Northeast Financial Consultants Inc Reduces Position in NVIDIA Co. (NASDAQ:NVDA)

Northeast Financial Consultants Inc cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 173,131 shares of the computer hardware maker’s stock after selling 1,414 shares during the quarter. NVIDIA comprises 0.9% of Northeast Financial Consultants Inc’s investment portfolio, making the stock its 24th biggest position. Northeast Financial Consultants Inc’s holdings in NVIDIA were worth $21,025,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of NVDA. University of Texas Texas AM Investment Management Co. grew its stake in shares of NVIDIA by 897.5% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after buying an additional 107,169 shares during the period. Truepoint Inc. grew its position in NVIDIA by 914.1% in the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after acquiring an additional 11,709 shares during the period. Westwood Holdings Group Inc. increased its stake in NVIDIA by 683.9% during the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after acquiring an additional 208,362 shares during the last quarter. Palisade Asset Management LLC raised its position in NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after purchasing an additional 75 shares during the period. Finally, Blue Square Asset Management LLC lifted its stake in shares of NVIDIA by 26.7% in the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after purchasing an additional 10,136 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the sale, the insider now owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock valued at $146,506,958 over the last 90 days. Insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NVDA. Susquehanna boosted their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. 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. The Goldman Sachs Group lifted their price objective on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, DA Davidson increased their target price on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $164.63.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $137.71 on Monday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $138.99 and its 200 day moving average price is $129.04. NVIDIA Co. has a 52 week low of $56.11 and a 52 week high of $153.13. The stock has a market cap of $3.37 trillion, a price-to-earnings ratio of 54.20, a PEG ratio of 2.45 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period last year, the company posted $0.38 EPS. The company’s revenue was up 93.6% on a year-over-year basis. As a group, research analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.01 per share. The ex-dividend date was 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 presently 1.57%.

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.