Strid Group LLC Sells 290 Shares of NVIDIA Co. (NASDAQ:NVDA)

Strid Group LLC decreased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 14.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,770 shares of the computer hardware maker’s stock after selling 290 shares during the period. Strid Group LLC’s holdings in NVIDIA were worth $215,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Berkshire Money Management Inc. increased its position in shares of NVIDIA by 5.6% during the third quarter. Berkshire Money Management Inc. now owns 14,106 shares of the computer hardware maker’s stock worth $1,713,000 after acquiring an additional 746 shares in the last quarter. Harbour Capital Advisors LLC increased its position in shares of NVIDIA by 2.4% during the third quarter. Harbour Capital Advisors LLC now owns 43,180 shares of the computer hardware maker’s stock worth $5,728,000 after acquiring an additional 1,010 shares in the last quarter. NatWest Group plc increased its position in shares of NVIDIA by 5.8% during the third quarter. NatWest Group plc now owns 192,521 shares of the computer hardware maker’s stock worth $23,380,000 after acquiring an additional 10,607 shares in the last quarter. Heirloom Wealth Management increased its position in shares of NVIDIA by 2.1% during the third quarter. Heirloom Wealth Management now owns 172,052 shares of the computer hardware maker’s stock worth $20,894,000 after acquiring an additional 3,459 shares in the last quarter. Finally, TruWealth Advisors LLC increased its position in shares of NVIDIA by 2.5% during the third quarter. TruWealth Advisors LLC now owns 39,085 shares of the computer hardware maker’s stock worth $4,747,000 after acquiring an additional 950 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NASDAQ:NVDA opened at $141.95 on Friday. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $152.89. The firm has a market cap of $3.48 trillion, a price-to-earnings ratio of 66.58, a P/E/G ratio of 1.54 and a beta of 1.66. The firm’s 50-day simple moving average is $134.01 and its 200 day simple moving average is $122.06. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same period last year, the firm earned $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, sell-side analysts predict that NVIDIA Co. will post 2.68 earnings per share for the current year.

NVIDIA declared that its board has approved a stock repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio is 1.88%.

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’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 directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Redburn Atlantic started coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective for the company. HSBC raised their target price on shares of NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research 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 target price for the company in a research report on Tuesday, August 6th. Stifel Nicolaus raised their target price on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Bank of America reaffirmed a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research report on Thursday. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $164.15.

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.