Franklin Street Advisors Inc. NC Has $36.93 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jun 24th, 2023

Franklin Street Advisors Inc. NC raised its stake in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 0.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 132,939 shares of the computer hardware maker’s stock after purchasing an additional 771 shares during the quarter. NVIDIA accounts for 3.4% of Franklin Street Advisors Inc. NC’s portfolio, making the stock its 5th biggest position. Franklin Street Advisors Inc. NC’s holdings in NVIDIA were worth $36,926,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GoalVest Advisory LLC lifted its position in NVIDIA by 124.1% in the fourth quarter. GoalVest Advisory LLC now owns 195 shares of the computer hardware maker’s stock valued at $28,000 after purchasing an additional 108 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in shares of NVIDIA during the fourth quarter valued at approximately $34,000. Financial Connections Group Inc. increased its stake in shares of 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 buying an additional 212 shares during the period. NewSquare Capital LLC purchased a new position in shares of NVIDIA during the fourth quarter valued at approximately $37,000. Finally, Chelsea Counsel Co. purchased a new position in shares of NVIDIA during the fourth quarter valued at approximately $37,000. Institutional investors own 64.00% of the company’s stock.

NVIDIA Stock Down 1.9 %

NVDA stock opened at $422.09 on Friday. NVIDIA Co. has a fifty-two week low of $108.13 and a fifty-two week high of $439.90. The business’s 50-day moving average is $337.91 and its two-hundred day moving average is $254.17. 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 company has a market cap of $1.04 trillion, a price-to-earnings ratio of 219.84, a P/E/G ratio of 2.95 and a beta of 1.75.

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

NVIDIA Announces Dividend

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

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 40,000 shares of the firm’s 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 $454,650,689.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Mark A. Stevens sold 40,000 shares of the firm’s 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 $454,650,689.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Debora Shoquist sold 23,084 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $305.00, for a total value of $7,040,620.00. Following the completion of the transaction, the executive vice president now directly owns 139,860 shares in the company, valued at approximately $42,657,300. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 372,988 shares of company stock valued at $148,368,561. 3.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NVDA has been the topic of several research analyst reports. Craig Hallum raised NVIDIA from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a research note on Thursday, May 25th. Credit Suisse Group set a $275.00 target price on NVIDIA in a research note on Wednesday, March 22nd. Westpark Capital initiated coverage on NVIDIA in a research note on Wednesday, March 22nd. They set a “hold” rating on the stock. Tigress Financial upped their price target on NVIDIA from $250.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, March 30th. Finally, Truist Financial upped their price target on NVIDIA from $322.00 to $470.00 in a research note on Thursday, May 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average price target of $383.19.

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.