Beaird Harris Wealth Management LLC Sells 1,148 Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 12th, 2023

Beaird Harris Wealth Management LLC trimmed its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 45.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,381 shares of the computer hardware maker’s stock after selling 1,148 shares during the period. Beaird Harris Wealth Management LLC’s holdings in NVIDIA were worth $384,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in NVDA. Contravisory Investment Management Inc. bought a new position in NVIDIA in the 1st quarter worth approximately $28,000. GoalVest Advisory LLC grew 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 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. grew 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 worth $36,000 after purchasing an additional 212 shares in the last quarter. Finally, Chelsea Counsel Co. acquired a new stake in shares of NVIDIA during the 4th quarter worth approximately $37,000. 64.00% of the stock is owned by institutional investors.

NVIDIA Stock Up 0.5 %

Shares of NASDAQ:NVDA opened at $424.05 on Wednesday. The company has a 50 day moving average price of $372.69 and a two-hundred day moving average price of $276.81. The company has a market capitalization of $1.05 trillion, a PE ratio of 220.86, a PEG ratio of 2.93 and a beta of 1.74. NVIDIA Co. has a 52 week low of $108.13 and a 52 week high of $439.90. 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 – Get 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. NVIDIA had a return on equity of 23.63% and a net margin of 18.52%. The business had revenue of $7.19 billion for the quarter, compared to the consensus estimate of $6.52 billion. During the same quarter last year, the business posted $1.18 EPS. The firm’s revenue was down 13.2% compared to the same quarter last year. Analysts forecast that NVIDIA Co. will post 6.31 earnings per share for the current year.

NVIDIA Announces Dividend

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

Analyst Upgrades and Downgrades

NVDA has been the topic of several recent research reports. TD Cowen lifted their price objective on NVIDIA from $260.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, March 22nd. Barclays lifted their price objective on NVIDIA from $275.00 to $500.00 in a report on Thursday, May 25th. Morgan Stanley boosted their price target on NVIDIA from $450.00 to $500.00 and gave the company an “overweight” rating in a research note on Friday, June 16th. Craig Hallum raised NVIDIA from a “hold” rating to a “buy” rating and set a $500.00 price target on the stock in a research note on Thursday, May 25th. Finally, Sanford C. Bernstein boosted their price target on NVIDIA from $300.00 to $475.00 in a research note on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $405.41.

Insider Buying and Selling

In other news, Director John Dabiri sold 283 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $424.53, for a total value of $120,141.99. Following the completion of the transaction, the director now owns 2,401 shares in the company, valued at $1,019,296.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, 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 directly owns 1,052,286 shares in the company, valued at $454,650,689.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Dabiri sold 283 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. In the last three months, insiders sold 368,271 shares of company stock valued at $147,115,953. 3.99% of the stock is owned by corporate insiders.

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.