Cornell Pochily Investment Advisors Inc. Has $2.64 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jun 30th, 2023

Cornell Pochily Investment Advisors Inc. cut its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 1.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,512 shares of the computer hardware maker’s stock after selling 132 shares during the period. NVIDIA accounts for 1.1% of Cornell Pochily Investment Advisors Inc.’s investment portfolio, making the stock its 19th largest holding. Cornell Pochily Investment Advisors Inc.’s holdings in NVIDIA were worth $2,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NVDA. Personal Capital Advisors Corp lifted its stake in NVIDIA by 29.9% in the fourth quarter. Personal Capital Advisors Corp now owns 622,700 shares of the computer hardware maker’s stock valued at $91,001,000 after buying an additional 143,483 shares during the period. Avala Global LP bought a new stake in shares of NVIDIA in the 4th quarter valued at $16,455,000. DGS Capital Management LLC lifted its position in shares of NVIDIA by 9.0% during the 4th quarter. DGS Capital Management LLC now owns 3,036 shares of the computer hardware maker’s stock valued at $444,000 after acquiring an additional 250 shares during the period. Valeo Financial Advisors LLC boosted its stake in NVIDIA by 22.7% during the first quarter. Valeo Financial Advisors LLC now owns 43,143 shares of the computer hardware maker’s stock worth $11,984,000 after acquiring an additional 7,988 shares in the last quarter. Finally, Dash Acquisitions Inc. acquired a new stake in NVIDIA in the first quarter worth $284,000. Institutional investors and hedge funds own 64.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on NVDA shares. Sanford C. Bernstein increased their price objective on shares of NVIDIA from $300.00 to $475.00 in a research report on Thursday, May 25th. Deutsche Bank Aktiengesellschaft raised their price objective on NVIDIA from $220.00 to $390.00 in a research note on Thursday, May 25th. BNP Paribas raised NVIDIA from an “underperform” rating to a “neutral” rating and set a $230.00 target price on the stock in a research report on Tuesday, March 21st. StockNews.com assumed coverage on shares of NVIDIA in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Barclays upped their price objective on shares of NVIDIA from $275.00 to $500.00 in a report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $383.46.

NVIDIA Stock Performance

Shares of NVDA opened at $408.22 on Friday. NVIDIA Co. has a 1 year low of $108.13 and a 1 year high of $439.90. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.43 and a quick ratio of 2.79. The stock’s fifty day moving average price is $348.86 and its two-hundred day moving average price is $260.99. The firm has a market cap of $1.01 trillion, a PE ratio of 212.62, a PEG ratio of 2.83 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA – Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $6.52 billion. NVIDIA had a return on equity of 23.63% and a net margin of 18.52%. The firm’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.18 EPS. On average, equities research analysts forecast that NVIDIA Co. will post 6.31 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 8th will be issued 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 payout ratio is 8.33%.

Insiders Place Their Bets

In other news, Director John Dabiri sold 283 shares of NVIDIA stock in a transaction on Monday, June 26th. The stock was sold at an average price of $424.53, for a total value of $120,141.99. Following the completion of the transaction, the director now directly owns 2,401 shares in the company, valued at $1,019,296.53. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Colette Kress sold 6,124 shares of the business’s stock in a transaction dated 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 completion of 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the director now owns 2,401 shares of the company’s stock, valued at $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 over the last 90 days. Corporate insiders own 3.99% of the company’s stock.

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.