Massmutual Trust Co. FSB ADV Sells 541 Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jun 22nd, 2023

Massmutual Trust Co. FSB ADV cut its holdings in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 0.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 148,650 shares of the computer hardware maker’s stock after selling 541 shares during the period. NVIDIA accounts for approximately 1.6% of Massmutual Trust Co. FSB ADV’s portfolio, making the stock its 13th biggest holding. Massmutual Trust Co. FSB ADV’s holdings in NVIDIA were worth $41,291,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. GoalVest Advisory LLC increased its stake in NVIDIA by 124.1% during the fourth quarter. GoalVest Advisory LLC now owns 195 shares of the computer hardware maker’s stock valued at $28,000 after acquiring an additional 108 shares during the period. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in NVIDIA during the fourth quarter valued at about $34,000. Financial Connections Group Inc. increased its stake in NVIDIA by 605.7% during the fourth quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock valued at $36,000 after acquiring an additional 212 shares during the period. NewSquare Capital LLC bought a new stake in shares of NVIDIA in the 4th quarter valued at approximately $37,000. Finally, Chelsea Counsel Co. bought a new stake in shares of NVIDIA in the 4th quarter valued at approximately $37,000. 64.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NVDA has been the topic of several analyst reports. Cowen upped their price objective on NVIDIA from $240.00 to $260.00 in a research note on Thursday, February 23rd. Stifel Nicolaus upped their price objective on NVIDIA from $225.00 to $300.00 in a research note on Tuesday, May 23rd. Deutsche Bank Aktiengesellschaft upped their price objective on NVIDIA from $220.00 to $390.00 in a research note on Thursday, May 25th. HSBC upgraded 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 research note on Tuesday, April 18th. Finally, Credit Suisse Group set a $275.00 target price on NVIDIA in a report on Wednesday, March 22nd. One 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 assigned a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $383.19.

NVIDIA Price Performance

NVDA opened at $430.45 on Thursday. The company has a quick ratio of 2.79, a current ratio of 3.43 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 company has a fifty day simple moving average of $331.50 and a 200 day simple moving average of $251.15. The stock 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.

NVIDIA (NASDAQ:NVDA – Get Rating) last released its quarterly earnings data on Wednesday, May 24th. The computer hardware maker reported $1.09 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $6.52 billion. During the same quarter in the prior year, the company earned $1.18 EPS. The firm’s quarterly revenue was down 13.2% on a year-over-year basis. On average, research analysts expect that NVIDIA Co. will post 6.29 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 8th will be given 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 is Wednesday, June 7th. NVIDIA’s dividend payout ratio is currently 8.33%.

Insider Activity at NVIDIA

In other NVIDIA news, Director Harvey C. Jones sold 119,795 shares of the stock in a transaction dated 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 transaction, the director now owns 676,396 shares in the company, valued at approximately $272,702,575.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other NVIDIA news, Director Harvey C. Jones sold 119,795 shares of the stock in a transaction dated 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 transaction, the director now owns 676,396 shares in the company, valued at approximately $272,702,575.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 40,000 shares of the stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $432.06, for a total value of $17,282,400.00. Following the transaction, the director now owns 1,052,286 shares of the company’s stock, valued at approximately $454,650,689.16. The disclosure for this sale can be found here. Insiders sold a total of 372,988 shares of company stock worth $148,368,561 in the last quarter. Corporate insiders own 3.99% of the company’s stock.

NVIDIA Profile

(Get Rating)

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.