Ahrens Investment Partners LLC Has $1.11 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 10th, 2023

Ahrens Investment Partners LLC raised its position in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 1.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,006 shares of the computer hardware maker’s stock after buying an additional 49 shares during the period. Ahrens Investment Partners LLC’s holdings in NVIDIA were worth $1,113,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC increased its stake in NVIDIA by 1.8% in the first quarter. Opal Wealth Advisors LLC now owns 2,103 shares of the computer hardware maker’s stock valued at $584,000 after purchasing an additional 37 shares in the last quarter. Westhampton Capital LLC increased its position in shares of NVIDIA by 0.7% during the first quarter. Westhampton Capital LLC now owns 5,545 shares of the computer hardware maker’s stock worth $1,540,000 after acquiring an additional 40 shares in the last quarter. Naples Global Advisors LLC increased its position in shares of NVIDIA by 1.0% during the first quarter. Naples Global Advisors LLC now owns 4,309 shares of the computer hardware maker’s stock worth $1,197,000 after acquiring an additional 42 shares in the last quarter. Tradewinds Capital Management LLC increased its position in shares of NVIDIA by 15.8% during the first quarter. Tradewinds Capital Management LLC now owns 329 shares of the computer hardware maker’s stock worth $91,000 after acquiring an additional 45 shares in the last quarter. Finally, Birch Capital Management LLC increased its position in shares of NVIDIA by 3.1% during the fourth quarter. Birch Capital Management LLC now owns 1,589 shares of the computer hardware maker’s stock worth $232,000 after acquiring an additional 48 shares in the last quarter. 64.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $432.06, for a total value of $17,282,400.00. Following 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 legal filing with the SEC, which is available through this link. 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 value of $7,040,620.00. Following the transaction, the executive vice president now directly 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 SEC, which is available through this link. Also, Director Mark A. Stevens sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $432.06, for a total transaction of $17,282,400.00. Following the completion of the sale, the director now owns 1,052,286 shares in the company, valued at $454,650,689.16. The disclosure for this sale can be found here. Insiders have sold a total of 368,271 shares of company stock valued at $147,115,953 in the last ninety days. 3.99% of the stock is currently owned by company insiders.

NVIDIA Price Performance

NASDAQ:NVDA opened at $425.03 on Monday. NVIDIA Co. has a 52 week low of $108.13 and a 52 week high of $439.90. The firm has a market cap of $1.05 trillion, a price-to-earnings ratio of 221.37, a P/E/G ratio of 2.93 and a beta of 1.74. The firm’s 50-day simple moving average is $367.20 and its 200 day simple moving average is $273.00. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.79 and a current ratio of 3.43.

NVIDIA (NASDAQ:NVDA – Free Report) last released its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 EPS for the quarter, topping 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 business had revenue of $7.19 billion for the quarter, compared to analyst estimates of $6.52 billion. During the same period last year, the firm earned $1.18 earnings per share. NVIDIA’s revenue for the quarter was down 13.2% compared to the same quarter last year. As a group, sell-side analysts predict that NVIDIA Co. will post 6.31 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 8th were issued 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 is currently 8.33%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NVDA shares. Daiwa Capital Markets raised shares of NVIDIA from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $408.00 to $475.00 in a research report on Thursday, June 29th. Robert W. Baird raised shares of NVIDIA from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $300.00 to $475.00 in a research report on Thursday, May 25th. Evercore ISI increased their target price on shares of NVIDIA from $320.00 to $500.00 in a report on Thursday, May 25th. Rosenblatt Securities restated a “buy” rating and set a $320.00 target price on shares of NVIDIA in a report on Wednesday, March 22nd. Finally, Oppenheimer increased their target price on shares of NVIDIA from $350.00 to $420.00 in a report on Thursday, May 25th. One investment 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 stock. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $399.19.

NVIDIA Company 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.