Arkfeld Wealth Strategies L.L.C. Purchases Shares of 1,091 NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jun 30th, 2023

Arkfeld Wealth Strategies L.L.C. purchased a new stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,091 shares of the computer hardware maker’s stock, valued at approximately $296,000.

Several other institutional investors have also added to or reduced their stakes in the business. OneAscent Financial Services LLC boosted its position in NVIDIA by 2.1% during the first quarter. OneAscent Financial Services LLC now owns 3,077 shares of the computer hardware maker’s stock valued at $855,000 after buying an additional 63 shares during the period. Jacobs & Co. CA boosted its holdings in shares of NVIDIA by 0.8% during the first quarter. Jacobs & Co. CA now owns 42,413 shares of the computer hardware maker’s stock worth $11,781,000 after purchasing an additional 328 shares during the period. Heartland Bank & Trust Co boosted its holdings in shares of NVIDIA by 3.1% during the first quarter. Heartland Bank & Trust Co now owns 12,349 shares of the computer hardware maker’s stock worth $3,430,000 after purchasing an additional 374 shares during the period. Nova R Wealth Inc. boosted its holdings in shares of NVIDIA by 6.3% during the first quarter. Nova R Wealth Inc. now owns 2,481 shares of the computer hardware maker’s stock worth $689,000 after purchasing an additional 148 shares during the period. Finally, Sterling Investment Advisors LLC ADV purchased a new stake in shares of NVIDIA during the first quarter worth about $249,000. 64.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In related news, Director John Dabiri sold 283 shares of NVIDIA stock in a transaction dated Monday, June 26th. The shares were 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 directly owns 2,401 shares of the company’s stock, valued at approximately $1,019,296.53. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other NVIDIA news, Director Harvey C. Jones sold 119,795 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $403.17, for a total value of $48,297,750.15. Following the completion of the sale, the director now directly owns 676,396 shares of the company’s stock, valued at approximately $272,702,575.32. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John Dabiri sold 283 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 2,401 shares of the company’s stock, valued at approximately $1,019,296.53. The disclosure for this sale can be found here. Insiders have sold a total of 368,271 shares of company stock worth $147,115,953 in the last three months. Insiders own 3.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $320.00 target price on shares of NVIDIA in a report on Wednesday, March 22nd. Susquehanna increased their target price on shares of NVIDIA from $350.00 to $450.00 in a report on Thursday, May 25th. Tigress Financial increased their price target 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. Citigroup increased their price target on shares of NVIDIA from $363.00 to $420.00 in a research note on Thursday, May 25th. Finally, Piper Sandler increased their price target on shares of NVIDIA from $440.00 to $450.00 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $383.46.

NVIDIA Trading Down 0.7 %

Shares of NVIDIA stock opened at $408.22 on Friday. 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 1-year low of $108.13 and a 1-year high of $439.90. The company’s fifty day simple moving average is $348.86 and its 200-day simple moving average is $260.99. The stock has a market capitalization of $1.01 trillion, a PE ratio of 212.62, a P/E/G ratio of 2.83 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA – Free Report) last announced 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 company had revenue of $7.19 billion for the quarter, compared to the consensus estimate of $6.52 billion. NVIDIA had a net margin of 18.52% and a return on equity of 23.63%. NVIDIA’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.18 EPS. As a group, equities analysts anticipate that NVIDIA Co. will post 6.31 earnings per share for the current 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 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%.

About NVIDIA

(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.