Washburn Capital Management Inc. Has $1.91 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jun 28th, 2023

Washburn Capital Management Inc. lessened its holdings in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,871 shares of the computer hardware maker’s stock after selling 144 shares during the quarter. NVIDIA accounts for approximately 1.6% of Washburn Capital Management Inc.’s investment portfolio, making the stock its 12th biggest position. Washburn Capital Management Inc.’s holdings in NVIDIA were worth $1,909,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of NVDA. GoalVest Advisory LLC boosted its holdings in shares of NVIDIA by 124.1% in the 4th 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 in the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of NVIDIA in the 1st quarter valued at $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in shares of NVIDIA in the 4th quarter valued at $34,000. Financial Connections Group Inc. boosted its holdings in shares of NVIDIA by 605.7% in the 4th quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock valued at $36,000 after purchasing an additional 212 shares in the last quarter. Finally, NewSquare Capital LLC acquired a new stake in shares of NVIDIA in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 64.00% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director John Dabiri sold 283 shares of NVIDIA stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $424.53, for a total transaction of $120,141.99. Following the completion of the transaction, the director now owns 2,401 shares in the company, valued at approximately $1,019,296.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other NVIDIA news, Director John Dabiri sold 283 shares of NVIDIA stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $424.53, for a total transaction of $120,141.99. Following the transaction, the director now owns 2,401 shares of the company’s stock, valued at approximately $1,019,296.53. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 40,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $432.06, for a total transaction of $17,282,400.00. Following the transaction, the director now directly owns 1,052,286 shares in the company, valued at approximately $454,650,689.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 373,271 shares of company stock worth $148,488,703. Insiders own 3.99% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA opened at $418.76 on Wednesday. The company has a market cap of $1.03 trillion, a PE ratio of 218.11, a P/E/G 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 Co. has a one year low of $108.13 and a one year high of $439.90. The stock has a 50-day moving average of $343.47 and a 200-day moving average of $258.89.

NVIDIA (NASDAQ:NVDA – Get Rating) last released its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.17. The business had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $6.52 billion. NVIDIA had a return on equity of 23.63% and a net margin of 18.52%. The company’s quarterly revenue was down 13.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.18 EPS. On average, equities research analysts predict that NVIDIA Co. will post 6.31 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 8th will be paid a dividend of $0.04 per share. 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 currently 8.33%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NVDA. Wells Fargo & Company increased their price target on NVIDIA from $320.00 to $450.00 in a research note on Thursday, May 25th. Piper Sandler increased their price target on NVIDIA from $300.00 to $440.00 in a research note on Thursday, May 25th. TheStreet upgraded NVIDIA from a “c+” rating to a “b-” rating in a research note on Monday, March 20th. Tigress Financial raised their target price on NVIDIA from $250.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, March 30th. Finally, TD Cowen raised their target price on NVIDIA from $260.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.