Highland Financial Advisors LLC Reduces Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Posted by on Jun 29th, 2023

Highland Financial Advisors LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 46.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 932 shares of the computer hardware maker’s stock after selling 800 shares during the quarter. Highland Financial Advisors LLC’s holdings in NVIDIA were worth $259,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GoalVest Advisory LLC lifted its holdings in NVIDIA by 124.1% in the fourth quarter. GoalVest Advisory LLC now owns 195 shares of the computer hardware maker’s stock worth $28,000 after buying an additional 108 shares during the period. Contravisory Investment Management Inc. bought a new position in NVIDIA in the first quarter worth $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in shares of NVIDIA in the 4th quarter worth about $34,000. Financial Connections Group Inc. lifted its position in NVIDIA by 605.7% during the 4th quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock valued at $36,000 after acquiring an additional 212 shares during the period. Finally, NewSquare Capital LLC bought a new stake in NVIDIA during the fourth quarter worth about $37,000. 64.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Needham & Company LLC upped their price target on NVIDIA from $300.00 to $460.00 in a research note on Thursday, May 25th. Citigroup raised their price target on NVIDIA from $363.00 to $420.00 in a report on Thursday, May 25th. Deutsche Bank Aktiengesellschaft upped their price target on shares of NVIDIA from $220.00 to $390.00 in a research note on Thursday, May 25th. Evercore ISI raised their price objective on shares of NVIDIA from $320.00 to $500.00 in a research note on Thursday, May 25th. Finally, Craig Hallum upgraded shares of 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $383.19.

Insider Activity

In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the sale, the executive vice president now directly owns 139,860 shares of the company’s stock, valued at $42,657,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Colette Kress sold 6,124 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $406.51, for a total transaction of $2,489,467.24. Following the transaction, the chief financial officer now owns 538,745 shares of the company’s stock, valued at $219,005,229.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Debora Shoquist sold 23,084 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 139,860 shares of the company’s stock, valued at $42,657,300. The disclosure for this sale can be found here. In the last three months, insiders have sold 368,271 shares of company stock worth $147,115,953. 3.99% of the stock is currently owned by corporate insiders.

NVIDIA Trading Down 1.8 %

Shares of NVIDIA stock opened at $411.17 on Thursday. NVIDIA Co. has a twelve month low of $108.13 and a twelve month high of $439.90. The company has a quick ratio of 2.79, a current ratio of 3.43 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average price of $346.11 and a 200-day moving average price of $259.96. The firm has a market cap of $1.02 trillion, a price-to-earnings ratio of 214.15, a PEG ratio of 2.80 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA – Free Report) last released its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.17. NVIDIA had a return on equity of 23.63% and a net margin of 18.52%. The business had revenue of $7.19 billion during the quarter, compared to analysts’ expectations of $6.52 billion. During the same quarter last year, the business posted $1.18 EPS. The firm’s revenue for the quarter was down 13.2% compared to the same quarter last year. Equities research analysts anticipate that NVIDIA Co. will post 6.31 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

NVIDIA Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Co. (NASDAQ:NVDA – Free Report).

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.