Claro Advisors LLC Cuts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Claro Advisors LLC cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 96.6% in the third quarter, HoldingsChannel reports. The firm owned 3,496 shares of the computer hardware maker’s stock after selling 98,415 shares during the quarter. Claro Advisors LLC’s holdings in NVIDIA were worth $425,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC lifted its stake in NVIDIA by 8.6% in the third quarter. V Square Quantitative Management LLC now owns 492,427 shares of the computer hardware maker’s stock worth $59,800,000 after acquiring an additional 38,848 shares during the last quarter. Well Done LLC raised its holdings in shares of NVIDIA by 4.0% in the 3rd quarter. Well Done LLC now owns 8,110 shares of the computer hardware maker’s stock valued at $985,000 after purchasing an additional 311 shares in the last quarter. Sax Wealth Advisors LLC lifted its position in shares of NVIDIA by 15.9% during the 3rd quarter. Sax Wealth Advisors LLC now owns 44,980 shares of the computer hardware maker’s stock worth $5,462,000 after purchasing an additional 6,167 shares during the last quarter. BCS Wealth Management grew its stake in shares of NVIDIA by 85.6% during the third quarter. BCS Wealth Management now owns 19,420 shares of the computer hardware maker’s stock worth $2,358,000 after purchasing an additional 8,959 shares in the last quarter. Finally, Madrona Financial Services LLC increased its holdings in NVIDIA by 5.3% in the third quarter. Madrona Financial Services LLC now owns 10,285 shares of the computer hardware maker’s stock valued at $1,249,000 after buying an additional 518 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NVDA shares. Benchmark upped their price objective on NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley upped their price target on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 11th. The Goldman Sachs Group raised their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday. Evercore ISI upped their target price on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Phillip Securities reaffirmed an “accumulate” rating and issued a $160.00 target price (up from $155.00) on shares of NVIDIA in a research report on Friday. 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Down 3.2 %

Shares of NASDAQ:NVDA opened at $141.95 on Friday. The company has a market capitalization of $3.48 trillion, a PE ratio of 55.89, a P/E/G ratio of 1.53 and a beta of 1.66. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $152.89. The company’s fifty day moving average is $134.01 and its 200-day moving average is $122.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.79 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. Equities research analysts predict that NVIDIA Co. will post 2.68 earnings per share for the current fiscal year.

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 given a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

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

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on 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 transaction, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 1.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock worth $254,784,327 in the last three months. Insiders own 4.23% of the company’s stock.

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.