Financial Enhancement Group LLC Decreases Holdings in NVIDIA Co. (NASDAQ:NVDA)

Financial Enhancement Group LLC reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 89.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,588 shares of the computer hardware maker's stock after selling 47,384 shares during the period. Financial Enhancement Group LLC's holdings in NVIDIA were worth $679,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Lantz Financial LLC increased its holdings in NVIDIA by 833.1% during the 2nd quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker's stock valued at $5,088,000 after purchasing an additional 36,774 shares in the last quarter. Conrad Siegel Investment Advisors Inc. increased its stake in shares of NVIDIA by 1,039.8% in the second quarter. Conrad Siegel Investment Advisors Inc. now owns 8,024 shares of the computer hardware maker's stock valued at $991,000 after buying an additional 7,320 shares in the last quarter. Allied Investment Advisors LLC bought a new position in shares of NVIDIA in the second quarter valued at about $322,000. Scott Capital Advisors LLC lifted its position in NVIDIA by 1,279.1% during the 2nd quarter. Scott Capital Advisors LLC now owns 13,157 shares of the computer hardware maker's stock worth $1,729,000 after buying an additional 12,203 shares in the last quarter. Finally, Jacobs & Co. CA grew its holdings in NVIDIA by 830.6% during the 2nd quarter. Jacobs & Co. CA now owns 344,454 shares of the computer hardware maker's stock worth $42,553,000 after acquiring an additional 307,438 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on NVDA. Wells Fargo & Company upped their price objective on NVIDIA from $165.00 to $185.00 and gave the company an "overweight" rating in a report on Thursday, November 21st. Phillip Securities reissued an "accumulate" rating and set a $160.00 price objective (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Benchmark upped their target price on shares of NVIDIA from $170.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, November 21st. Westpark Capital lifted their price target on shares of NVIDIA from $127.50 to $165.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Finally, Loop Capital restated a "buy" rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $164.15.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 40,000 shares of the company's stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the sale, the director now owns 8,380,117 shares in the company, valued at $1,014,077,958.17. This represents a 0.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,556,986 shares of company stock worth $201,687,727. Corporate insiders own 4.23% of the company's stock.

NVIDIA Trading Up 3.1 %

Shares of NVDA stock opened at $134.70 on Friday. 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 company has a market cap of $3.30 trillion, a PE ratio of 53.01, a P/E/G ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. The stock's fifty day moving average price is $139.63 and its two-hundred day moving average price is $127.25.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm's quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter last year, the business earned $0.38 EPS. Equities analysts predict that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be issued 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 currently 1.57%.

NVIDIA declared that its board has authorized a stock buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its shares are undervalued.

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.