NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Arlington Partners LLC

Posted by Defense World Staff on Jul 16th, 2023

Arlington Partners LLC grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 32.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,268 shares of the computer hardware maker’s stock after purchasing an additional 798 shares during the period. Arlington Partners LLC’s holdings in NVIDIA were worth $908,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Contravisory Investment Management Inc. acquired a new position in shares of NVIDIA during the first quarter valued at $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in NVIDIA during the fourth quarter worth about $34,000. Financial Connections Group Inc. grew its holdings in NVIDIA by 605.7% during the fourth quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock worth $36,000 after acquiring an additional 212 shares during the period. NewSquare Capital LLC acquired a new position in NVIDIA during the fourth quarter worth about $37,000. Finally, Chelsea Counsel Co. acquired a new position in NVIDIA during the fourth quarter worth about $37,000. 64.00% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of NVIDIA stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $305.00, for a total value of $7,040,620.00. Following the transaction, the executive vice president now directly owns 139,860 shares of the company’s stock, valued at approximately $42,657,300. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of NVIDIA stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $305.00, for a total value of $7,040,620.00. Following the transaction, the executive vice president now directly owns 139,860 shares of the company’s stock, valued at approximately $42,657,300. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 100,000 shares of NVIDIA stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $379.00, for a total value of $37,900,000.00. Following the sale, the director now directly owns 3,397,136 shares in the company, valued at approximately $1,287,514,544. The disclosure for this sale can be found here. Insiders have sold a total of 368,271 shares of company stock valued at $147,115,953 in the last three months. Company insiders own 3.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $320.00 target price on shares of NVIDIA in a report on Wednesday, March 22nd. Daiwa Capital Markets upgraded NVIDIA from a “neutral” rating to an “outperform” rating and increased their price target for the company from $408.00 to $475.00 in a research report on Thursday, June 29th. Morgan Stanley increased their price target on NVIDIA from $450.00 to $500.00 and gave the company an “overweight” rating in a research report on Friday, June 16th. HSBC upgraded NVIDIA from a “reduce” rating to a “buy” rating and increased their price target for the company from $175.00 to $355.00 in a research report on Tuesday, April 18th. Finally, TD Cowen increased their price target on NVIDIA from $260.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, March 22nd. 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, the stock has an average rating of “Moderate Buy” and an average price target of $407.43.

NVIDIA Stock Down 1.1 %

Shares of NVDA stock opened at $454.69 on Friday. The stock’s 50 day simple moving average is $382.95 and its 200 day simple moving average is $282.29. 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 Co. has a twelve month low of $108.13 and a twelve month high of $480.88. The company has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 236.82, a PEG 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 EPS for the quarter, topping the consensus estimate of $0.92 by $0.17. The company had revenue of $7.19 billion for 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 company’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.18 EPS. As a group, research analysts predict that NVIDIA Co. will post 6.33 EPS for the current year.

NVIDIA Announces Dividend

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