KCS Wealth Advisory Sells 396 Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 1st, 2023

KCS Wealth Advisory trimmed its position in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 12.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,767 shares of the computer hardware maker’s stock after selling 396 shares during the quarter. KCS Wealth Advisory’s holdings in NVIDIA were worth $769,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. United Bank increased its holdings in shares of NVIDIA by 28.9% during 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 period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of NVIDIA by 6.8% during the 1st 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 in the last quarter. MAS Advisors LLC boosted its position in shares of NVIDIA by 42.1% during the 1st quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock worth $545,000 after acquiring an additional 583 shares in the last quarter. Navis Wealth Advisors LLC boosted its position in shares of NVIDIA by 205.3% during the 1st quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock worth $791,000 after acquiring an additional 1,950 shares in the last quarter. Finally, Ergoteles LLC acquired a new stake in shares of NVIDIA during the 1st quarter worth approximately $929,000. 64.00% of the stock is owned by institutional investors.

Insider Buying and Selling

In other NVIDIA news, Director John Dabiri sold 283 shares of the business’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $424.53, for a total value of $120,141.99. Following the transaction, the director now directly owns 2,401 shares in the company, valued at $1,019,296.53. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other NVIDIA news, CFO Colette Kress sold 6,124 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $406.51, for a total value of $2,489,467.24. Following the transaction, the chief financial officer now directly owns 538,745 shares in the company, valued at $219,005,229.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John Dabiri sold 283 shares of the business’s 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 owns 2,401 shares in the company, valued at $1,019,296.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 368,271 shares of company stock worth $147,115,953. 3.99% of the stock is owned by insiders.

NVIDIA Stock Up 3.6 %

NVIDIA stock opened at $423.02 on Friday. NVIDIA Co. has a fifty-two week low of $108.13 and a fifty-two week high of $439.90. The stock has a market cap of $1.04 trillion, a PE ratio of 220.32, a price-to-earnings-growth ratio of 2.83 and a beta of 1.75. The firm’s 50-day simple moving average is $351.89 and its 200 day simple moving average is $262.71. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.79 and a current ratio of 3.43.

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, topping the consensus estimate of $0.92 by $0.17. NVIDIA had a net margin of 18.52% and a return on equity of 23.63%. The business had revenue of $7.19 billion for the quarter, compared to analysts’ expectations of $6.52 billion. During the same period in the previous year, the company earned $1.18 earnings per share. The firm’s revenue for the quarter was down 13.2% compared to the same quarter last year. Research analysts predict that NVIDIA Co. will post 6.31 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 8th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend was Wednesday, June 7th. NVIDIA’s dividend payout ratio (DPR) is presently 8.33%.

Analysts Set New Price Targets

A number of brokerages have weighed in on NVDA. Wedbush upgraded shares of NVIDIA from a “neutral” rating to an “outperform” rating and raised their target price for the company from $290.00 to $490.00 in a research report on Thursday, May 25th. Piper Sandler raised their target price on shares of NVIDIA from $440.00 to $450.00 in a research report on Thursday. BNP Paribas upgraded shares of 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. TheStreet upgraded shares of NVIDIA from a “c+” rating to a “b-” rating in a report on Monday, March 20th. Finally, Stifel Nicolaus lifted their price target on shares of NVIDIA from $225.00 to $300.00 in a report on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $392.70.

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.