1,155 Shares in NVIDIA Co. (NASDAQ:NVDA) Purchased by Altus Wealth Management LLC

Posted by Defense World Staff on Jul 3rd, 2023

Altus Wealth Management LLC bought a new stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,155 shares of the computer hardware maker’s stock, valued at approximately $321,000. NVIDIA makes up 0.3% of Altus Wealth Management LLC’s portfolio, making the stock its 21st biggest position.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in NVIDIA by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 203,747,246 shares of the computer hardware maker’s stock worth $24,732,878,000 after purchasing an additional 2,326,387 shares during the last quarter. State Street Corp lifted its holdings in shares of NVIDIA by 0.9% during the third quarter. State Street Corp now owns 98,751,264 shares of the computer hardware maker’s stock worth $11,987,416,000 after buying an additional 908,481 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of NVIDIA by 9.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock worth $8,323,694,000 after buying an additional 5,043,685 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of NVIDIA by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 45,788,952 shares of the computer hardware maker’s stock worth $6,679,427,000 after buying an additional 692,636 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of NVIDIA by 20.2% during the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after buying an additional 4,621,002 shares during the last quarter. Hedge funds and other institutional investors own 64.00% of the company’s stock.

NVIDIA Stock Up 3.6 %

NASDAQ:NVDA opened at $423.02 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.79 and a current ratio of 3.43. The company has a market cap of $1.04 trillion, a PE ratio of 220.32, a PEG ratio of 2.91 and a beta of 1.74. NVIDIA Co. has a 52-week low of $108.13 and a 52-week high of $439.90. The stock has a 50-day simple moving average of $351.89 and a 200 day simple moving average of $263.89.

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

NVIDIA Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Wednesday, June 7th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA’s payout ratio is presently 8.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Sanford C. Bernstein upped their price target on NVIDIA from $300.00 to $475.00 in a report on Thursday, May 25th. Stifel Nicolaus upped their price target on NVIDIA from $225.00 to $300.00 in a report on Tuesday, May 23rd. Tigress Financial boosted their price objective on NVIDIA from $250.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, March 30th. Oppenheimer boosted their price objective on NVIDIA from $350.00 to $420.00 in a research report on Thursday, May 25th. Finally, Daiwa Capital Markets upgraded NVIDIA from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $408.00 to $475.00 in a research report on Thursday. 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 company’s stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $392.70.

Insider Buying and Selling

In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $305.00, for a total value of $7,040,620.00. Following the completion of the transaction, the executive vice president now directly owns 139,860 shares in the company, valued at $42,657,300. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $305.00, for a total value of $7,040,620.00. Following the completion of the transaction, the executive vice president now directly owns 139,860 shares in the company, valued at $42,657,300. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 3,397,136 shares of the company’s stock, valued at $1,287,514,544. The disclosure for this sale can be found here. Over the last three months, insiders sold 368,271 shares of company stock worth $147,115,953. 3.99% of the stock is owned by corporate insiders.

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.