Highview Capital Management LLC DE Purchases New Stake in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 16th, 2023

Highview Capital Management LLC DE purchased a new stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 812 shares of the computer hardware maker’s stock, valued at approximately $226,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Proffitt & Goodson Inc. increased its stake in NVIDIA by 0.7% during the first quarter. Proffitt & Goodson Inc. now owns 7,721 shares of the computer hardware maker’s stock worth $2,145,000 after acquiring an additional 51 shares during the last quarter. Rooted Wealth Advisors Inc. increased its stake in NVIDIA by 12.0% during the first quarter. Rooted Wealth Advisors Inc. now owns 1,866 shares of the computer hardware maker’s stock worth $499,000 after acquiring an additional 200 shares during the last quarter. MV Capital Management Inc. increased its stake in NVIDIA by 7.1% during the first quarter. MV Capital Management Inc. now owns 11,566 shares of the computer hardware maker’s stock worth $3,213,000 after acquiring an additional 769 shares during the last quarter. Tower Bridge Advisors increased its stake in NVIDIA by 3.3% during the first quarter. Tower Bridge Advisors now owns 23,098 shares of the computer hardware maker’s stock worth $6,416,000 after acquiring an additional 735 shares during the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV increased its stake in NVIDIA by 56.2% during the first quarter. Acorn Financial Advisory Services Inc. ADV now owns 6,742 shares of the computer hardware maker’s stock worth $1,873,000 after acquiring an additional 2,427 shares during the last quarter. Institutional investors and hedge funds own 64.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NVDA shares. Wedbush raised NVIDIA from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $290.00 to $490.00 in a research note on Thursday, May 25th. BNP Paribas raised NVIDIA from an “underperform” rating to a “neutral” rating and set a $230.00 target price for the company in a research note on Tuesday, March 21st. Truist Financial lifted their price objective on NVIDIA from $470.00 to $545.00 and gave the company a “buy” rating in a research note on Friday. Barclays lifted their price objective on NVIDIA from $275.00 to $500.00 in a research note on Thursday, May 25th. Finally, Bank of America lifted their price objective on NVIDIA from $450.00 to $500.00 in a research note on Wednesday, May 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $407.43.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Harvey C. Jones sold 119,795 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $403.17, for a total transaction of $48,297,750.15. Following the completion of the sale, the director now directly owns 676,396 shares of the company’s stock, valued at approximately $272,702,575.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Harvey C. Jones sold 119,795 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $403.17, for a total transaction of $48,297,750.15. Following the completion of the transaction, the director now directly owns 676,396 shares of the company’s stock, valued at approximately $272,702,575.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Debora Shoquist sold 23,084 shares of the 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 $42,657,300. 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 in the last ninety days. Insiders own 3.99% of the company’s stock.

NVIDIA Stock Down 1.1 %

Shares of NASDAQ NVDA opened at $454.69 on Friday. The stock 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. The company has a quick ratio of 2.79, a current ratio of 3.43 and a debt-to-equity ratio of 0.40. NVIDIA Co. has a 52-week low of $108.13 and a 52-week high of $480.88. The business has a 50-day moving average price of $382.95 and a 200 day moving average price of $282.29.

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, beating the consensus estimate of $0.92 by $0.17. The firm had revenue of $7.19 billion during 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 firm’s revenue was down 13.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.18 EPS. Equities research analysts forecast that NVIDIA Co. will post 6.33 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 8th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.04%. The ex-dividend date was Wednesday, June 7th. NVIDIA’s dividend payout ratio is presently 8.33%.

About NVIDIA

(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.