Nations Financial Group Inc. IA ADV Sells 2,487 Shares of NVIDIA Co. (NASDAQ:NVDA)

Nations Financial Group Inc. IA ADV lessened its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1.1% during the third quarter, HoldingsChannel.com reports. The fund owned 234,124 shares of the computer hardware maker’s stock after selling 2,487 shares during the quarter. NVIDIA makes up about 2.1% of Nations Financial Group Inc. IA ADV’s portfolio, making the stock its 4th biggest holding. Nations Financial Group Inc. IA ADV’s holdings in NVIDIA were worth $28,432,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NVDA. CGC Financial Services LLC purchased a new stake in NVIDIA during the 2nd quarter worth $26,000. Quest Partners LLC acquired a new position in shares of NVIDIA in the second quarter worth about $27,000. Christopher J. Hasenberg Inc purchased a new position in NVIDIA in the third quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in NVIDIA during the 2nd quarter worth approximately $31,000. Finally, FPC Investment Advisory Inc. raised its position in shares of NVIDIA by 900.0% in the 2nd quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock valued at $34,000 after purchasing an additional 261 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Down 2.1 %

Shares of NVDA opened at $137.01 on Friday. The firm has a market capitalization of $3.36 trillion, a price-to-earnings ratio of 53.92, a PEG ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a 52 week low of $47.32 and a 52 week high of $152.89. 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 business’s fifty day moving average price is $139.97 and its two-hundred day moving average price is $127.90.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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 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 period in the prior year, the business posted $0.38 earnings per share. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. On average, analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were paid a $0.01 dividend. The ex-dividend date of this dividend was 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%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NVDA shares. Bank of America reissued a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Robert W. Baird lifted their target price on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Morgan Stanley upped their price target on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Wedbush lifted their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Evercore ISI increased their target price on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Activity

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the transaction, the insider now directly owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. This represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Dabiri sold 716 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,351,886 shares of company stock worth $176,825,650 in the last 90 days. Corporate insiders own 4.23% of the company’s stock.

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.