Altus Wealth Management LLC Sells 8,140 Shares of NVIDIA Corporation $NVDA

Altus Wealth Management LLC trimmed its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 77.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,355 shares of the computer hardware maker's stock after selling 8,140 shares during the period. NVIDIA makes up about 0.2% of Altus Wealth Management LLC's investment portfolio, making the stock its 23rd largest holding. Altus Wealth Management LLC's holdings in NVIDIA were worth $372,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NVDA. Kathleen S. Wright Associates Inc. boosted its stake in NVIDIA by 169.3% during the 1st quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker's stock valued at $44,000 after purchasing an additional 254 shares during the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new stake in NVIDIA during the 1st quarter valued at $51,000. Bruce G. Allen Investments LLC boosted its stake in NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after purchasing an additional 327 shares during the last quarter. Legend Financial Advisors Inc. purchased a new stake in NVIDIA during the 2nd quarter valued at $55,000. Finally, Campbell Capital Management Inc. boosted its stake in shares of NVIDIA by 5,900.0% in the 1st quarter. Campbell Capital Management Inc. now owns 600 shares of the computer hardware maker's stock worth $65,000 after buying an additional 590 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Citigroup restated a "buy" rating and issued a $210.00 price target (up from $200.00) on shares of NVIDIA in a research note on Tuesday, September 30th. Piper Sandler set a $225.00 price target on NVIDIA and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. New Street Research raised their price target on NVIDIA from $200.00 to $235.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Phillip Securities upgraded NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, July 14th. Finally, Bank of America raised their price target on NVIDIA from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Four analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $212.84.

Insider Activity

In related news, CFO Colette Kress sold 30,500 shares of NVIDIA stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $176.40, for a total value of $5,380,200.00. Following the completion of the transaction, the chief financial officer owned 2,883,402 shares in the company, valued at approximately $508,632,112.80. This trade represents a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $190.20, for a total value of $14,265,000.00. Following the completion of the transaction, the chief executive officer owned 70,558,203 shares of the company's stock, valued at approximately $13,420,170,210.60. This represents a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,925,379 shares of company stock worth $694,277,421 over the last ninety days. Insiders own 4.17% of the company's stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $183.16 on Friday. The company has a market capitalization of $4.45 trillion, a P/E ratio of 52.18, a P/E/G ratio of 1.32 and a beta of 2.12. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $195.62. The firm's 50 day simple moving average is $179.16 and its two-hundred day simple moving average is $150.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.21 and a quick ratio of 3.60.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 27th. The computer hardware maker reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.04. The company had revenue of $46.74 billion for the quarter, compared to analysts' expectations of $45.65 billion. NVIDIA had a return on equity of 101.74% and a net margin of 52.41%.The firm's revenue was up 55.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 EPS. NVIDIA has set its Q3 2026 guidance at EPS. Research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend was Thursday, September 11th. NVIDIA's payout ratio is 1.14%.

NVIDIA 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.

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