Sheets Smith Wealth Management has decreased its investment in NVIDIA Corporation (NASDAQ: NVDA) by 3.9% during the third quarter. According to a recent filing with the Securities and Exchange Commission, the firm sold 3,059 shares, leaving it with a total of 75,944 shares. NVIDIA now represents approximately 1.6% of Sheets Smith’s overall portfolio, ranking as its tenth largest investment. The remaining holdings in NVIDIA were valued at about $14.17 million as of the latest disclosure.
Other institutional investors have also made adjustments to their stakes in NVIDIA. For example, Websterrogers Financial Advisors LLC increased its holdings by 2.6% during the same quarter, acquiring an additional 54 shares to reach a total of 2,118 shares, worth approximately $395,000. Similarly, Helen Stephens Group LLC boosted its stake by 3.9%, acquiring 56 additional shares for a total of 1,483 shares valued at $277,000.
Furthermore, Morton Brown Family Wealth LLC raised its holdings by 1.5%, owning 3,928 shares worth around $621,000 after acquiring 58 shares. Roof Eidam Maycock Peralta LLC increased its holdings by 0.3%, bringing its total to 20,903 shares valued at $3.30 million. Lastly, Alpha Wealth Funds LLC added 59 shares, increasing its total to 4,634 shares worth $732,000. Overall, approximately 65.27% of NVIDIA’s stock is held by institutional investors and hedge funds.
Analyst reports have been varied, with multiple upgrades and downgrades for NVIDIA. For instance, on November 18, BNP Paribas Exane raised its price target on NVIDIA shares from $240.00 to $250.00 and assigned an “outperform” rating. Conversely, Seaport Global Securities increased its price objective from $100.00 to $140.00, but gave a “sell” rating.
In total, five analysts have rated NVIDIA with a Strong Buy, while 46 have assigned a Buy rating, two have issued a Hold rating, and one has rated it as a Sell. According to data from MarketBeat, the stock currently holds an average rating of “Buy” with a target price of $262.14.
In insider transactions, Director Harvey C. Jones sold 250,000 shares on December 15 at an average price of $177.33, totaling $44,332,500. Following this sale, he still holds 6,933,280 shares valued at approximately $1.23 billion, reflecting a 3.48% decrease in his ownership. Another director, Mark A. Stevens, sold 222,500 shares on December 19 at an average price of $180.17, amounting to $40,087,825. After this transaction, Stevens owns 7,621,453 shares valued at around $1.37 billion, a 2.84% decrease in his stake. Insiders have sold a total of 1,936,474 shares worth $354.36 million in the last quarter, with insiders holding 4.17% of the company’s stock.
As of the last trading session, NVIDIA shares opened at $188.85. The company has experienced a 52-week range between $86.62 and $212.19. Financial metrics show a quick ratio of 3.71, a current ratio of 4.47, and a debt-to-equity ratio of 0.06. The stock has a fifty-day moving average of $186.62 and a two-hundred-day moving average of $178.30. NVIDIA boasts a market capitalization of approximately $4.59 trillion, with a price-to-earnings ratio of 46.86 and a price-to-earnings-growth ratio of 0.92.
In its latest earnings report, NVIDIA announced earnings per share of $1.30, surpassing analyst expectations of $1.23 by $0.07. The company’s revenue for the quarter reached $57.01 billion, exceeding the consensus estimate of $54.66 billion, and marking a 62.5% increase compared to the same quarter last year.
Recently, NVIDIA also declared a quarterly dividend, which was paid on December 26. Shareholders on record as of December 4 received a dividend of $0.01 per share, translating to an annualized dividend of $0.04 and a yield of 0.0%. The company’s payout ratio stands at 0.99%.
As NVIDIA navigates a competitive landscape, investor sentiment remains mixed, influenced by both positive and negative factors. The company’s strategic initiatives, such as the anticipated acquisition of Groq and its focus on AI technology, suggest ongoing growth potential. Nonetheless, concerns persist regarding margin sustainability amid rising competition and pricing pressures in the semiconductor sector.
