Penn Davis Mcfarland Inc. Acquires 485 Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 9th, 2023

Penn Davis Mcfarland Inc. grew its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 26.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,353 shares of the computer hardware maker’s stock after purchasing an additional 485 shares during the period. Penn Davis Mcfarland Inc.’s holdings in NVIDIA were worth $654,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new stake in shares of NVIDIA in the fourth quarter worth $3,900,874,000. Moneta Group Investment Advisors LLC grew its holdings in shares of NVIDIA by 160,446.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock worth $2,862,392,000 after acquiring an additional 19,574,443 shares during the period. Jennison Associates LLC grew its holdings in shares of NVIDIA by 34.8% in the fourth quarter. Jennison Associates LLC now owns 23,299,291 shares of the computer hardware maker’s stock worth $3,404,958,000 after acquiring an additional 6,013,647 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of NVIDIA by 9.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock worth $8,323,694,000 after acquiring an additional 5,043,685 shares during the period. Finally, Morgan Stanley grew its holdings in shares of NVIDIA by 20.2% in the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after acquiring an additional 4,621,002 shares during the period. Institutional investors own 64.00% of the company’s stock.

Insider Activity

In other news, Director Mark A. Stevens sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $432.06, for a total transaction of $17,282,400.00. Following the transaction, the director now owns 1,052,286 shares of the company’s stock, valued at $454,650,689.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director John Dabiri sold 283 shares of the stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $424.53, for a total value of $120,141.99. Following the transaction, the director now owns 2,401 shares of the company’s stock, valued at $1,019,296.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 40,000 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $454,650,689.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 368,271 shares of company stock valued at $147,115,953. 3.99% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. Mizuho lifted their price objective on NVIDIA from $290.00 to $400.00 in a report on Thursday, May 25th. UBS Group boosted their price target on NVIDIA from $315.00 to $475.00 in a report on Thursday, May 25th. The Goldman Sachs Group boosted their price target on NVIDIA from $275.00 to $440.00 in a report on Thursday, May 25th. HSBC raised NVIDIA from a “reduce” rating to a “buy” rating and boosted their price target for the company from $175.00 to $355.00 in a report on Tuesday, April 18th. Finally, Truist Financial boosted their price target on NVIDIA from $322.00 to $470.00 in a report on Thursday, May 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average price target of $399.19.

NVIDIA Trading Up 1.0 %

Shares of NASDAQ NVDA opened at $425.03 on Friday. The business’s 50 day moving average is $367.20 and its two-hundred day moving average is $272.25. 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 Co. has a 1-year low of $108.13 and a 1-year high of $439.90. The stock has a market capitalization of $1.05 trillion, a P/E ratio of 221.37, a PEG ratio of 2.93 and a beta of 1.74.

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

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 8th were paid 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 dividend yield of 0.04%. NVIDIA’s dividend payout ratio is 8.33%.

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.