NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Reston Wealth Management LLC

Reston Wealth Management LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 6.8% in the third quarter, HoldingsChannel reports. The fund owned 6,997 shares of the computer hardware maker’s stock after selling 514 shares during the quarter. NVIDIA makes up 0.3% of Reston Wealth Management LLC’s holdings, making the stock its 22nd largest holding. Reston Wealth Management LLC’s holdings in NVIDIA were worth $850,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Parkside Advisors LLC lifted its stake in NVIDIA by 900.0% during the second quarter. Parkside Advisors LLC now owns 12,180 shares of the computer hardware maker’s stock valued at $1,505,000 after purchasing an additional 10,962 shares during the last quarter. Kingswood Wealth Advisors LLC raised its holdings in shares of NVIDIA by 1,382.4% during the second quarter. Kingswood Wealth Advisors LLC now owns 488,008 shares of the computer hardware maker’s stock valued at $60,289,000 after acquiring an additional 455,087 shares during the period. Astoria Portfolio Advisors LLC. increased its stake in NVIDIA by 926.3% in the 2nd quarter. Astoria Portfolio Advisors LLC. now owns 93,723 shares of the computer hardware maker’s stock valued at $11,579,000 after buying an additional 84,591 shares during the period. Stonebridge Capital Management Inc. increased its stake in NVIDIA by 930.7% in the 2nd quarter. Stonebridge Capital Management Inc. now owns 45,370 shares of the computer hardware maker’s stock valued at $5,605,000 after buying an additional 40,968 shares during the period. Finally, Naples Money Management LLC increased its stake in NVIDIA by 2,211.7% in the 2nd quarter. Naples Money Management LLC now owns 105,020 shares of the computer hardware maker’s stock valued at $13,054,000 after buying an additional 100,477 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several recent research reports. Bank of America reissued a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Raymond James upped their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 14th. Barclays increased their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. William Blair initiated coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Finally, Benchmark increased their price objective on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $164.15.

Insiders Place Their Bets

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,628,156 shares of company stock worth $197,995,077. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 2.2 %

Shares of NASDAQ NVDA opened at $134.25 on Friday. The firm’s 50-day moving average is $139.76 and its 200-day moving average is $126.60. NVIDIA Co. has a 1 year low of $47.32 and a 1 year high of $152.89. The firm has a market capitalization of $3.29 trillion, a PE ratio of 52.85, a price-to-earnings-growth ratio of 2.52 and a beta of 1.63. 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 released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the firm earned $0.38 EPS. NVIDIA’s quarterly revenue was up 93.6% compared to the same quarter last year. Equities analysts expect that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA Announces Dividend

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

NVIDIA declared that its Board of Directors has authorized a share buyback program 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 repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management 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.