NorthCrest Asset Manangement LLC Has $31.24 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 13th, 2023

NorthCrest Asset Manangement LLC lifted its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 3.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,470 shares of the computer hardware maker’s stock after acquiring an additional 3,778 shares during the period. NVIDIA makes up about 1.3% of NorthCrest Asset Manangement LLC’s holdings, making the stock its 7th largest holding. NorthCrest Asset Manangement LLC’s holdings in NVIDIA were worth $31,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in NVDA. David J Yvars Group boosted its stake in NVIDIA by 1.5% during the first quarter. David J Yvars Group now owns 11,708 shares of the computer hardware maker’s stock valued at $3,252,000 after buying an additional 168 shares during the period. Personal Capital Advisors Corp boosted its stake in NVIDIA by 29.9% during the fourth quarter. Personal Capital Advisors Corp now owns 622,700 shares of the computer hardware maker’s stock valued at $91,001,000 after buying an additional 143,483 shares during the period. Alta Wealth Advisors LLC boosted its stake in NVIDIA by 14.9% during the first quarter. Alta Wealth Advisors LLC now owns 6,650 shares of the computer hardware maker’s stock valued at $1,847,000 after buying an additional 863 shares during the period. Linden Thomas Advisory Services LLC raised its position in NVIDIA by 2.4% during the first quarter. Linden Thomas Advisory Services LLC now owns 14,601 shares of the computer hardware maker’s stock valued at $4,056,000 after purchasing an additional 342 shares in the last quarter. Finally, Avala Global LP purchased a new stake in NVIDIA during the fourth quarter valued at about $16,455,000. 64.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wells Fargo & Company raised their price target on NVIDIA from $320.00 to $450.00 in a research report on Thursday, May 25th. Wedbush upgraded NVIDIA from a “neutral” rating to an “outperform” rating and raised their price target for the company from $290.00 to $490.00 in a research report on Thursday, May 25th. Oppenheimer raised their price target on NVIDIA from $350.00 to $420.00 in a research report on Thursday, May 25th. Mizuho raised their price target on NVIDIA from $290.00 to $400.00 in a research report on Thursday, May 25th. Finally, Piper Sandler raised their price target on NVIDIA from $440.00 to $450.00 in a research report on Thursday, June 29th. 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 company. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $405.41.

NVIDIA Stock Performance

Shares of NVDA opened at $439.02 on Thursday. 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 business’s 50 day moving average price is $375.91 and its 200-day moving average price is $277.94. NVIDIA Co. has a 52 week low of $108.13 and a 52 week high of $439.90. The stock has a market cap of $1.08 trillion, a P/E ratio of 228.66, a P/E/G ratio of 2.91 and a beta of 1.74.

NVIDIA (NASDAQ:NVDA – Get Free Report) last issued 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 return on equity of 23.63% and a net margin of 18.52%. The firm had revenue of $7.19 billion for the quarter, compared to analysts’ expectations of $6.52 billion. During the same period in the previous year, the firm posted $1.18 EPS. The business’s revenue for the quarter was down 13.2% compared to the same quarter last year. Equities research analysts anticipate that NVIDIA Co. will post 6.33 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling

In related news, CFO Colette Kress sold 6,124 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $406.51, for a total value of $2,489,467.24. Following the completion of the transaction, the chief financial officer now directly owns 538,745 shares in the company, valued at approximately $219,005,229.95. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Colette Kress sold 6,124 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $406.51, for a total value of $2,489,467.24. Following the completion of the transaction, the chief financial officer now directly owns 538,745 shares in the company, valued at approximately $219,005,229.95. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Debora Shoquist sold 23,084 shares of the business’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 sale, the executive vice president now owns 139,860 shares of the company’s stock, valued at $42,657,300. The disclosure for this sale can be found here. Insiders sold a total of 368,271 shares of company stock worth $147,115,953 in the last three months. Insiders own 3.99% of the company’s stock.

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.