1,256 Shares in NVIDIA Co. (NASDAQ:NVDA) Purchased by Riversedge Advisors LLC

Posted by Defense World Staff on Jul 2nd, 2023

Riversedge Advisors LLC bought a new stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 1,256 shares of the computer hardware maker’s stock, valued at approximately $349,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GoalVest Advisory LLC lifted its holdings in NVIDIA by 124.1% during the 4th quarter. GoalVest Advisory LLC now owns 195 shares of the computer hardware maker’s stock worth $28,000 after buying an additional 108 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of NVIDIA during the first quarter worth $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in shares of NVIDIA in the fourth quarter valued at $34,000. Financial Connections Group Inc. boosted its holdings in NVIDIA by 605.7% in the fourth quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock valued at $36,000 after purchasing an additional 212 shares during the period. Finally, NewSquare Capital LLC acquired a new position in NVIDIA during the 4th quarter worth $37,000. 64.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In other NVIDIA news, Director John Dabiri sold 283 shares of the firm’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 directly owns 2,401 shares in the company, valued at approximately $1,019,296.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NVIDIA news, Director John Dabiri sold 283 shares of the stock in a transaction 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 sale, the director now owns 2,401 shares in the company, valued at approximately $1,019,296.53. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Colette Kress sold 6,124 shares of the company’s stock in a transaction on 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 completion of the sale, the chief financial officer now owns 538,745 shares in the company, valued at $219,005,229.95. The disclosure for this sale can be found here. Insiders sold 368,271 shares of company stock valued at $147,115,953 in the last 90 days. 3.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NVDA shares. Daiwa Capital Markets raised NVIDIA from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $408.00 to $475.00 in a research report on Thursday. Bank of America boosted their price target on shares of NVIDIA from $450.00 to $500.00 in a report on Wednesday, May 31st. BMO Capital Markets raised their price objective on shares of NVIDIA from $350.00 to $450.00 in a report on Thursday, May 25th. Citigroup boosted their target price on shares of NVIDIA from $363.00 to $420.00 in a research note on Thursday, May 25th. Finally, StockNews.com began coverage on NVIDIA in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $392.70.

NVIDIA Stock Performance

Shares of NVDA opened at $423.02 on Friday. 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 52-week low of $108.13 and a 52-week high of $439.90. The company has a 50-day simple moving average of $351.89 and a 200-day simple moving average of $263.28. The company has a market capitalization of $1.04 trillion, a PE ratio of 220.32, a P/E/G ratio of 2.81 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA – Free Report) last issued its 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 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 firm’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same period last year, the company posted $1.18 earnings per share. Equities research analysts predict that NVIDIA Co. will post 6.31 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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