RDA Financial Network Sells 267 Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jun 24th, 2023

RDA Financial Network reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,801 shares of the computer hardware maker’s stock after selling 267 shares during the quarter. NVIDIA accounts for 1.7% of RDA Financial Network’s holdings, making the stock its 8th biggest holding. RDA Financial Network’s holdings in NVIDIA were worth $3,834,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of NVDA. Vanguard Group Inc. boosted its stake in NVIDIA by 1.2% in the third quarter. Vanguard Group Inc. now owns 203,747,246 shares of the computer hardware maker’s stock valued at $24,732,878,000 after buying an additional 2,326,387 shares in the last quarter. State Street Corp boosted its stake in NVIDIA by 0.9% in the third quarter. State Street Corp now owns 98,751,264 shares of the computer hardware maker’s stock valued at $11,987,416,000 after buying an additional 908,481 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in NVIDIA by 9.7% in 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 buying an additional 5,043,685 shares in the last quarter. Geode Capital Management LLC boosted its stake in NVIDIA by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 45,788,952 shares of the computer hardware maker’s stock valued at $6,679,427,000 after buying an additional 692,636 shares in the last quarter. Finally, Morgan Stanley boosted its stake in NVIDIA by 20.2% in 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 buying an additional 4,621,002 shares in the last quarter. 64.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director John Dabiri sold 383 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $384.89, for a total value of $147,412.87. Following the completion of the sale, the director now owns 2,034 shares of the company’s stock, valued at $782,866.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director John Dabiri sold 383 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $384.89, for a total transaction of $147,412.87. Following the completion of the sale, the director now owns 2,034 shares in the company, valued at $782,866.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Stevens sold 40,000 shares of the company’s stock in a transaction on 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 sale, 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. Over the last quarter, insiders sold 372,988 shares of company stock valued at $148,368,561. Company insiders own 3.99% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on NVDA. UBS Group increased their target price on NVIDIA from $315.00 to $475.00 in a research report on Thursday, May 25th. Tigress Financial increased their target price on NVIDIA from $250.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, March 30th. Robert W. Baird upgraded NVIDIA from a “neutral” rating to an “outperform” rating and increased their target price for the company from $300.00 to $475.00 in a research report on Thursday, May 25th. The Goldman Sachs Group increased their target price on NVIDIA from $275.00 to $440.00 in a research report on Thursday, May 25th. Finally, Needham & Company LLC increased their target price on NVIDIA from $300.00 to $460.00 in a research report on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $383.19.

NVIDIA Trading Down 1.9 %

Shares of NVIDIA stock opened at $422.09 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.79 and a current ratio of 3.43. NVIDIA Co. has a 52 week low of $108.13 and a 52 week high of $439.90. The stock has a 50 day moving average price of $337.91 and a two-hundred day moving average price of $254.17. The stock has a market capitalization of $1.04 trillion, a PE ratio of 219.84, a price-to-earnings-growth ratio of 2.95 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA – Get Rating) last announced 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 return on equity of 23.63% and a net margin of 18.52%. The firm had revenue of $7.19 billion during the quarter, compared to analysts’ expectations of $6.52 billion. During the same quarter last year, the firm posted $1.18 earnings per share. The company’s revenue for the quarter was down 13.2% compared to the same quarter last year. As a group, equities analysts anticipate that NVIDIA Co. will post 6.29 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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