TKG Advisors LLC Has $3.32 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 4th, 2023

TKG Advisors LLC lifted its position in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 124.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,961 shares of the computer hardware maker’s stock after buying an additional 6,639 shares during the quarter. NVIDIA comprises approximately 2.1% of TKG Advisors LLC’s holdings, making the stock its 11th largest position. TKG Advisors LLC’s holdings in NVIDIA were worth $3,322,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of NVDA. Norges Bank acquired a new position in NVIDIA during the 4th quarter valued at $3,900,874,000. Moneta Group Investment Advisors LLC raised its stake in shares of NVIDIA by 160,446.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock valued at $2,862,392,000 after buying an additional 19,574,443 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of NVIDIA by 178,831.3% in the 1st quarter. Proficio Capital Partners LLC now owns 12,179,851 shares of the computer hardware maker’s stock valued at $12,235,000 after buying an additional 12,173,044 shares in the last quarter. Jennison Associates LLC raised its stake in shares of NVIDIA by 34.8% in the 4th quarter. Jennison Associates LLC now owns 23,299,291 shares of the computer hardware maker’s stock valued at $3,404,958,000 after buying an additional 6,013,647 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of NVIDIA by 9.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock valued at $8,323,694,000 after buying an additional 5,043,685 shares in the last quarter. 64.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 40,000 shares of the firm’s stock in a transaction 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 directly owns 1,052,286 shares of the company’s stock, valued at $454,650,689.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other NVIDIA news, Director John Dabiri sold 283 shares of NVIDIA stock in a transaction on 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 of the company’s stock, valued at $1,019,296.53. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 40,000 shares of NVIDIA stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $432.06, for a total value of $17,282,400.00. Following the sale, the director now directly owns 1,052,286 shares of the company’s stock, valued at approximately $454,650,689.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 368,271 shares of company stock valued at $147,115,953. 3.99% of the stock is owned by corporate insiders.

NVIDIA Price Performance

Shares of NVDA opened at $424.13 on Tuesday. The stock has a market capitalization of $1.05 trillion, a P/E ratio of 220.90, a P/E/G ratio of 2.91 and a beta of 1.74. NVIDIA Co. has a twelve month low of $108.13 and a twelve month 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 company has a quick ratio of 2.79, a current ratio of 3.43 and a debt-to-equity ratio of 0.40.

NVIDIA (NASDAQ:NVDA – Free Report) last issued its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $6.52 billion. During the same period last year, the business earned $1.18 EPS. The business’s quarterly revenue was down 13.2% on a year-over-year basis. As a group, equities research analysts forecast that NVIDIA Co. will post 6.31 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Analyst Upgrades and Downgrades

NVDA has been the topic of several analyst reports. TheStreet raised shares of NVIDIA from a “c+” rating to a “b-” rating in a report on Monday, March 20th. Oppenheimer increased their price objective on shares of NVIDIA from $350.00 to $420.00 in a report on Thursday, May 25th. Susquehanna increased their price objective on shares of NVIDIA from $350.00 to $450.00 in a report on Thursday, May 25th. Wedbush raised shares of NVIDIA from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $290.00 to $490.00 in a report on Thursday, May 25th. Finally, Robert W. Baird raised shares of NVIDIA from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $300.00 to $475.00 in a report on Thursday, May 25th. One equities 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.