112,600 Shares in NVIDIA Co. (NASDAQ:NVDA) Bought by Avala Global LP

Posted by on Jun 14th, 2023

Avala Global LP acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA – Get Rating) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 112,600 shares of the computer hardware maker’s stock, valued at approximately $16,455,000. NVIDIA comprises approximately 6.0% of Avala Global LP’s holdings, making the stock its 7th biggest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Birch Capital Management LLC boosted its stake in shares of NVIDIA by 3.1% in the 4th quarter. Birch Capital Management LLC now owns 1,589 shares of the computer hardware maker’s stock worth $232,000 after buying an additional 48 shares during the last quarter. Wealthquest Corp boosted its stake in shares of NVIDIA by 1.1% in the 4th quarter. Wealthquest Corp now owns 4,410 shares of the computer hardware maker’s stock worth $645,000 after buying an additional 50 shares during the last quarter. Mine & Arao Wealth Creation & Management LLC. boosted its stake in shares of NVIDIA by 1.1% in the 4th quarter. Mine & Arao Wealth Creation & Management LLC. now owns 4,622 shares of the computer hardware maker’s stock worth $675,000 after buying an additional 51 shares during the last quarter. Financial Advisors Network Inc. boosted its stake in shares of NVIDIA by 3.0% in the 4th quarter. Financial Advisors Network Inc. now owns 1,767 shares of the computer hardware maker’s stock worth $258,000 after buying an additional 52 shares during the last quarter. Finally, Advisors Management Group Inc. ADV boosted its stake in shares of NVIDIA by 0.4% in the 4th quarter. Advisors Management Group Inc. ADV now owns 13,251 shares of the computer hardware maker’s stock worth $1,937,000 after buying an additional 53 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NVIDIA

In related news, EVP Debora Shoquist sold 23,084 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the sale, the executive vice president now owns 139,860 shares of the company’s stock, valued at $42,657,300. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Debora Shoquist sold 23,084 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the completion of the transaction, the executive vice president now owns 139,860 shares of the company’s stock, valued at $42,657,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 6,124 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $406.51, for a total transaction of $2,489,467.24. Following the transaction, the chief financial officer now directly owns 538,745 shares of the company’s stock, valued at approximately $219,005,229.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,591 shares of company stock worth $48,950,250. 3.99% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. HSBC upgraded NVIDIA from a “reduce” rating to a “buy” rating and raised their price target for the stock from $175.00 to $355.00 in a research note on Tuesday, April 18th. Craig Hallum upgraded NVIDIA from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a research report on Thursday, May 25th. DZ Bank downgraded NVIDIA from a “buy” rating to a “sell” rating and set a $195.00 target price on the stock. in a research report on Thursday, February 16th. Susquehanna lifted their target price on NVIDIA from $350.00 to $450.00 in a research report on Thursday, May 25th. Finally, Tigress Financial lifted their target price on NVIDIA from $250.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, March 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $381.08.

NVIDIA Stock Performance

Shares of NVDA stock opened at $410.22 on Wednesday. The stock has a market capitalization of $1.01 trillion, a PE ratio of 213.66, a P/E/G ratio of 2.68 and a beta of 1.75. The firm has a 50 day moving average of $312.37 and a two-hundred day moving average of $240.56. NVIDIA Co. has a 52 week low of $108.13 and a 52 week high of $419.38. The company has a quick ratio of 2.79, a current ratio of 3.43 and a debt-to-equity ratio of 0.40.

NVIDIA (NASDAQ:NVDA – Get Rating) last announced its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.17. NVIDIA had a net margin of 18.52% and a return on equity of 23.63%. The firm had revenue of $7.19 billion during the quarter, compared to analysts’ expectations of $6.52 billion. During the same period in the previous year, the company earned $1.18 earnings per share. NVIDIA’s quarterly revenue was down 13.2% compared to the same quarter last year. On average, research analysts predict that NVIDIA Co. will post 6.29 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 8th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $0.16 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s dividend payout ratio is presently 8.33%.

NVIDIA 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.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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