NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Tributary Capital Management LLC

Posted by Defense World Staff on Jul 16th, 2023

Tributary Capital Management LLC trimmed its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,380 shares of the computer hardware maker’s stock after selling 100 shares during the quarter. Tributary Capital Management LLC’s holdings in NVIDIA were worth $1,217,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in NVDA. Price T Rowe Associates Inc. MD increased its position in NVIDIA by 9.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock valued at $8,323,694,000 after acquiring an additional 5,043,685 shares during the period. Geode Capital Management LLC increased its position in NVIDIA by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 45,788,952 shares of the computer hardware maker’s stock valued at $6,679,427,000 after acquiring an additional 692,636 shares during the period. Morgan Stanley increased its position in NVIDIA by 20.2% in the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after acquiring an additional 4,621,002 shares during the period. Norges Bank acquired a new stake in NVIDIA in the 4th quarter valued at approximately $3,900,874,000. Finally, Jennison Associates LLC increased its position in NVIDIA by 34.8% in the 4th quarter. Jennison Associates LLC now owns 23,299,291 shares of the computer hardware maker’s stock valued at $3,404,958,000 after acquiring an additional 6,013,647 shares during the period. 64.00% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Down 1.1 %

NVIDIA stock opened at $454.69 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.79 and a current ratio of 3.43. The business’s 50-day simple moving average is $382.95 and its 200-day simple moving average is $282.29. The firm has a market capitalization of $1.12 trillion, a PE ratio of 236.82, a PEG ratio of 3.16 and a beta of 1.74. NVIDIA Co. has a 52 week low of $108.13 and a 52 week high of $480.88.

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

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 8th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend was Wednesday, June 7th. NVIDIA’s dividend payout ratio (DPR) is presently 8.33%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NVDA shares. JPMorgan Chase & Co. lifted their price target on NVIDIA from $250.00 to $500.00 in a research report on Thursday, May 25th. Bank of America lifted their price target on NVIDIA from $450.00 to $500.00 in a research report on Wednesday, May 31st. HSBC upgraded NVIDIA from a “reduce” rating to a “buy” rating and lifted their price target for the company from $175.00 to $355.00 in a research report on Tuesday, April 18th. The Goldman Sachs Group lifted their price target on NVIDIA from $440.00 to $495.00 in a research report on Monday, July 10th. Finally, Piper Sandler lifted 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 given a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $407.43.

Insider Buying and Selling

In related news, Director John Dabiri sold 283 shares of NVIDIA stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $424.53, for a total transaction of $120,141.99. Following the sale, the director now directly owns 2,401 shares of the company’s stock, valued at $1,019,296.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director John Dabiri sold 283 shares of NVIDIA stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $424.53, for a total transaction of $120,141.99. Following the sale, the director now directly owns 2,401 shares of the company’s stock, valued at $1,019,296.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Debora Shoquist sold 23,084 shares of NVIDIA stock in a transaction dated 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 sale, the executive vice president now directly owns 139,860 shares in the company, valued at $42,657,300. 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 over the last three months. 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.