Norris Perne & French LLP MI Sells 567 Shares of NVIDIA Co. (NASDAQ:NVDA)

Norris Perne & French LLP MI reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 14,917 shares of the computer hardware maker’s stock after selling 567 shares during the period. Norris Perne & French LLP MI’s holdings in NVIDIA were worth $1,812,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Parkside Advisors LLC grew its holdings in shares of NVIDIA by 900.0% in the second quarter. Parkside Advisors LLC now owns 12,180 shares of the computer hardware maker’s stock valued at $1,505,000 after acquiring an additional 10,962 shares in the last quarter. Kingswood Wealth Advisors LLC grew its holdings in shares of NVIDIA by 1,382.4% in 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 in the last quarter. Astoria Portfolio Advisors LLC. grew its holdings in shares of NVIDIA by 926.3% in the second quarter. Astoria Portfolio Advisors LLC. now owns 93,723 shares of the computer hardware maker’s stock valued at $11,579,000 after acquiring an additional 84,591 shares in the last quarter. Stonebridge Capital Management Inc. grew its holdings in shares of NVIDIA by 930.7% in the second quarter. Stonebridge Capital Management Inc. now owns 45,370 shares of the computer hardware maker’s stock valued at $5,605,000 after acquiring an additional 40,968 shares in the last quarter. Finally, Naples Money Management LLC grew its holdings in shares of NVIDIA by 2,211.7% in the second quarter. Naples Money Management LLC now owns 105,020 shares of the computer hardware maker’s stock valued at $13,054,000 after acquiring an additional 100,477 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Down 2.2 %

NVDA opened at $134.25 on Friday. The stock has a market cap of $3.29 trillion, a PE ratio of 52.85, a P/E/G ratio of 2.52 and a beta of 1.63. 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 Co. has a 52 week low of $47.32 and a 52 week high of $152.89. The business’s fifty day simple moving average is $139.76 and its 200 day simple moving average is $126.60.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The firm’s revenue was up 93.6% on a year-over-year basis. As a group, research analysts expect that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed 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 currently 1.57%.

NVIDIA announced that its board has authorized a share buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits 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 management believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Redburn Atlantic assumed coverage on NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price for the company. William Blair assumed coverage on NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. UBS Group upped their price objective on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Morgan Stanley upped their price objective on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Activity

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,628,156 shares of company stock valued at $197,995,077. 4.23% of the stock is currently owned by insiders.

NVIDIA 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.