NVIDIA Co. (NASDAQ:NVDA) Stock Position Decreased by MCF Advisors LLC

Posted by Defense World Staff on Jul 2nd, 2023

MCF Advisors LLC lowered its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 2.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,657 shares of the computer hardware maker’s stock after selling 104 shares during the period. MCF Advisors LLC’s holdings in NVIDIA were worth $1,293,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Relyea Zuckerberg Hanson LLC lifted its holdings in shares of NVIDIA by 14.6% in the first quarter. Relyea Zuckerberg Hanson LLC now owns 3,868 shares of the computer hardware maker’s stock valued at $1,074,000 after purchasing an additional 492 shares in the last quarter. Vantage Investment Partners LLC lifted its holdings in shares of NVIDIA by 8.6% in the first quarter. Vantage Investment Partners LLC now owns 15,438 shares of the computer hardware maker’s stock valued at $4,288,000 after purchasing an additional 1,220 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of NVIDIA by 223.9% in the first quarter. Assenagon Asset Management S.A. now owns 1,889,302 shares of the computer hardware maker’s stock valued at $524,791,000 after purchasing an additional 1,305,983 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of NVIDIA by 6.7% in the first quarter. Allworth Financial LP now owns 24,942 shares of the computer hardware maker’s stock valued at $6,928,000 after purchasing an additional 1,556 shares in the last quarter. Finally, Fiduciary Alliance LLC lifted its holdings in shares of NVIDIA by 426.2% in the first quarter. Fiduciary Alliance LLC now owns 14,497 shares of the computer hardware maker’s stock valued at $4,027,000 after purchasing an additional 11,742 shares in the last quarter. Hedge funds and other institutional investors own 64.00% of the company’s stock.

NVIDIA Stock Up 3.6 %

Shares of NVDA opened at $423.02 on Friday. The stock has a market cap of $1.04 trillion, a price-to-earnings ratio of 220.32, a P/E/G ratio of 2.81 and a beta of 1.75. The company has a quick ratio of 2.79, a current ratio of 3.43 and a debt-to-equity ratio of 0.40. NVIDIA Co. has a 12 month low of $108.13 and a 12 month high of $439.90. The company has a 50-day moving average price of $351.89 and a two-hundred day moving average price of $263.28.

NVIDIA (NASDAQ:NVDA – Free Report) last announced its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17. The firm had revenue of $7.19 billion during the quarter, compared to analysts’ expectations of $6.52 billion. NVIDIA had a net margin of 18.52% and a return on equity of 23.63%. The company’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.18 earnings per share. Equities analysts predict that NVIDIA Co. will post 6.31 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 8th were paid 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 was Wednesday, June 7th. NVIDIA’s dividend payout ratio (DPR) is currently 8.33%.

Insider Activity

In other news, Director Mark A. Stevens sold 40,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $432.06, for a total value of $17,282,400.00. Following the completion of the transaction, the director now owns 1,052,286 shares in the company, valued at $454,650,689.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Mark A. Stevens sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $432.06, for a total value of $17,282,400.00. Following the completion of the transaction, the director now owns 1,052,286 shares in the company, valued at approximately $454,650,689.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tench Coxe sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $379.00, for a total transaction of $37,900,000.00. Following the completion of the transaction, the director now owns 3,397,136 shares of the company’s stock, valued at approximately $1,287,514,544. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 368,271 shares of company stock worth $147,115,953. Insiders own 3.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Westpark Capital assumed coverage on NVIDIA in a report on Wednesday, March 22nd. They issued a “hold” rating for the company. Stifel Nicolaus increased their price objective on NVIDIA from $225.00 to $300.00 in a report on Tuesday, May 23rd. KeyCorp increased their price objective on NVIDIA from $320.00 to $375.00 in a report on Monday, May 22nd. Credit Suisse Group set a $275.00 price objective on NVIDIA in a report on Wednesday, March 22nd. Finally, The Goldman Sachs Group increased their price objective on NVIDIA from $275.00 to $440.00 in a report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $392.70.

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.