G&S Capital LLC Takes Position in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 8th, 2023

G&S Capital LLC bought a new position in NVIDIA Co. (NASDAQ:NVDA – Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,489 shares of the computer hardware maker’s stock, valued at approximately $1,247,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Contravisory Investment Management Inc. purchased a new position in NVIDIA during the 1st quarter worth approximately $28,000. GoalVest Advisory LLC boosted its position 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 buying an additional 108 shares during the period. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in NVIDIA during the fourth quarter valued at $34,000. Financial Connections Group Inc. lifted its stake in NVIDIA by 605.7% in the 4th 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 in the last quarter. Finally, Chelsea Counsel Co. acquired a new stake in NVIDIA during the 4th quarter worth about $37,000. 64.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NVIDIA

In other news, Director Harvey C. Jones sold 119,795 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $403.17, for a total value of $48,297,750.15. Following the completion of the transaction, the director now directly owns 676,396 shares of the company’s stock, valued at approximately $272,702,575.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 139,860 shares of the company’s stock, valued at $42,657,300. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Harvey C. Jones sold 119,795 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $403.17, for a total value of $48,297,750.15. Following the completion of the sale, the director now owns 676,396 shares of the company’s stock, valued at $272,702,575.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 368,271 shares of company stock valued at $147,115,953. 3.99% of the stock is currently owned by corporate insiders.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $425.03 on Friday. The business’s 50 day moving average is $367.20 and its 200-day moving average is $271.47. The company has a current ratio of 3.43, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $1.05 trillion, a PE ratio of 221.37, a PEG ratio of 2.90 and a beta of 1.74. NVIDIA Co. has a 1-year low of $108.13 and a 1-year high of $439.90.

NVIDIA (NASDAQ:NVDA – Free Report) last announced its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.17. The firm had revenue of $7.19 billion for the quarter, compared to analyst estimates of $6.52 billion. NVIDIA had a net margin of 18.52% and a return on equity of 23.63%. The business’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.18 EPS. Sell-side analysts predict that NVIDIA Co. will post 6.31 earnings per share for the current year.

NVIDIA Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NVDA shares. Oppenheimer increased their price target on shares of NVIDIA from $350.00 to $420.00 in a research report on Thursday, May 25th. HSBC upgraded shares of NVIDIA from a “reduce” rating to a “buy” rating and increased their target price for the stock from $175.00 to $355.00 in a research report on Tuesday, April 18th. Wedbush upgraded shares of NVIDIA from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $290.00 to $490.00 in a report on Thursday, May 25th. Craig Hallum upgraded NVIDIA from a “hold” rating to a “buy” rating and set a $500.00 price objective for the company in a report on Thursday, May 25th. Finally, Bank of America upped their target price on NVIDIA from $450.00 to $500.00 in a research report on Wednesday, May 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $399.19.

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.