Armstrong Advisory Group Inc. Sells 128 Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jun 21st, 2023

Armstrong Advisory Group Inc. reduced its stake in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 9.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,175 shares of the computer hardware maker’s stock after selling 128 shares during the quarter. Armstrong Advisory Group Inc.’s holdings in NVIDIA were worth $326,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of NVIDIA by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 203,747,246 shares of the computer hardware maker’s stock worth $24,732,878,000 after purchasing an additional 2,326,387 shares in the last quarter. State Street Corp grew its position in shares of NVIDIA by 0.9% during the 3rd quarter. State Street Corp now owns 98,751,264 shares of the computer hardware maker’s stock worth $11,987,416,000 after purchasing an additional 908,481 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of NVIDIA by 9.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock worth $8,323,694,000 after purchasing an additional 5,043,685 shares in the last quarter. Geode Capital Management LLC grew its position in shares of NVIDIA by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 45,788,952 shares of the computer hardware maker’s stock worth $6,679,427,000 after purchasing an additional 692,636 shares in the last quarter. Finally, Morgan Stanley grew its position in shares of NVIDIA by 20.2% during the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after purchasing an additional 4,621,002 shares in the last quarter. 64.00% of the stock is owned by institutional investors.

Insider Transactions at NVIDIA

In other news, Director Harvey C. Jones sold 119,795 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Harvey C. Jones sold 119,795 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Dawn E. Hudson sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $274.55, for a total transaction of $1,372,750.00. Following the sale, the director now directly owns 85,350 shares of the company’s stock, valued at $23,432,842.50. 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 three months. Corporate insiders own 3.99% of the company’s stock.

NVIDIA Trading Up 2.6 %

NVDA opened at $438.08 on Wednesday. NVIDIA Co. has a 1-year low of $108.13 and a 1-year high of $439.90. 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 company has a market cap of $1.08 trillion, a P/E ratio of 228.17, a price-to-earnings-growth ratio of 2.95 and a beta of 1.75. The company has a fifty day moving average price of $328.19 and a two-hundred day moving average price of $249.89.

NVIDIA (NASDAQ:NVDA – Get Rating) last posted its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share for the quarter, beating 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 firm had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $6.52 billion. During the same period in the previous year, the firm posted $1.18 earnings per share. The business’s revenue was down 13.2% compared to the same quarter last year. Analysts predict that NVIDIA Co. will post 6.29 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have issued reports on NVDA shares. 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 research report on Tuesday, March 21st. TheStreet upgraded shares of NVIDIA from a “c+” rating to a “b-” rating in a research report on Monday, March 20th. StockNews.com began coverage on shares of NVIDIA in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Stifel Nicolaus increased their price target on shares of NVIDIA from $225.00 to $300.00 in a research report on Tuesday, May 23rd. Finally, Tigress Financial increased their price target on shares of NVIDIA from $250.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, March 30th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $383.19.

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.