Consolidated Planning Corp Trims Position in NVIDIA Co. (NASDAQ:NVDA)

Consolidated Planning Corp decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 23.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,793 shares of the computer hardware maker’s stock after selling 19,340 shares during the quarter. NVIDIA comprises about 1.2% of Consolidated Planning Corp’s investment portfolio, making the stock its 21st biggest position. Consolidated Planning Corp’s holdings in NVIDIA were worth $7,868,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Global Strategic Investment Solutions LLC increased its stake in shares of NVIDIA by 5.9% during the 3rd quarter. Global Strategic Investment Solutions LLC now owns 21,681 shares of the computer hardware maker’s stock valued at $2,633,000 after acquiring an additional 1,208 shares during the last quarter. JB Capital LLC grew its holdings in NVIDIA by 5.6% in the third quarter. JB Capital LLC now owns 37,157 shares of the computer hardware maker’s stock valued at $4,512,000 after purchasing an additional 1,983 shares during the period. Keudell Morrison Wealth Management increased its position in NVIDIA by 0.6% during the third quarter. Keudell Morrison Wealth Management now owns 20,706 shares of the computer hardware maker’s stock worth $2,515,000 after purchasing an additional 132 shares during the last quarter. Valley Brook Capital Group Inc. raised its stake in NVIDIA by 2.5% during the third quarter. Valley Brook Capital Group Inc. now owns 33,386 shares of the computer hardware maker’s stock worth $4,054,000 after purchasing an additional 830 shares during the period. Finally, Kornitzer Capital Management Inc. KS boosted its holdings in shares of NVIDIA by 2.6% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 256,490 shares of the computer hardware maker’s stock valued at $31,148,000 after purchasing an additional 6,475 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 3.1 %

Shares of NVIDIA stock opened at $134.70 on Monday. The stock has a market capitalization of $3.30 trillion, a P/E ratio of 53.01, a P/E/G ratio of 2.43 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock’s 50-day simple moving average is $139.63 and its 200 day simple moving average is $127.32. NVIDIA Co. has a 52-week low of $47.32 and a 52-week high of $152.89.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the prior year, the business posted $0.38 earnings per share. The company’s revenue was up 93.6% on a year-over-year basis. As a group, research analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA announced that its Board of Directors has approved a stock buyback plan 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 purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 165,100 shares of NVIDIA stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the sale, the director now owns 8,420,117 shares of the company’s stock, valued at approximately $1,021,107,588.59. The trade was a 1.92 % decrease in their position. The sale 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 that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the transaction, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,556,986 shares of company stock valued at $201,687,727 over the last 90 days. Insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Oppenheimer restated an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. Barclays increased their target price on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Raymond James lifted their price target on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. HSBC increased their price objective on shares of NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Piper Sandler raised their target price on shares of NVIDIA from $140.00 to $175.00 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 given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $164.15.

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.