Prostatis Group LLC Makes New Investment in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jun 18th, 2023

Prostatis Group LLC purchased a new stake in NVIDIA Co. (NASDAQ:NVDA – Get Rating) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,982 shares of the computer hardware maker’s stock, valued at approximately $290,000.

A number of other hedge funds also recently made changes to their positions in the stock. Personal Capital Advisors Corp lifted its holdings in shares of NVIDIA by 29.9% during the 4th quarter. Personal Capital Advisors Corp now owns 622,700 shares of the computer hardware maker’s stock valued at $91,001,000 after acquiring an additional 143,483 shares in the last quarter. Avala Global LP acquired a new position in shares of NVIDIA during the 4th quarter valued at $16,455,000. DGS Capital Management LLC lifted its holdings in shares of NVIDIA by 9.0% during the 4th quarter. DGS Capital Management LLC now owns 3,036 shares of the computer hardware maker’s stock valued at $444,000 after acquiring an additional 250 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of NVIDIA by 66.8% during 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 in the last quarter. Finally, Bamco Inc. NY lifted its holdings in shares of NVIDIA by 3.1% during the 4th quarter. Bamco Inc. NY now owns 578,093 shares of the computer hardware maker’s stock valued at $84,483,000 after acquiring an additional 17,524 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 6,124 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $406.51, for a total value of $2,489,467.24. Following the completion of the sale, the chief financial officer now directly owns 538,745 shares of the company’s stock, valued at approximately $219,005,229.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Colette Kress sold 6,124 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $406.51, for a total value of $2,489,467.24. Following the completion of the sale, the chief financial officer now directly owns 538,745 shares of the company’s stock, valued at approximately $219,005,229.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Harvey C. Jones sold 119,795 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $403.17, for a total transaction of $48,297,750.15. Following the completion of the sale, the director now directly owns 676,396 shares of the company’s stock, valued at $272,702,575.32. The disclosure for this sale can be found here. In the last three months, insiders sold 254,386 shares of company stock valued at $97,248,000. Company insiders own 3.99% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. BNP Paribas upgraded shares of NVIDIA from an “underperform” rating to a “neutral” rating and set a $230.00 target price on the stock in a report on Tuesday, March 21st. UBS Group boosted their price objective on shares of NVIDIA from $315.00 to $475.00 in a report on Thursday, May 25th. Mizuho boosted their price objective on shares of NVIDIA from $290.00 to $400.00 in a report on Thursday, May 25th. Truist Financial boosted their price objective on shares of NVIDIA from $322.00 to $470.00 in a report on Thursday, May 25th. Finally, The Goldman Sachs Group boosted their price objective on shares of NVIDIA from $275.00 to $440.00 in a report on Thursday, May 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $382.43.

NVIDIA Price Performance

NASDAQ NVDA opened at $426.92 on Friday. NVIDIA Co. has a 52 week low of $108.13 and a 52 week high of $437.21. The company has a current ratio of 3.43, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40. The stock has a market cap of $1.05 trillion, a price-to-earnings ratio of 222.36, a price-to-earnings-growth ratio of 2.95 and a beta of 1.75. The company has a 50-day moving average price of $321.84 and a two-hundred day moving average price of $245.65.

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

NVIDIA Announces Dividend

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

NVIDIA Profile

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NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.