Del Sette Capital Management LLC Sells 2,770 Shares of NVIDIA Co. (NASDAQ:NVDA)

Del Sette Capital Management LLC lowered its stake in NVIDIA Co. (NASDAQ:NVDA) by 7.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,404 shares of the computer hardware maker’s stock after selling 2,770 shares during the quarter. NVIDIA comprises 3.2% of Del Sette Capital Management LLC’s portfolio, making the stock its 14th biggest holding. Del Sette Capital Management LLC’s holdings in NVIDIA were worth $4,057,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. FMB Wealth Management lifted its stake in shares of NVIDIA by 34.2% during the 3rd quarter. FMB Wealth Management now owns 22,175 shares of the computer hardware maker’s stock valued at $2,693,000 after buying an additional 5,645 shares in the last quarter. Arrow Financial Corp lifted its position in shares of NVIDIA by 0.8% in the third quarter. Arrow Financial Corp now owns 184,943 shares of the computer hardware maker’s stock valued at $22,459,000 after acquiring an additional 1,525 shares in the last quarter. Avid Wealth Partners LLC boosted its stake in shares of NVIDIA by 12.6% in the third quarter. Avid Wealth Partners LLC now owns 6,350 shares of the computer hardware maker’s stock worth $771,000 after acquiring an additional 711 shares during the period. Privium Fund Management B.V. grew its position in shares of NVIDIA by 28.1% during the third quarter. Privium Fund Management B.V. now owns 73,000 shares of the computer hardware maker’s stock worth $8,864,000 after purchasing an additional 16,000 shares in the last quarter. Finally, Mach 1 Financial Group LLC raised its stake in NVIDIA by 14.1% during the 3rd quarter. Mach 1 Financial Group LLC now owns 25,785 shares of the computer hardware maker’s stock valued at $3,138,000 after purchasing an additional 3,191 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other NVIDIA news, Director Mark A. Stevens sold 40,000 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the sale, the director now owns 8,380,117 shares of the company’s stock, valued at $1,014,077,958.17. This represents a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,391,886 shares of company stock worth $181,666,050 in the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Redburn Atlantic initiated coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price target on the stock. Needham & Company LLC raised their price objective on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Loop Capital reissued a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research note on Wednesday, November 20th. Finally, HSBC raised their price target on NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Up 0.4 %

Shares of NASDAQ:NVDA opened at $140.22 on Thursday. The company has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.18, a PEG ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. The firm’s 50-day simple moving average is $139.84 and its 200-day simple moving average is $127.62. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the prior year, the business posted $0.38 EPS. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. As a group, equities research analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA announced that its Board of Directors has initiated a stock buyback plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding 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 typically a sign that the company’s leadership believes its stock is undervalued.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

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.