Wolff Wiese Magana LLC Sells 6,115 Shares of NVIDIA Co. (NASDAQ:NVDA)

Wolff Wiese Magana LLC lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 10.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,831 shares of the computer hardware maker's stock after selling 6,115 shares during the period. NVIDIA accounts for approximately 4.6% of Wolff Wiese Magana LLC's holdings, making the stock its biggest position. Wolff Wiese Magana LLC's holdings in NVIDIA were worth $6,659,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Hamilton Wealth LLC raised its holdings in shares of NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker's stock valued at $2,839,000 after acquiring an additional 9 shares in the last quarter. Poehling Capital Management INC. raised its holdings in shares of NVIDIA by 0.9% in the first quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker's stock valued at $1,442,000 after acquiring an additional 14 shares in the last quarter. FSA Wealth Management LLC raised its holdings in shares of NVIDIA by 3.0% in the first quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker's stock valued at $439,000 after acquiring an additional 14 shares in the last quarter. Clean Yield Group raised its holdings in shares of NVIDIA by 0.8% in the first quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker's stock valued at $1,622,000 after acquiring an additional 15 shares in the last quarter. Finally, Bell Investment Advisors Inc raised its holdings in shares of NVIDIA by 1.3% in the first quarter. Bell Investment Advisors Inc now owns 1,208 shares of the computer hardware maker's stock valued at $1,092,000 after acquiring an additional 16 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NVDA shares. Loop Capital restated a "buy" rating and issued a $175.00 price objective on shares of NVIDIA in a report on Wednesday. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $100.00 price objective on shares of NVIDIA in a report on Monday, August 5th. JPMorgan Chase & Co. lifted their target price on NVIDIA from $115.00 to $155.00 and gave the company an "overweight" rating in a research note on Thursday, August 29th. Mizuho lifted their target price on NVIDIA from $140.00 to $165.00 and gave the company an "outperform" rating in a research note on Tuesday, November 12th. Finally, New Street Research upgraded NVIDIA from a "neutral" rating to a "buy" rating and set a $120.00 price target on the stock in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of "Moderate Buy" and an average target price of $154.63.

NVIDIA Trading Down 0.8 %

Shares of NVDA stock opened at $145.89 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company has a market cap of $3.58 trillion, a price-to-earnings ratio of 68.43, a PEG ratio of 1.54 and a beta of 1.66. The stock has a 50 day simple moving average of $133.00 and a 200-day simple moving average of $121.54. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $149.77.

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, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $35.08 billion during the quarter, compared to analysts' expectations of $33.15 billion. During the same period in the previous year, the business earned $0.38 earnings per share. The firm's revenue for the quarter was up 93.6% on a year-over-year basis. On average, equities research analysts expect that NVIDIA Co. will post 2.68 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA's payout ratio is 1.88%.

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

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the company's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. This represents a 1.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $119.03, for a total value of $14,283,600.00. Following the transaction, the chief executive officer now owns 76,494,995 shares of the company's stock, valued at approximately $9,105,199,254.85. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is owned by corporate insiders.

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.