Avondale Wealth Management Sells 267 Shares of NVIDIA Co. (NASDAQ:NVDA)

Avondale Wealth Management trimmed its position in NVIDIA Co. (NASDAQ:NVDA) by 12.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,928 shares of the computer hardware maker’s stock after selling 267 shares during the quarter. NVIDIA makes up 0.7% of Avondale Wealth Management’s holdings, making the stock its 20th largest position. Avondale Wealth Management’s holdings in NVIDIA were worth $816,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Contravisory Investment Management Inc. bought a new stake in shares of NVIDIA in the 1st quarter valued at about $28,000. Nordwand Advisors LLC bought a new position in NVIDIA in the 1st quarter valued at about $28,000. Quarry LP bought a new position in NVIDIA in the 1st quarter valued at about $34,000. Financial Connections Group Inc. raised its holdings in NVIDIA by 605.7% in the 4th quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock valued at $36,000 after acquiring an additional 212 shares during the period. Finally, Chelsea Counsel Co. bought a new position in NVIDIA in the 4th quarter valued at about $37,000. 64.79% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Jen Hsun Huang sold 29,688 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $454.01, for a total transaction of $13,478,648.88. Following the completion of the transaction, the chief executive officer now owns 7,918,875 shares of the company’s stock, valued at $3,595,248,438.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Colette Kress sold 4,980 shares of NVIDIA stock in a transaction on Monday, August 28th. The shares were sold at an average price of $460.74, for a total transaction of $2,294,485.20. Following the completion of the transaction, the chief financial officer now owns 499,428 shares of the company’s stock, valued at $230,106,456.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $454.01, for a total transaction of $13,478,648.88. Following the completion of the sale, the chief executive officer now directly owns 7,918,875 shares of the company’s stock, valued at $3,595,248,438.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,515 shares of company stock valued at $85,008,631. Insiders own 3.99% of the company’s stock.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $439.00 on Friday. NVIDIA Co. has a fifty-two week low of $108.13 and a fifty-two week high of $502.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.37. The firm has a market capitalization of $1.08 trillion, a P/E ratio of 106.04, a P/E/G ratio of 3.57 and a beta of 1.74. The company’s 50 day moving average price is $454.96 and its two-hundred day moving average price is $363.57.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.62. The firm had revenue of $13.51 billion during the quarter, compared to the consensus estimate of $11.19 billion. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The company’s revenue for the quarter was up 101.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 earnings per share. On average, equities analysts forecast that NVIDIA Co. will post 9.46 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 7th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.04%. The ex-dividend date of this dividend is Wednesday, September 6th. NVIDIA’s payout ratio is currently 3.86%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Phillip Securities raised shares of NVIDIA from an “accumulate” rating to a “buy” rating in a report on Monday, August 28th. Susquehanna increased their price target on shares of NVIDIA from $575.00 to $600.00 and gave the company a “positive” rating in a report on Thursday, August 24th. Mizuho increased their price target on shares of NVIDIA from $530.00 to $590.00 and gave the company a “buy” rating in a report on Thursday, August 24th. BNP Paribas raised shares of NVIDIA from a “neutral” rating to an “outperform” rating and set a $745.00 price target on the stock in a report on Thursday, August 24th. Finally, Daiwa Capital Markets raised shares of NVIDIA from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $408.00 to $475.00 in a report on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $555.70.

NVIDIA 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.