Confluence Investment Management LLC Buys New Shares in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Mar 18th, 2023

Confluence Investment Management LLC bought a new stake in shares of NVIDIA Co. (NASDAQ:NVDA – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,585 shares of the computer hardware maker’s stock, valued at approximately $232,000.

Other large investors also recently modified their holdings of the company. Riggs Asset Managment Co. Inc. lifted its stake in NVIDIA by 271.2% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 245 shares of the computer hardware maker’s stock worth $30,000 after purchasing an additional 179 shares in the last quarter. FSC Wealth Advisors LLC lifted its stake in NVIDIA by 313.6% in the 3rd quarter. FSC Wealth Advisors LLC now owns 273 shares of the computer hardware maker’s stock worth $33,000 after purchasing an additional 207 shares in the last quarter. Paragon Wealth Strategies LLC purchased a new stake in NVIDIA in the 3rd quarter worth $36,000. Lumature Wealth Partners LLC lifted its stake in NVIDIA by 396.8% in the 3rd quarter. Lumature Wealth Partners LLC now owns 313 shares of the computer hardware maker’s stock worth $38,000 after purchasing an additional 250 shares in the last quarter. Finally, Horizons Wealth Management purchased a new stake in NVIDIA in the 2nd quarter worth $41,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Insider Transactions at NVIDIA

In related news, CFO Colette Kress sold 10,741 shares of the stock in a transaction that occurred on Thursday, January 26th. The shares were sold at an average price of $200.00, for a total transaction of $2,148,200.00. Following the completion of the sale, the chief financial officer now owns 536,960 shares of the company’s stock, valued at $107,392,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director John Dabiri sold 293 shares of the stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $165.80, for a total transaction of $48,579.40. Following the completion of the sale, the director now owns 2,417 shares of the company’s stock, valued at $400,738.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Colette Kress sold 10,741 shares of the stock in a transaction that occurred on Thursday, January 26th. The shares were sold at an average price of $200.00, for a total transaction of $2,148,200.00. Following the sale, the chief financial officer now directly owns 536,960 shares of the company’s stock, valued at approximately $107,392,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 293,066 shares of company stock valued at $51,229,679. Company insiders own 4.04% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA opened at $257.25 on Friday. The company has a 50 day moving average price of $210.84 and a 200-day moving average price of $166.91. NVIDIA Co. has a fifty-two week low of $108.13 and a fifty-two week high of $289.46. The stock has a market capitalization of $635.41 billion, a PE ratio of 147.84, a PEG ratio of 4.27 and a beta of 1.76. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.73 and a current ratio of 3.52.

NVIDIA (NASDAQ:NVDA – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The computer hardware maker reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.07. NVIDIA had a net margin of 16.19% and a return on equity of 26.61%. The firm had revenue of $6.05 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the prior year, the company earned $1.14 EPS. The company’s revenue was down 20.8% compared to the same quarter last year. Equities analysts predict that NVIDIA Co. will post 3.21 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 29th. Stockholders of record on Wednesday, March 8th will be given a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, March 7th. This represents a $0.16 annualized dividend and a dividend yield of 0.06%. NVIDIA’s payout ratio is presently 9.20%.

Wall Street Analyst Weigh In

Several analysts have commented on NVDA shares. Craig Hallum boosted their price target on shares of NVIDIA from $165.00 to $190.00 and gave the stock a “hold” rating in a research note on Thursday, February 23rd. Morgan Stanley upgraded shares of NVIDIA from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $255.00 to $304.00 in a research note on Thursday. JPMorgan Chase & Co. upped their target price on shares of NVIDIA from $220.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, February 23rd. Mizuho upped their target price on shares of NVIDIA from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 23rd. Finally, Wells Fargo & Company upped their target price on shares of NVIDIA from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, February 23rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $245.32.

NVIDIA Company Profile

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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, including GeForce for gamers, Quadro for designers, Tesla and DGX for AI data scientists and big data researchers, and GRID for cloud-based visual computing users.