Clay Northam Wealth Management LLC Lowers Position in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 5th, 2023

Clay Northam Wealth Management LLC lessened its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 8.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,115 shares of the computer hardware maker’s stock after selling 275 shares during the period. NVIDIA accounts for approximately 0.9% of Clay Northam Wealth Management LLC’s portfolio, making the stock its 21st largest holding. Clay Northam Wealth Management LLC’s holdings in NVIDIA were worth $865,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Ritholtz Wealth Management increased its stake in NVIDIA by 7.4% in the first quarter. Ritholtz Wealth Management now owns 37,308 shares of the computer hardware maker’s stock valued at $10,363,000 after acquiring an additional 2,576 shares during the last quarter. J Arnold Wealth Management Co grew its stake in shares of NVIDIA by 2.5% during the first quarter. J Arnold Wealth Management Co now owns 62,095 shares of the computer hardware maker’s stock valued at $17,248,000 after buying an additional 1,510 shares during the last quarter. Field & Main Bank grew its stake in shares of NVIDIA by 14.3% during the first quarter. Field & Main Bank now owns 6,694 shares of the computer hardware maker’s stock valued at $1,859,000 after buying an additional 835 shares during the last quarter. Nadler Financial Group Inc. grew its stake in shares of NVIDIA by 2.4% during the first quarter. Nadler Financial Group Inc. now owns 6,877 shares of the computer hardware maker’s stock valued at $1,910,000 after buying an additional 160 shares during the last quarter. Finally, Capital City Trust Co. FL bought a new position in shares of NVIDIA during the first quarter valued at about $416,000. Institutional investors own 64.00% of the company’s stock.

NVIDIA Trading Up 0.3 %

NASDAQ:NVDA opened at $424.13 on Wednesday. The company has a current ratio of 3.43, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40. NVIDIA Co. has a 12 month low of $108.13 and a 12 month high of $439.90. The company has a market cap of $1.05 trillion, a PE ratio of 220.90, a price-to-earnings-growth ratio of 2.92 and a beta of 1.74. The company has a 50 day simple moving average of $358.20 and a two-hundred day simple moving average of $267.50.

NVIDIA (NASDAQ:NVDA – Free Report) last posted its earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 EPS 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 business had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $6.52 billion. During the same quarter in the previous year, the firm posted $1.18 EPS. The firm’s revenue was down 13.2% on a year-over-year basis. Research analysts forecast that NVIDIA Co. will post 6.31 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In other NVIDIA news, Director John Dabiri sold 283 shares of NVIDIA stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $424.53, for a total value of $120,141.99. Following the completion of the sale, the director now owns 2,401 shares of the company’s stock, valued at approximately $1,019,296.53. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Mark A. Stevens sold 40,000 shares of the business’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $432.06, for a total transaction of $17,282,400.00. Following the completion of the sale, the director now owns 1,052,286 shares of the company’s stock, valued at approximately $454,650,689.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction, the director now owns 2,401 shares in the company, valued at approximately $1,019,296.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 368,271 shares of company stock valued at $147,115,953. Company insiders own 3.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NVDA shares. KeyCorp raised their price objective on NVIDIA from $320.00 to $375.00 in a research note on Monday, May 22nd. Daiwa Capital Markets raised NVIDIA from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $408.00 to $475.00 in a research note on Thursday, June 29th. Needham & Company LLC raised their price objective on NVIDIA from $300.00 to $460.00 in a research note on Thursday, May 25th. Wedbush raised NVIDIA from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $290.00 to $490.00 in a research note on Thursday, May 25th. Finally, JPMorgan Chase & Co. raised their target price on NVIDIA from $250.00 to $500.00 in a research note on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $392.70.

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.