NVIDIA Co. (NASDAQ:NVDA) Shares Sold by First Heartland Consultants Inc.

Posted by Defense World Staff on Jun 29th, 2023

First Heartland Consultants Inc. reduced its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 1.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 10,040 shares of the computer hardware maker’s stock after selling 147 shares during the quarter. First Heartland Consultants Inc.’s holdings in NVIDIA were worth $2,789,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in NVIDIA by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 203,747,246 shares of the computer hardware maker’s stock worth $24,732,878,000 after buying an additional 2,326,387 shares during the period. State Street Corp grew its position in shares of NVIDIA by 0.9% in the 3rd 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 during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of NVIDIA by 9.7% in the 4th 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 during the last quarter. Geode Capital Management LLC grew its position in shares of NVIDIA by 1.5% in the 4th 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 during the last quarter. Finally, Morgan Stanley boosted its stake in NVIDIA by 20.2% during the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after purchasing an additional 4,621,002 shares during the period. 64.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. KeyCorp raised their target price on shares of NVIDIA from $320.00 to $375.00 in a research note on Monday, May 22nd. Credit Suisse Group set a $275.00 price target on shares of NVIDIA in a report on Wednesday, March 22nd. Oppenheimer lifted their price target on shares of NVIDIA from $350.00 to $420.00 in a research report on Thursday, May 25th. Rosenblatt Securities restated a “buy” rating and issued a $320.00 target price on shares of NVIDIA in a research note on Wednesday, March 22nd. Finally, BNP Paribas raised shares of NVIDIA from an “underperform” rating to a “neutral” rating and set a $230.00 price target on the stock in a report on Tuesday, March 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $383.19.

NVIDIA Stock Performance

Shares of NVDA opened at $411.17 on Thursday. NVIDIA Co. has a one year low of $108.13 and a one year high of $439.90. The company has a 50-day moving average of $346.11 and a two-hundred day moving average of $259.96. The stock 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. 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 – Free Report) last posted its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17. The business had revenue of $7.19 billion during the quarter, compared to analyst estimates of $6.52 billion. NVIDIA had a net margin of 18.52% and a return on equity of 23.63%. The firm’s revenue was down 13.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.18 earnings per share. On average, equities research analysts expect that NVIDIA Co. will post 6.31 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 6,124 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other NVIDIA news, CFO Colette Kress sold 6,124 shares of the 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 in the company, valued at $219,005,229.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Tench Coxe sold 100,000 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $379.00, for a total value of $37,900,000.00. Following the transaction, the director now owns 3,397,136 shares in the company, valued at approximately $1,287,514,544. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 368,271 shares of company stock valued at $147,115,953. 3.99% of the stock is currently owned by corporate insiders.

NVIDIA Company 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.