McNaughton Wealth Management LLC Sells 92 Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jun 25th, 2023

McNaughton Wealth Management LLC lessened its position in shares of NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 2.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,457 shares of the computer hardware maker’s stock after selling 92 shares during the period. McNaughton Wealth Management LLC’s holdings in NVIDIA were worth $960,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NVDA. Country Club Bank GFN increased its stake in NVIDIA by 0.5% in the first quarter. Country Club Bank GFN now owns 16,977 shares of the computer hardware maker’s stock valued at $4,649,000 after purchasing an additional 83 shares in the last quarter. Contravisory Investment Management Inc. bought a new stake in NVIDIA in the first quarter valued at $28,000. Worth Asset Management LLC increased its stake in NVIDIA by 23.5% in the first quarter. Worth Asset Management LLC now owns 882 shares of the computer hardware maker’s stock valued at $245,000 after purchasing an additional 168 shares in the last quarter. Flagship Harbor Advisors LLC increased its stake in NVIDIA by 1.7% in the first quarter. Flagship Harbor Advisors LLC now owns 40,266 shares of the computer hardware maker’s stock valued at $11,185,000 after purchasing an additional 673 shares in the last quarter. Finally, Armstrong Henry H Associates Inc. increased its stake in NVIDIA by 6.3% in the first quarter. Armstrong Henry H Associates Inc. now owns 1,625 shares of the computer hardware maker’s stock valued at $451,000 after purchasing an additional 97 shares in the last quarter. Institutional investors own 64.00% of the company’s stock.

Analyst Ratings Changes

NVDA has been the subject of several research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $320.00 price target on shares of NVIDIA in a research note on Wednesday, March 22nd. JPMorgan Chase & Co. upped their target price on shares of NVIDIA from $250.00 to $500.00 in a report on Thursday, May 25th. Evercore ISI upped their target price on shares of NVIDIA from $320.00 to $500.00 in a report on Thursday, May 25th. Stifel Nicolaus upped their target price on shares of NVIDIA from $225.00 to $300.00 in a report on Tuesday, May 23rd. Finally, Truist Financial upped their target price on shares of NVIDIA from $322.00 to $470.00 in a 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $383.19.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 40,000 shares of the stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $432.06, for a total value of $17,282,400.00. Following the sale, the director now directly owns 1,052,286 shares in the company, valued at approximately $454,650,689.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mark A. Stevens sold 40,000 shares of the firm’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $432.06, for a total transaction of $17,282,400.00. Following the sale, the director now owns 1,052,286 shares in the company, valued at approximately $454,650,689.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dawn E. Hudson sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $274.55, for a total transaction of $1,372,750.00. Following the sale, the director now owns 85,350 shares in the company, valued at approximately $23,432,842.50. The disclosure for this sale can be found here. Insiders have sold 372,988 shares of company stock worth $148,368,561 in the last three months. 3.99% of the stock is currently owned by corporate insiders.

NVIDIA Stock Performance

NASDAQ NVDA opened at $422.09 on Friday. NVIDIA Co. has a 1 year low of $108.13 and a 1 year high of $439.90. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.43 and a quick ratio of 2.79. The stock has a market capitalization of $1.04 trillion, a PE ratio of 219.84, a P/E/G ratio of 2.95 and a beta of 1.75. The company’s 50 day simple moving average is $337.91 and its two-hundred day simple moving average is $254.83.

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

NVIDIA Dividend Announcement

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 paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.04%. The ex-dividend date is Wednesday, June 7th. NVIDIA’s dividend payout ratio is presently 8.33%.

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.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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