CJM Wealth Advisers Ltd. Trims Position in NVIDIA Co. (NASDAQ:NVDA)

CJM Wealth Advisers Ltd. decreased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 22.7% during the third quarter, Holdings Channel reports. The institutional investor owned 5,939 shares of the computer hardware maker’s stock after selling 1,749 shares during the period. CJM Wealth Advisers Ltd.’s holdings in NVIDIA were worth $721,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Hamilton Wealth LLC raised its position in shares of NVIDIA by 0.3% in the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after purchasing an additional 9 shares during the last quarter. Curran Financial Partners LLC increased its holdings in NVIDIA by 1.8% in the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after buying an additional 12 shares during the period. Beacon Bridge Wealth Partners LLC raised its position in NVIDIA by 2.6% during the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after buying an additional 12 shares during the last quarter. Poehling Capital Management INC. lifted its stake in NVIDIA by 0.9% during the 1st quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock valued at $1,442,000 after acquiring an additional 14 shares during the period. Finally, FSA Wealth Management LLC boosted its holdings in shares of NVIDIA by 3.0% in the 1st quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock valued at $439,000 after acquiring an additional 14 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Sanford C. Bernstein lifted their price target on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a report on Tuesday, August 6th. DA Davidson reiterated a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Rosenblatt Securities restated a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Finally, UBS Group reissued a “buy” rating and set a $150.00 target price on shares of NVIDIA in a research note on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.07.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 155,000 shares of the business’s 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 transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Mark A. Stevens sold 155,000 shares of the company’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 sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 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 sale, the chief executive officer now directly owns 76,854,995 shares of the company’s stock, valued at $7,981,391,230.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,396,270 shares of company stock valued at $279,825,927 in the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Price Performance

Shares of NVDA opened at $136.05 on Tuesday. The business has a 50-day moving average of $125.45 and a 200-day moving average of $116.60. NVIDIA Co. has a 1 year low of $44.90 and a 1 year high of $144.42. The company has a market capitalization of $3.34 trillion, a price-to-earnings ratio of 63.87, a price-to-earnings-growth ratio of 1.40 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

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. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

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

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

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.