Independent Solutions Wealth Management LLC Cuts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Independent Solutions Wealth Management LLC lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,906 shares of the computer hardware maker’s stock after selling 1,326 shares during the period. NVIDIA comprises approximately 2.9% of Independent Solutions Wealth Management LLC’s investment portfolio, making the stock its 6th biggest position. Independent Solutions Wealth Management LLC’s holdings in NVIDIA were worth $12,861,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. SMART Wealth LLC boosted its stake in shares of NVIDIA by 24.6% during the third quarter. SMART Wealth LLC now owns 18,564 shares of the computer hardware maker’s stock valued at $2,254,000 after purchasing an additional 3,670 shares during the period. Brass Tax Wealth Management Inc. boosted its position in NVIDIA by 53.0% in the 3rd quarter. Brass Tax Wealth Management Inc. now owns 2,845 shares of the computer hardware maker’s stock valued at $346,000 after buying an additional 985 shares during the period. Legacy Wealth Management LLC MS grew its stake in NVIDIA by 60.5% in the 3rd quarter. Legacy Wealth Management LLC MS now owns 42,765 shares of the computer hardware maker’s stock worth $5,193,000 after acquiring an additional 16,115 shares in the last quarter. SPX Gestao de Recursos Ltda increased its position in shares of NVIDIA by 3.7% during the third quarter. SPX Gestao de Recursos Ltda now owns 128,063 shares of the computer hardware maker’s stock worth $15,552,000 after acquiring an additional 4,523 shares during the period. Finally, Alternative Investment Advisors LLC. raised its stake in shares of NVIDIA by 15.0% during the third quarter. Alternative Investment Advisors LLC. now owns 19,571 shares of the computer hardware maker’s stock valued at $2,377,000 after acquiring an additional 2,547 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Up 3.1 %

NASDAQ:NVDA opened at $134.70 on Friday. 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 Co. has a 1-year low of $47.32 and a 1-year high of $152.89. The business’s fifty day moving average price is $139.63 and its 200 day moving average price is $127.32. The firm has a market capitalization of $3.30 trillion, a price-to-earnings ratio of 53.01, a PEG ratio of 2.43 and a beta of 1.63.

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, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 EPS. On average, sell-side analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

NVIDIA Dividend Announcement

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

Insider Transactions at NVIDIA

In related news, Director John Dabiri sold 716 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,556,986 shares of company stock valued at $201,687,727 over the last 90 days. 4.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NVDA has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised their price objective on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. Susquehanna lifted their price objective on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Loop Capital reissued a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research report on Wednesday, November 20th. Mizuho upped their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Citigroup lifted their price objective on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned 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.

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.