Kowal Investment Group LLC Purchases 826 Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 9th, 2023

Kowal Investment Group LLC lifted its position in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 14.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,513 shares of the computer hardware maker’s stock after acquiring an additional 826 shares during the quarter. NVIDIA makes up approximately 0.5% of Kowal Investment Group LLC’s portfolio, making the stock its 27th largest position. Kowal Investment Group LLC’s holdings in NVIDIA were worth $1,809,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. GoalVest Advisory LLC grew its position in NVIDIA by 124.1% during the fourth quarter. GoalVest Advisory LLC now owns 195 shares of the computer hardware maker’s stock valued at $28,000 after buying an additional 108 shares during the period. Contravisory Investment Management Inc. bought a new position in NVIDIA during the first quarter valued at about $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in NVIDIA during the fourth quarter valued at about $34,000. Financial Connections Group Inc. grew its position in NVIDIA by 605.7% during the fourth quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock valued at $36,000 after buying an additional 212 shares during the period. Finally, NewSquare Capital LLC bought a new position in NVIDIA during the fourth quarter valued at about $37,000. Institutional investors own 64.00% of the company’s stock.

NVIDIA Trading Up 1.0 %

NVDA opened at $425.03 on Friday. NVIDIA Co. has a one year low of $108.13 and a one year high of $439.90. The company has a market cap of $1.05 trillion, a P/E ratio of 221.37, a PEG ratio of 2.93 and a beta of 1.74. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.79 and a current ratio of 3.43. The business’s 50-day simple moving average is $367.20 and its 200-day simple moving average is $272.25.

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

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 8th were given 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%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NVDA shares. BNP Paribas upgraded shares of NVIDIA from an “underperform” rating to a “neutral” rating and set a $230.00 target price for the company in a research report on Tuesday, March 21st. Piper Sandler increased their target price on shares of NVIDIA from $440.00 to $450.00 in a research report on Thursday, June 29th. The Goldman Sachs Group increased their target price on shares of NVIDIA from $275.00 to $440.00 in a research report on Thursday, May 25th. Daiwa Capital Markets upgraded shares of NVIDIA from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $408.00 to $475.00 in a research report on Thursday, June 29th. Finally, Craig Hallum upgraded shares of NVIDIA from a “hold” rating to a “buy” rating and set a $500.00 target price for the company in a research report on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $399.19.

Insider Activity

In other news, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $379.00, for a total value of $37,900,000.00. Following the completion of the sale, the director now directly owns 3,397,136 shares of the company’s stock, valued at approximately $1,287,514,544. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $7,040,620.00. Following the completion of the transaction, the executive vice president now directly owns 139,860 shares of the company’s stock, valued at $42,657,300. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Tench Coxe sold 100,000 shares of NVIDIA stock in a transaction on Friday, May 26th. The stock was sold at an average price of $379.00, for a total value of $37,900,000.00. Following the transaction, the director now directly owns 3,397,136 shares of the company’s stock, valued at $1,287,514,544. The disclosure for this sale can be found here. Insiders sold 368,271 shares of company stock valued at $147,115,953 in the last three months. 3.99% of the stock is currently owned by company insiders.

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.