Birch Hill Investment Advisors LLC Decreases Holdings in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jun 28th, 2023

Birch Hill Investment Advisors LLC trimmed its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 7.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,488 shares of the computer hardware maker’s stock after selling 352 shares during the period. Birch Hill Investment Advisors LLC’s holdings in NVIDIA were worth $1,247,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Personal Capital Advisors Corp lifted its stake in shares of NVIDIA by 29.9% in the fourth quarter. Personal Capital Advisors Corp now owns 622,700 shares of the computer hardware maker’s stock worth $91,001,000 after buying an additional 143,483 shares in the last quarter. Avala Global LP purchased a new position in shares of NVIDIA in the fourth quarter worth about $16,455,000. DGS Capital Management LLC lifted its stake in shares of NVIDIA by 9.0% in the fourth quarter. DGS Capital Management LLC now owns 3,036 shares of the computer hardware maker’s stock worth $444,000 after buying an additional 250 shares in the last quarter. Dash Acquisitions Inc. purchased a new position in shares of NVIDIA in the first quarter worth about $284,000. Finally, Thrive Wealth Management LLC lifted its stake in shares of NVIDIA by 3.8% in the first quarter. Thrive Wealth Management LLC now owns 3,100 shares of the computer hardware maker’s stock worth $861,000 after buying an additional 114 shares in the last quarter. 64.00% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Up 3.1 %

NVDA stock opened at $418.76 on Wednesday. The company has a fifty day moving average price of $343.47 and a 200 day moving average price of $258.89. NVIDIA Co. has a 12 month low of $108.13 and a 12 month high of $439.90. The company has a market cap of $1.03 trillion, a price-to-earnings ratio of 218.11, a price-to-earnings-growth ratio of 2.80 and a beta of 1.75. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.43 and a quick ratio of 2.79.

NVIDIA (NASDAQ:NVDA – Get Rating) last released 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 firm had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $6.52 billion. During the same quarter in the prior year, the firm earned $1.18 EPS. NVIDIA’s revenue for the quarter was down 13.2% on a year-over-year basis. Sell-side analysts expect that NVIDIA Co. will post 6.31 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared 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. The ex-dividend date is Wednesday, June 7th. This represents a $0.16 annualized dividend and a yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is 8.33%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 6,124 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $406.51, for a total value of $2,489,467.24. Following the transaction, the chief financial officer now directly owns 538,745 shares of the company’s stock, valued at approximately $219,005,229.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other NVIDIA news, CFO Colette Kress sold 6,124 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $406.51, for a total value of $2,489,467.24. Following the transaction, the chief financial officer now directly owns 538,745 shares of the company’s stock, valued at approximately $219,005,229.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dawn E. Hudson sold 5,000 shares of the business’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 completion of the transaction, the director now directly owns 85,350 shares in the company, valued at $23,432,842.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 373,271 shares of company stock valued at $148,488,703. 3.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $320.00 target price on shares of NVIDIA in a research note on Wednesday, March 22nd. HSBC raised shares of NVIDIA from a “reduce” rating to a “buy” rating and lifted their target price for the stock from $175.00 to $355.00 in a research note on Tuesday, April 18th. Tigress Financial lifted their target price on shares of NVIDIA from $250.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, March 30th. Truist Financial lifted their target price on shares of NVIDIA from $322.00 to $470.00 in a research note on Thursday, May 25th. Finally, Credit Suisse Group set a $275.00 target price on shares of NVIDIA in a research note on Wednesday, March 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $383.19.

NVIDIA Company 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.