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.15.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 14.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock valued at $254,784,327 over the last 90 days. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 4.2 %

Shares of NASDAQ NVDA opened at $136.02 on Tuesday. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $152.89. The stock’s fifty day simple moving average is $134.39 and its two-hundred day simple moving average is $122.84. The stock has a market capitalization of $3.33 trillion, a PE ratio of 53.53, a price-to-earnings-growth ratio of 2.60 and a beta of 1.66. 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 (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.38 earnings per share. As a group, analysts expect that NVIDIA Co. will post 2.73 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

NVIDIA announced that its board has approved a share repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.