Institutional & Family Asset Management LLC Sells 84 Shares of NVIDIA Co. (NASDAQ:NVDA)

Institutional & Family Asset Management LLC cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 11.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 655 shares of the computer hardware maker’s stock after selling 84 shares during the period. Institutional & Family Asset Management LLC’s holdings in NVIDIA were worth $277,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in NVIDIA by 3.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 431,322 shares of the computer hardware maker’s stock worth $182,458,000 after buying an additional 14,291 shares during the period. Trivest Advisors Ltd lifted its stake in NVIDIA by 48.1% in the 2nd quarter. Trivest Advisors Ltd now owns 1,197,800 shares of the computer hardware maker’s stock worth $506,693,000 after purchasing an additional 388,800 shares in the last quarter. River Wealth Advisors LLC lifted its stake in NVIDIA by 24.5% in the 2nd quarter. River Wealth Advisors LLC now owns 14,586 shares of the computer hardware maker’s stock worth $6,170,000 after purchasing an additional 2,866 shares in the last quarter. Sheets Smith Wealth Management lifted its stake in NVIDIA by 30.6% in the 2nd quarter. Sheets Smith Wealth Management now owns 8,608 shares of the computer hardware maker’s stock worth $3,641,000 after purchasing an additional 2,016 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. lifted its stake in NVIDIA by 52.2% in the 2nd quarter. Financial Gravity Asset Management Inc. now owns 423 shares of the computer hardware maker’s stock worth $11,276,000 after purchasing an additional 145 shares in the last quarter. 64.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Oppenheimer increased their target price on shares of NVIDIA from $500.00 to $650.00 and gave the stock an “outperform” rating in a research note on Thursday, August 24th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of NVIDIA from $440.00 to $560.00 and gave the company a “hold” rating in a research report on Thursday, August 24th. JPMorgan Chase & Co. raised their price objective on shares of NVIDIA from $500.00 to $600.00 and gave the company an “overweight” rating in a research report on Thursday, August 24th. Raymond James raised their price objective on shares of NVIDIA from $500.00 to $600.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 24th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $675.00 price objective on shares of NVIDIA in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $571.49.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 29,688 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $448.99, for a total transaction of $13,329,615.12. Following the completion of the transaction, the chief executive officer now owns 7,918,875 shares of the company’s stock, valued at approximately $3,555,495,686.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Jen Hsun Huang sold 29,688 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $448.99, for a total transaction of $13,329,615.12. Following the completion of the transaction, the chief executive officer now owns 7,918,875 shares of the company’s stock, valued at approximately $3,555,495,686.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 4,980 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $460.74, for a total value of $2,294,485.20. Following the transaction, the chief financial officer now directly owns 499,428 shares of the company’s stock, valued at approximately $230,106,456.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 145,232 shares of company stock valued at $67,606,089. Corporate insiders own 3.99% of the company’s stock.

NVIDIA Stock Down 0.4 %

Shares of NASDAQ:NVDA opened at $492.98 on Monday. NVIDIA Co. has a 52-week low of $138.84 and a 52-week high of $502.66. The firm has a market capitalization of $1.22 trillion, a P/E ratio of 119.08, a P/E/G ratio of 3.80 and a beta of 1.69. The stock has a 50 day moving average price of $444.17 and a 200-day moving average price of $424.16. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.37 and a current ratio of 2.79.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.62. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. The firm had revenue of $13.51 billion during the quarter, compared to analyst estimates of $11.19 billion. During the same quarter in the prior year, the company earned $0.32 EPS. The business’s revenue was up 101.5% compared to the same quarter last year. As a group, equities research analysts anticipate that NVIDIA Co. will post 9.66 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 7th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, September 6th. NVIDIA’s dividend payout ratio is currently 3.86%.

NVIDIA Company Profile

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.