Inspire Advisors LLC Grows Holdings in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 12th, 2023

Inspire Advisors LLC lifted its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,858 shares of the computer hardware maker’s stock after buying an additional 51 shares during the quarter. NVIDIA makes up about 0.2% of Inspire Advisors LLC’s holdings, making the stock its 20th biggest holding. Inspire Advisors LLC’s holdings in NVIDIA were worth $1,072,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. GoalVest Advisory LLC boosted its holdings in shares of NVIDIA by 124.1% during the 4th quarter. GoalVest Advisory LLC now owns 195 shares of the computer hardware maker’s stock valued at $28,000 after acquiring an additional 108 shares during the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of NVIDIA during the 1st quarter valued at about $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in shares of NVIDIA during the 4th quarter valued at about $34,000. Financial Connections Group Inc. boosted its holdings in shares of NVIDIA by 605.7% during the 4th quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock valued at $36,000 after acquiring an additional 212 shares during the last quarter. Finally, NewSquare Capital LLC bought a new position in shares of NVIDIA in the 4th quarter worth approximately $37,000. 64.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NVDA has been the topic of several recent research reports. The Goldman Sachs Group increased their price objective on shares of NVIDIA from $440.00 to $495.00 in a research note on Monday. Truist Financial raised their target price on shares of NVIDIA from $322.00 to $470.00 in a research note on Thursday, May 25th. Sanford C. Bernstein lifted their price objective on shares of NVIDIA from $300.00 to $475.00 in a research report on Thursday, May 25th. Wells Fargo & Company raised their target price on shares of NVIDIA from $320.00 to $450.00 in a report on Thursday, May 25th. Finally, UBS Group raised their target price on shares of NVIDIA from $315.00 to $475.00 in a report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $405.41.

Insiders Place Their Bets

In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of the business’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 completion of the transaction, the executive vice president now directly owns 139,860 shares in the company, valued at $42,657,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Debora Shoquist sold 23,084 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 139,860 shares in the company, valued at $42,657,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Stevens sold 40,000 shares of the business’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. Over the last ninety days, insiders sold 368,271 shares of company stock worth $147,115,953. 3.99% of the stock is owned by corporate insiders.

NVIDIA Stock Performance

NVDA stock opened at $424.05 on Wednesday. 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 business has a 50-day moving average price of $372.69 and a 200 day moving average price of $276.81. The company has a market capitalization of $1.05 trillion, a P/E ratio of 220.86, a PEG ratio of 2.93 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 – Get Free Report) last released its quarterly earnings data on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.17. The firm had revenue of $7.19 billion during 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.18 earnings per share. As a group, equities research analysts forecast that NVIDIA Co. will post 6.31 EPS for the current fiscal year.

NVIDIA Announces Dividend

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. 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 dividend payout ratio is presently 8.33%.

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.