Legacy Trust Sells 105 Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 4th, 2023

Legacy Trust reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 2.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,869 shares of the computer hardware maker’s stock after selling 105 shares during the quarter. Legacy Trust’s holdings in NVIDIA were worth $1,075,000 at the end of the most recent quarter.

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 100,000 shares of the 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 sale, the director now directly owns 3,397,136 shares of the company’s stock, valued at $1,287,514,544. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Debora Shoquist sold 23,084 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were 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 of the company’s stock, valued at approximately $42,657,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tench Coxe sold 100,000 shares of the stock in a transaction that occurred on 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 $1,287,514,544. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 368,271 shares of company stock valued at $147,115,953. 3.99% of the stock is currently owned by insiders.

NVIDIA Stock Up 0.3 %

NASDAQ:NVDA opened at $424.13 on Tuesday. NVIDIA Co. has a 1-year low of $108.13 and a 1-year high of $439.90. The company has a 50-day moving average of $354.97 and a 200 day moving average of $265.68. The firm has a market cap of $1.05 trillion, a PE ratio of 220.90, a price-to-earnings-growth ratio of 2.91 and a beta of 1.74. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.43 and a quick ratio of 2.79.

NVIDIA (NASDAQ:NVDA – Free Report) last released its quarterly earnings data on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share for the quarter, topping 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 company had revenue of $7.19 billion during the quarter, compared to analyst estimates of $6.52 billion. During the same period in the prior year, the firm earned $1.18 earnings per share. The firm’s revenue for the quarter was down 13.2% compared to the same quarter last year. As a group, research analysts anticipate that NVIDIA Co. will post 6.31 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Analyst Ratings Changes

Several brokerages recently issued reports on NVDA. Piper Sandler boosted their target price on shares of NVIDIA from $440.00 to $450.00 in a research report on Thursday, June 29th. Evercore ISI boosted their target price on shares of NVIDIA from $320.00 to $500.00 in a research report on Thursday, May 25th. BNP Paribas upgraded shares of NVIDIA from an “underperform” rating to a “neutral” rating and set a $230.00 target price for the company in a research report on Tuesday, March 21st. Westpark Capital began coverage on shares of NVIDIA in a research report on Wednesday, March 22nd. They set a “hold” rating for the company. Finally, Truist Financial boosted their target price on shares of NVIDIA from $322.00 to $470.00 in a research report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, 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.