Bard Financial Services Inc. Buys 375 Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 16th, 2023

Bard Financial Services Inc. grew its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 2.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,125 shares of the computer hardware maker’s stock after acquiring an additional 375 shares during the period. Bard Financial Services Inc.’s holdings in NVIDIA were worth $5,312,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NVDA. Contravisory Investment Management Inc. bought a new position in NVIDIA in the first quarter worth approximately $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in shares of NVIDIA during the 4th quarter valued at $34,000. Financial Connections Group Inc. raised its position in shares of NVIDIA by 605.7% during the 4th quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock valued at $36,000 after purchasing an additional 212 shares during the period. NewSquare Capital LLC bought a new stake in shares of NVIDIA during the 4th quarter valued at $37,000. Finally, Chelsea Counsel Co. bought a new stake in shares of NVIDIA during the 4th quarter valued at $37,000. 64.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on NVDA shares. Credit Suisse Group set a $275.00 price objective on shares of NVIDIA in a research report on Wednesday, March 22nd. Daiwa Capital Markets raised NVIDIA from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $408.00 to $475.00 in a report on Thursday, June 29th. Needham & Company LLC raised their price target on NVIDIA from $300.00 to $460.00 in a report on Thursday, May 25th. Citigroup upped their price objective on NVIDIA from $363.00 to $420.00 in a report on Thursday, May 25th. Finally, TheStreet raised shares of NVIDIA from a “c+” rating to a “b-” rating in a report on Monday, March 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $407.43.

Insider Buying and Selling

In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $305.00, for a total value of $7,040,620.00. Following the completion of the sale, the executive vice president now directly owns 139,860 shares in the company, valued at $42,657,300. The sale was disclosed in a legal 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 stock was sold at an average price of $305.00, for a total value of $7,040,620.00. Following the completion of the sale, the executive vice president now owns 139,860 shares of the company’s stock, 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 Tench Coxe sold 100,000 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $379.00, for a total value of $37,900,000.00. Following the transaction, the director now directly owns 3,397,136 shares in the company, valued at $1,287,514,544. 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 90 days. 3.99% of the stock is owned by corporate insiders.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $454.69 on Friday. 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 company has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 236.82, a price-to-earnings-growth ratio of 3.16 and a beta of 1.74. The firm has a 50 day moving average of $382.95 and a 200 day moving average of $282.29. 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 issued its quarterly earnings data on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share 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 during the quarter, compared to analysts’ expectations of $6.52 billion. During the same period in the prior year, the business posted $1.18 EPS. The firm’s quarterly revenue was down 13.2% on a year-over-year basis. On average, sell-side analysts predict that NVIDIA Co. will post 6.33 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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