CRA Financial Services LLC Raises Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jun 21st, 2023

CRA Financial Services LLC boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 17.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,804 shares of the computer hardware maker’s stock after purchasing an additional 1,300 shares during the period. CRA Financial Services LLC’s holdings in NVIDIA were worth $2,446,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NVDA. United Bank grew its position in NVIDIA by 28.9% during the 1st quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock worth $2,106,000 after purchasing an additional 1,730 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of NVIDIA by 6.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock valued at $1,065,457,000 after acquiring an additional 249,045 shares during the last quarter. MAS Advisors LLC boosted its holdings in shares of NVIDIA by 42.1% in the 1st quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock valued at $545,000 after acquiring an additional 583 shares during the last quarter. Navis Wealth Advisors LLC boosted its holdings in shares of NVIDIA by 205.3% in the 1st quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock valued at $791,000 after acquiring an additional 1,950 shares during the last quarter. Finally, Ergoteles LLC purchased a new stake in shares of NVIDIA in the 1st quarter valued at $929,000. Hedge funds and other institutional investors own 64.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on NVDA. HSBC raised shares of NVIDIA from a “reduce” rating to a “buy” rating and upped their price objective for the company from $175.00 to $355.00 in a report on Tuesday, April 18th. Mizuho upped their price objective on shares of NVIDIA from $290.00 to $400.00 in a report on Thursday, May 25th. Tigress Financial upped their price objective on shares of NVIDIA from $250.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, March 30th. Stifel Nicolaus boosted their target price on shares of NVIDIA from $225.00 to $300.00 in a research note on Tuesday, May 23rd. Finally, KeyCorp boosted their target price on shares of NVIDIA from $320.00 to $375.00 in a research note on Monday, May 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $383.19.

Insiders Place Their Bets

In other NVIDIA news, Director Dawn E. Hudson sold 5,000 shares of the stock in a transaction dated 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 owns 85,350 shares of the company’s stock, valued at $23,432,842.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Dawn E. Hudson sold 5,000 shares of the stock in a transaction dated 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 sale, the director now owns 85,350 shares of the company’s stock, valued at $23,432,842.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 6,124 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 538,745 shares in the company, valued at approximately $219,005,229.95. The disclosure for this sale can be found here. Insiders sold a total of 254,386 shares of company stock valued at $97,248,000 over the last 90 days. 3.99% of the stock is owned by company insiders.

NVIDIA Trading Up 2.6 %

Shares of NVDA opened at $438.08 on Wednesday. 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 $439.90. The firm has a 50-day moving average price of $328.19 and a 200 day moving average price of $249.89. The firm has a market capitalization of $1.08 trillion, a P/E ratio of 228.17, a P/E/G ratio of 2.95 and a beta of 1.75.

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

NVIDIA Dividend Announcement

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

About NVIDIA

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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.