NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Geneos Wealth Management Inc.

Posted by on Jul 13th, 2023

Geneos Wealth Management Inc. reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 23.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,454 shares of the computer hardware maker’s stock after selling 3,897 shares during the period. Geneos Wealth Management Inc.’s holdings in NVIDIA were worth $3,459,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC grew its position in shares of NVIDIA by 1.8% during the 1st quarter. Opal Wealth Advisors LLC now owns 2,103 shares of the computer hardware maker’s stock valued at $584,000 after buying an additional 37 shares during the last quarter. Westhampton Capital LLC raised its position in shares of NVIDIA by 0.7% during the 1st quarter. Westhampton Capital LLC now owns 5,545 shares of the computer hardware maker’s stock worth $1,540,000 after purchasing an additional 40 shares during the period. Naples Global Advisors LLC lifted its holdings in shares of NVIDIA by 1.0% in the 1st quarter. Naples Global Advisors LLC now owns 4,309 shares of the computer hardware maker’s stock worth $1,197,000 after purchasing an additional 42 shares during the last quarter. Tradewinds Capital Management LLC boosted its position in NVIDIA by 15.8% during the 1st quarter. Tradewinds Capital Management LLC now owns 329 shares of the computer hardware maker’s stock valued at $91,000 after purchasing an additional 45 shares during the period. Finally, Northstar Asset Management LLC grew its stake in NVIDIA by 0.9% during the 1st quarter. Northstar Asset Management LLC now owns 5,225 shares of the computer hardware maker’s stock worth $1,451,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 64.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. KeyCorp boosted their price target on shares of NVIDIA from $500.00 to $550.00 and gave the company an “overweight” rating in a report on Tuesday. Rosenblatt Securities restated a “buy” rating and issued a $320.00 price target on shares of NVIDIA in a research note on Wednesday, March 22nd. Jefferies Financial Group increased their price objective on NVIDIA from $472.00 to $500.00 in a report on Tuesday, June 20th. Bank of America lifted their target price on NVIDIA from $450.00 to $500.00 in a research note on Wednesday, May 31st. Finally, BNP Paribas raised NVIDIA from an “underperform” rating to a “neutral” rating and set a $230.00 price target for the company in a research note on Tuesday, March 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $405.41.

Insider Activity

In related news, Director John Dabiri sold 283 shares of the stock in a transaction on Monday, June 26th. The stock was sold at an average price of $424.53, for a total transaction of $120,141.99. Following the completion of the sale, the director now directly owns 2,401 shares in the company, valued at $1,019,296.53. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Debora Shoquist sold 23,084 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the transaction, the executive vice president now owns 139,860 shares in the company, valued at approximately $42,657,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Dabiri sold 283 shares of the company’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $424.53, for a total transaction of $120,141.99. Following the completion of the sale, 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. Insiders have sold a total of 368,271 shares of company stock worth $147,115,953 in the last ninety days. Corporate insiders own 3.99% of the company’s stock.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $439.02 on Thursday. NVIDIA Co. has a 12 month low of $108.13 and a 12 month high of $439.90. The company has a quick ratio of 2.79, a current ratio of 3.43 and a debt-to-equity ratio of 0.40. The stock has a market cap of $1.08 trillion, a PE ratio of 228.66, a price-to-earnings-growth ratio of 2.91 and a beta of 1.74. The business has a fifty day simple moving average of $375.91 and a 200-day simple moving average of $277.94.

NVIDIA (NASDAQ:NVDA – Get Free Report) last released its earnings results 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 company 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 business’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.18 EPS. On average, sell-side analysts anticipate that NVIDIA Co. will post 6.33 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 8th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date was Wednesday, June 7th. NVIDIA’s dividend payout ratio (DPR) is currently 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.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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