First Affirmative Financial Network Sells 357 Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by on Jun 22nd, 2023

First Affirmative Financial Network trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 11.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,698 shares of the computer hardware maker’s stock after selling 357 shares during the period. NVIDIA accounts for 0.9% of First Affirmative Financial Network’s portfolio, making the stock its 12th largest holding. First Affirmative Financial Network’s holdings in NVIDIA were worth $749,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of NVDA. Norges Bank bought a new stake in shares of NVIDIA during the 4th quarter valued at $3,900,874,000. Moneta Group Investment Advisors LLC grew its stake in NVIDIA by 160,446.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock valued at $2,862,392,000 after acquiring an additional 19,574,443 shares in the last quarter. Jennison Associates LLC grew its stake in NVIDIA by 34.8% during the fourth quarter. Jennison Associates LLC now owns 23,299,291 shares of the computer hardware maker’s stock valued at $3,404,958,000 after acquiring an additional 6,013,647 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in NVIDIA by 9.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock valued at $8,323,694,000 after acquiring an additional 5,043,685 shares in the last quarter. Finally, Morgan Stanley grew its stake in NVIDIA by 20.2% during the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after acquiring an additional 4,621,002 shares in the last quarter. 64.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on NVDA. BNP Paribas raised shares of NVIDIA from an “underperform” rating to a “neutral” rating and set a $230.00 target price for the company in a research note on Tuesday, March 21st. Wells Fargo & Company raised their target price on shares of NVIDIA from $320.00 to $450.00 in a research note on Thursday, May 25th. StockNews.com initiated coverage on shares of NVIDIA in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of NVIDIA from $220.00 to $390.00 in a research note on Thursday, May 25th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of NVIDIA from $250.00 to $500.00 in a research note on Thursday, May 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $383.19.

Insider Activity

In other news, Director Tench Coxe sold 100,000 shares of NVIDIA stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $379.00, for a total value of $37,900,000.00. Following the transaction, the director now owns 3,397,136 shares of the company’s stock, valued at approximately $1,287,514,544. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Tench Coxe sold 100,000 shares of NVIDIA stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $379.00, for a total value of $37,900,000.00. Following the transaction, the director now owns 3,397,136 shares of the company’s stock, valued at approximately $1,287,514,544. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dawn E. Hudson sold 5,000 shares of NVIDIA stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 85,350 shares in the company, valued at approximately $23,432,842.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 372,988 shares of company stock worth $148,368,561. 3.99% of the stock is currently owned by corporate insiders.

NVIDIA Trading Down 1.7 %

NASDAQ:NVDA opened at $430.45 on Thursday. NVIDIA Co. has a one year low of $108.13 and a one year high of $439.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.79 and a current ratio of 3.43. The firm has a market cap of $1.06 trillion, a P/E ratio of 224.19, a P/E/G ratio of 2.95 and a beta of 1.75. The firm has a 50-day simple moving average of $331.50 and a 200-day simple moving average of $251.15.

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

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 8th will be issued a $0.04 dividend. The ex-dividend date is Wednesday, June 7th. This represents a $0.16 annualized dividend and a dividend yield of 0.04%. 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.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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