Empire Financial Management Company LLC Lowers Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Empire Financial Management Company LLC trimmed its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 19.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,243 shares of the computer hardware maker's stock after selling 4,338 shares during the period. Empire Financial Management Company LLC's holdings in NVIDIA were worth $2,215,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Legal & General Group Plc lifted its stake in shares of NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker's stock valued at $26,329,751,000 after purchasing an additional 191,469,114 shares during the period. Ameriprise Financial Inc. raised its holdings in NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker's stock worth $12,658,922,000 after purchasing an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in NVIDIA by 1,123.2% during the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker's stock valued at $11,371,255,000 after buying an additional 84,515,429 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker's stock valued at $10,215,474,000 after buying an additional 73,589,208 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of NVIDIA by 882.4% in the 2nd quarter. American Century Companies Inc. now owns 73,648,364 shares of the computer hardware maker's stock worth $9,098,519,000 after buying an additional 66,151,750 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

NASDAQ NVDA opened at $140.83 on Wednesday. The company has a market cap of $3.45 trillion, a P/E ratio of 55.42, a P/E/G ratio of 2.48 and a beta of 1.64. The business's 50 day moving average price is $138.84 and its 200-day moving average price is $129.11. NVIDIA Co. has a fifty-two week low of $58.58 and a fifty-two week high of $153.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS 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 company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the prior year, the firm posted $0.38 EPS. The firm's revenue was up 93.6% compared to the same quarter last year. Sell-side analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is 1.57%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Truist Financial boosted their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Phillip Securities restated 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. Mizuho lifted their price objective on NVIDIA from $165.00 to $175.00 and gave the company an "outperform" rating in a research note on Thursday, November 21st. UBS Group increased their target price on NVIDIA from $150.00 to $185.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $220.00 price objective on shares of NVIDIA in a research report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $164.63.

Insider Activity

In other news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction that occurred 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 sale, the director now owns 19,942 shares of the company's stock, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is currently owned by company insiders.

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.