Walter & Keenan Wealth Management LLC IN ADV Invests $425,000 in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 16th, 2023

Walter & Keenan Wealth Management LLC IN ADV purchased a new position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,529 shares of the computer hardware maker’s stock, valued at approximately $425,000.

Several other institutional investors have also modified their holdings of the stock. Highview Capital Management LLC DE purchased a new stake in NVIDIA in the 1st quarter valued at about $226,000. Proffitt & Goodson Inc. raised its holdings in NVIDIA by 0.7% in the 1st quarter. Proffitt & Goodson Inc. now owns 7,721 shares of the computer hardware maker’s stock valued at $2,145,000 after buying an additional 51 shares during the period. Rooted Wealth Advisors Inc. raised its holdings in NVIDIA by 12.0% in the 1st quarter. Rooted Wealth Advisors Inc. now owns 1,866 shares of the computer hardware maker’s stock valued at $499,000 after buying an additional 200 shares during the period. MV Capital Management Inc. raised its holdings in NVIDIA by 7.1% in the 1st quarter. MV Capital Management Inc. now owns 11,566 shares of the computer hardware maker’s stock valued at $3,213,000 after buying an additional 769 shares during the period. Finally, Tower Bridge Advisors raised its holdings in NVIDIA by 3.3% in the 1st quarter. Tower Bridge Advisors now owns 23,098 shares of the computer hardware maker’s stock valued at $6,416,000 after buying an additional 735 shares during the period. Hedge funds and other institutional investors own 64.00% of the company’s stock.

Insider Buying and Selling

In related news, CFO Colette Kress sold 6,124 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $406.51, for a total transaction of $2,489,467.24. Following the completion of the sale, the chief financial officer now directly owns 538,745 shares of the company’s stock, valued at $219,005,229.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other NVIDIA news, CFO Colette Kress sold 6,124 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $406.51, for a total value of $2,489,467.24. Following the completion of the sale, the chief financial officer now owns 538,745 shares of the company’s stock, valued at $219,005,229.95. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John Dabiri sold 283 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 2,401 shares of the company’s stock, valued at approximately $1,019,296.53. The disclosure for this sale can be found here. Insiders sold a total of 368,271 shares of company stock valued at $147,115,953 over the last three months. 3.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NVDA shares. Daiwa Capital Markets upgraded shares of NVIDIA from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $408.00 to $475.00 in a report on Thursday, June 29th. BMO Capital Markets boosted their price objective on shares of NVIDIA from $350.00 to $450.00 in a report on Thursday, May 25th. The Goldman Sachs Group lifted their target price on NVIDIA from $440.00 to $495.00 in a research report on Monday, July 10th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $320.00 target price on shares of NVIDIA in a research report on Wednesday, March 22nd. Finally, Citigroup lifted their target price on NVIDIA from $363.00 to $420.00 in a research report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $407.43.

NVIDIA Stock Performance

Shares of NVDA opened at $454.69 on Friday. The company has a current ratio of 3.43, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40. The company’s 50 day simple moving average is $382.95 and its 200-day simple moving average is $282.29. NVIDIA Co. has a 12-month low of $108.13 and a 12-month high of $480.88. The firm has a market cap of $1.12 trillion, a PE ratio of 236.82, a price-to-earnings-growth ratio of 3.16 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 earnings per share 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 firm had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $6.52 billion. During the same period last year, the company earned $1.18 earnings per share. The company’s revenue for the quarter was down 13.2% on a year-over-year basis. As a group, equities analysts predict that NVIDIA Co. will post 6.33 EPS for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 8th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.04%. The ex-dividend date of this dividend was Wednesday, June 7th. 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.