Gilman Hill Asset Management LLC Trims Stake in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 5th, 2023

Gilman Hill Asset Management LLC reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 11.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,938 shares of the computer hardware maker’s stock after selling 395 shares during the period. Gilman Hill Asset Management LLC’s holdings in NVIDIA were worth $816,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Contravisory Investment Management Inc. purchased a new stake in NVIDIA during the first quarter valued at approximately $28,000. GoalVest Advisory LLC increased 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 purchasing an additional 108 shares in the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in shares of NVIDIA in the fourth quarter worth $34,000. Financial Connections Group Inc. increased 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 purchasing an additional 212 shares in the last quarter. Finally, Chelsea Counsel Co. purchased a new stake in shares of NVIDIA in the fourth quarter worth $37,000. 64.00% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Up 0.3 %

Shares of NVDA opened at $424.13 on Wednesday. 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 $358.20 and a 200 day moving average of $267.50. The firm has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 220.90, a PEG ratio of 2.92 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 announced its quarterly earnings data on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share 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 company had revenue of $7.19 billion during the quarter, compared to analyst estimates of $6.52 billion. During the same quarter last year, the business posted $1.18 EPS. The firm’s revenue for the quarter was down 13.2% on a year-over-year basis. On average, research analysts expect that NVIDIA Co. will post 6.31 EPS for the current year.

NVIDIA Announces Dividend

The business 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 of this dividend was Wednesday, June 7th. This represents a $0.16 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s payout ratio is 8.33%.

Insider Activity at NVIDIA

In other NVIDIA news, Director John Dabiri sold 283 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,019,296.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of the firm’s stock in a transaction dated Thursday, May 18th. The shares were 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 owns 139,860 shares of the company’s stock, valued at approximately $42,657,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Dabiri sold 283 shares of NVIDIA stock in a transaction that occurred on Monday, June 26th. The stock was 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 in the company, valued at approximately $1,019,296.53. The disclosure for this sale can be found here. Insiders sold 368,271 shares of company stock worth $147,115,953 in the last 90 days. 3.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NVDA has been the subject of a number of analyst reports. Mizuho increased their price objective on shares of NVIDIA from $290.00 to $400.00 in a research note on Thursday, May 25th. Piper Sandler increased their price objective on shares of NVIDIA from $440.00 to $450.00 in a research note on Thursday, June 29th. KeyCorp raised their target price on shares of NVIDIA from $320.00 to $375.00 in a research note on Monday, May 22nd. Sanford C. Bernstein raised their target price on shares of NVIDIA from $300.00 to $475.00 in a research note on Thursday, May 25th. Finally, TD Cowen raised their target price on shares of NVIDIA from $260.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, March 22nd. One 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 company’s stock. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target 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.