Azimuth Capital Investment Management LLC Sells 3,647 Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jun 14th, 2023

Azimuth Capital Investment Management LLC lessened its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,913 shares of the computer hardware maker’s stock after selling 3,647 shares during the period. Azimuth Capital Investment Management LLC’s holdings in NVIDIA were worth $11,094,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in NVDA. Lindbrook Capital LLC lifted its holdings in shares of NVIDIA by 66.8% in the 4th quarter. Lindbrook Capital LLC now owns 18,702 shares of the computer hardware maker’s stock valued at $2,733,000 after acquiring an additional 7,492 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of NVIDIA by 65.8% in the 3rd quarter. EP Wealth Advisors LLC now owns 45,478 shares of the computer hardware maker’s stock valued at $5,521,000 after acquiring an additional 18,044 shares during the last quarter. MBL Wealth LLC lifted its holdings in shares of NVIDIA by 4.7% in the 4th quarter. MBL Wealth LLC now owns 6,428 shares of the computer hardware maker’s stock valued at $939,000 after acquiring an additional 290 shares during the last quarter. Family Firm Inc. lifted its holdings in shares of NVIDIA by 42.9% in the 4th quarter. Family Firm Inc. now owns 7,625 shares of the computer hardware maker’s stock valued at $1,114,000 after acquiring an additional 2,289 shares during the last quarter. Finally, Congress Asset Management Co. MA lifted its holdings in shares of NVIDIA by 1.3% in the 4th quarter. Congress Asset Management Co. MA now owns 416,579 shares of the computer hardware maker’s stock valued at $60,879,000 after acquiring an additional 5,222 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NVDA. StockNews.com began coverage on shares of NVIDIA in a report on Thursday, May 18th. They issued a “hold” rating for the company. Oppenheimer raised their price objective on shares of NVIDIA from $350.00 to $420.00 in a research note on Thursday, May 25th. Cowen raised their price objective on shares of NVIDIA from $240.00 to $260.00 in a research note on Thursday, February 23rd. Morgan Stanley raised their price objective on shares of NVIDIA from $304.00 to $450.00 in a research note on Thursday, May 25th. Finally, UBS Group raised their price objective on shares of NVIDIA from $315.00 to $475.00 in a research note on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $381.08.

Insider Transactions at NVIDIA

In other news, Director Tench Coxe sold 100,000 shares of NVIDIA stock in a transaction on Friday, May 26th. The shares were sold at an average price of $379.00, for a total transaction of $37,900,000.00. Following the completion of the sale, the director now directly owns 3,397,136 shares in the company, valued at $1,287,514,544. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Dawn E. Hudson sold 5,000 shares of the business’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $274.55, for a total transaction of $1,372,750.00. Following the completion of the transaction, the director now directly owns 85,350 shares in the company, valued at $23,432,842.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 100,000 shares of the business’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $379.00, for a total transaction of $37,900,000.00. Following the transaction, the director now owns 3,397,136 shares of the company’s stock, valued at $1,287,514,544. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,591 shares of company stock worth $48,950,250. Company insiders own 3.99% of the company’s stock.

NVIDIA Price Performance

NASDAQ NVDA opened at $410.22 on Wednesday. The firm’s fifty day simple moving average is $312.37 and its two-hundred day simple moving average is $240.56. The company has a current ratio of 3.43, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40. NVIDIA Co. has a 12-month low of $108.13 and a 12-month high of $419.38. The firm has a market capitalization of $1.01 trillion, a P/E ratio of 213.66, a P/E/G ratio of 2.68 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA – Get Rating) last released its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.17. NVIDIA had a net margin of 18.52% and a return on equity of 23.63%. The business had revenue of $7.19 billion for the quarter, compared to analyst estimates of $6.52 billion. During the same period in the previous year, the company earned $1.18 earnings per share. The business’s revenue for the quarter was down 13.2% on a year-over-year basis. Analysts forecast that NVIDIA Co. will post 6.29 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

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.

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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