NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by HighMark Wealth Management LLC

Posted by Defense World Staff on Jul 8th, 2023

HighMark Wealth Management LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 56.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,639 shares of the computer hardware maker’s stock after buying an additional 591 shares during the quarter. HighMark Wealth Management LLC’s holdings in NVIDIA were worth $455,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Contravisory Investment Management Inc. acquired a new stake in NVIDIA during the first quarter worth about $28,000. GoalVest Advisory LLC boosted its position in NVIDIA by 124.1% in the 4th 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. acquired a new stake in shares of NVIDIA during the 4th quarter worth approximately $34,000. Financial Connections Group Inc. lifted its stake in shares of NVIDIA by 605.7% in the 4th quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock valued at $36,000 after purchasing an additional 212 shares during the period. Finally, Chelsea Counsel Co. purchased a new stake in NVIDIA during the fourth quarter worth $37,000. 64.00% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Up 1.0 %

NASDAQ NVDA opened at $425.03 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.43 and a quick ratio of 2.79. The stock has a market capitalization of $1.05 trillion, a P/E ratio of 221.37, a PEG ratio of 2.90 and a beta of 1.74. The firm’s 50-day moving average is $367.20 and its two-hundred day moving average is $271.47. NVIDIA Co. has a 12 month low of $108.13 and a 12 month high of $439.90.

NVIDIA (NASDAQ:NVDA – Free Report) last issued its quarterly earnings data on Wednesday, May 24th. The computer hardware maker reported $1.09 EPS for the quarter, topping 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.18 EPS. On average, sell-side analysts anticipate that NVIDIA Co. will post 6.31 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 40,000 shares of NVIDIA stock in a transaction dated 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 completion of the transaction, the director now directly owns 1,052,286 shares of the company’s stock, valued at approximately $454,650,689.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Debora Shoquist sold 23,084 shares of NVIDIA 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 completion of the transaction, the executive vice president now directly owns 139,860 shares in the company, valued at $42,657,300. 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 the company’s stock in a transaction dated 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 owns 1,052,286 shares in the company, valued at approximately $454,650,689.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 368,271 shares of company stock valued at $147,115,953. Corporate insiders own 3.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NVDA shares. Susquehanna upped their price objective on shares of NVIDIA from $350.00 to $450.00 in a research report on Thursday, May 25th. Truist Financial upped their price target on NVIDIA from $322.00 to $470.00 in a report on Thursday, May 25th. Wedbush upgraded NVIDIA from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $290.00 to $490.00 in a research report on Thursday, May 25th. HSBC raised NVIDIA from a “reduce” rating to a “buy” rating and upped their target price for the stock from $175.00 to $355.00 in a research note on Tuesday, April 18th. Finally, Tigress Financial lifted their price target on shares of NVIDIA from $320.00 to $560.00 in a research note on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $399.19.

NVIDIA 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.