NVIDIA Co. (NASDAQ:NVDA) is Forte Capital LLC ADV's 5th Largest Position

Forte Capital LLC ADV trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 244,006 shares of the computer hardware maker's stock after selling 4,557 shares during the quarter. NVIDIA makes up approximately 3.4% of Forte Capital LLC ADV's holdings, making the stock its 5th largest position. Forte Capital LLC ADV's holdings in NVIDIA were worth $29,632,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NVDA. CGC Financial Services LLC purchased a new position in shares of NVIDIA during the second quarter valued at approximately $26,000. Quest Partners LLC bought a new position in NVIDIA during the 2nd quarter valued at approximately $27,000. Christopher J. Hasenberg Inc purchased a new position in NVIDIA during the third quarter valued at $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in NVIDIA in the second quarter worth $31,000. Finally, FPC Investment Advisory Inc. increased its holdings in shares of NVIDIA by 900.0% during the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker's stock valued at $34,000 after acquiring an additional 261 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Price Performance

Shares of NASDAQ NVDA traded up $4.02 during mid-day trading on Friday, reaching $134.70. The company's stock had a trading volume of 304,377,688 shares, compared to its average volume of 382,932,125. The stock has a fifty day moving average of $139.63 and a two-hundred day moving average of $127.32. The firm has a market capitalization 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 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 current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced 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. 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 analyst estimates of $33.15 billion. During the same period last year, the firm posted $0.38 EPS. The company's revenue was up 93.6% on a year-over-year basis. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA declared that its board has approved a stock buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management 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. The ex-dividend date is 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 is currently 1.57%.

Insider Activity at NVIDIA

In other news, Director Mark A. Stevens sold 165,100 shares of the company's stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the sale, the director now directly owns 8,420,117 shares of the company's stock, valued at $1,021,107,588.59. This represents a 1.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Dabiri sold 716 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares of the company's stock, 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. Over the last three months, insiders sold 1,556,986 shares of company stock valued at $201,687,727. Insiders own 4.23% of the company's stock.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of analyst reports. Phillip Securities reiterated an "accumulate" rating and issued a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Morgan Stanley increased their price target on shares of NVIDIA from $150.00 to $160.00 and gave the company an "overweight" rating in a report on Monday, November 11th. Melius Research boosted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Piper Sandler increased their target price on NVIDIA from $140.00 to $175.00 and gave the company an "overweight" rating in a research note on Monday, November 11th. Finally, Benchmark boosted their price target on NVIDIA from $170.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. Four research 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.