Northwest Investment Counselors LLC Has $1.08 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jun 30th, 2023

Northwest Investment Counselors LLC lessened its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 1.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,899 shares of the computer hardware maker’s stock after selling 46 shares during the quarter. Northwest Investment Counselors LLC’s holdings in NVIDIA were worth $1,083,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. United Bank grew its stake in shares of NVIDIA by 28.9% in the first quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock worth $2,106,000 after purchasing an additional 1,730 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of NVIDIA by 6.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock worth $1,065,457,000 after acquiring an additional 249,045 shares during the last quarter. MAS Advisors LLC boosted its holdings in NVIDIA by 42.1% in the first quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock valued at $545,000 after acquiring an additional 583 shares during the last quarter. Navis Wealth Advisors LLC increased its position in NVIDIA by 205.3% during the 1st quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock valued at $791,000 after purchasing an additional 1,950 shares during the period. Finally, Ergoteles LLC bought a new position in NVIDIA during the 1st quarter worth approximately $929,000. 64.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NVDA. Craig Hallum upgraded shares of NVIDIA from a “hold” rating to a “buy” rating and set a $500.00 price objective for the company in a research report on Thursday, May 25th. Bank of America increased their price target on NVIDIA from $450.00 to $500.00 in a report on Wednesday, May 31st. Wedbush raised NVIDIA from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $290.00 to $490.00 in a research note on Thursday, May 25th. JPMorgan Chase & Co. raised their target price on NVIDIA from $250.00 to $500.00 in a research note on Thursday, May 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on NVIDIA from $220.00 to $390.00 in a research note on Thursday, May 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $383.46.

Insider Activity at NVIDIA

In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of the business’s stock in a transaction 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 in the company, valued at $42,657,300. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Debora Shoquist sold 23,084 shares of NVIDIA stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $305.00, for a total value of $7,040,620.00. Following the completion of the transaction, the executive vice president now owns 139,860 shares in the company, valued at $42,657,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tench Coxe sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $379.00, for a total transaction of $37,900,000.00. Following the sale, the director now owns 3,397,136 shares in the company, valued at $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 worth $147,115,953. Insiders own 3.99% of the company’s stock.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $408.22 on Friday. The firm has a market capitalization of $1.01 trillion, a P/E ratio of 212.62, a price-to-earnings-growth ratio of 2.83 and a beta of 1.75. The company has a current ratio of 3.43, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40. The business’s fifty day simple moving average is $348.86 and its 200 day simple moving average is $260.99. NVIDIA Co. has a 12 month low of $108.13 and a 12 month high of $439.90.

NVIDIA (NASDAQ:NVDA – Free Report) last issued its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share for the quarter, topping 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%. The firm’s quarterly revenue was down 13.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.18 EPS. As a group, analysts anticipate that NVIDIA Co. will post 6.31 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors 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 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.