Scott & Selber Inc. Purchases 56 Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 3rd, 2023

Scott & Selber Inc. boosted its position in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 0.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,971 shares of the computer hardware maker’s stock after buying an additional 56 shares during the quarter. NVIDIA accounts for approximately 2.7% of Scott & Selber Inc.’s holdings, making the stock its 6th biggest holding. Scott & Selber Inc.’s holdings in NVIDIA were worth $6,381,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Westhampton Capital LLC raised its stake in shares of NVIDIA by 0.7% in the 1st quarter. Westhampton Capital LLC now owns 5,545 shares of the computer hardware maker’s stock valued at $1,540,000 after purchasing an additional 40 shares in the last quarter. Naples Global Advisors LLC raised its stake in shares of NVIDIA by 1.0% in the 1st quarter. Naples Global Advisors LLC now owns 4,309 shares of the computer hardware maker’s stock valued at $1,197,000 after purchasing an additional 42 shares in the last quarter. Tradewinds Capital Management LLC raised its stake in shares of NVIDIA by 15.8% in the 1st quarter. Tradewinds Capital Management LLC now owns 329 shares of the computer hardware maker’s stock valued at $91,000 after purchasing an additional 45 shares in the last quarter. Birch Capital Management LLC raised its stake in shares of NVIDIA by 3.1% in the 4th quarter. Birch Capital Management LLC now owns 1,589 shares of the computer hardware maker’s stock valued at $232,000 after purchasing an additional 48 shares in the last quarter. Finally, Global Trust Asset Management LLC raised its stake in NVIDIA by 3.2% during the first quarter. Global Trust Asset Management LLC now owns 1,537 shares of the computer hardware maker’s stock worth $427,000 after acquiring an additional 48 shares during the period. Institutional investors and hedge funds own 64.00% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of several research reports. Tigress Financial increased their price objective on shares of NVIDIA from $250.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, March 30th. Rosenblatt Securities reiterated a “buy” rating and set a $320.00 price objective on shares of NVIDIA in a research note on Wednesday, March 22nd. Sanford C. Bernstein upped their target price on shares of NVIDIA from $300.00 to $475.00 in a research report on Thursday, May 25th. Westpark Capital initiated coverage on shares of NVIDIA in a research report on Wednesday, March 22nd. They issued a “hold” rating for the company. Finally, Truist Financial upped their target price on shares of NVIDIA from $322.00 to $470.00 in a research report on Thursday, May 25th. One investment 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.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $392.70.

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $379.00, for a total value of $37,900,000.00. Following the sale, the director now directly owns 3,397,136 shares in the company, valued at approximately $1,287,514,544. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 3,397,136 shares of the company’s stock, valued at approximately $1,287,514,544. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Debora Shoquist sold 23,084 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the transaction, the executive vice president now directly owns 139,860 shares of the company’s stock, valued at $42,657,300. The disclosure for this sale can be found here. Insiders have sold 368,271 shares of company stock worth $147,115,953 in the last ninety days. Insiders own 3.99% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $423.02 on Monday. NVIDIA Co. has a 1 year low of $108.13 and a 1 year high of $439.90. The firm’s fifty day simple moving average is $351.89 and its 200 day simple moving average is $263.89. 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 firm has a market capitalization of $1.04 trillion, a PE ratio of 220.32, a PEG ratio of 2.91 and a beta of 1.74.

NVIDIA (NASDAQ:NVDA – Free Report) last posted 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. 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 analyst estimates of $6.52 billion. During the same period last year, the business posted $1.18 EPS. NVIDIA’s revenue was down 13.2% compared to the same quarter last year. On average, sell-side 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 was paid on Friday, June 30th. Shareholders of record on Thursday, June 8th were given a $0.04 dividend. The ex-dividend date was Wednesday, June 7th. This represents a $0.16 annualized dividend and a yield of 0.04%. NVIDIA’s dividend payout ratio is 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.