Supplemental Annuity Collective Trust of NJ Sells 4,000 Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 17th, 2023

Supplemental Annuity Collective Trust of NJ cut its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 19.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,100 shares of the computer hardware maker’s stock after selling 4,000 shares during the quarter. NVIDIA makes up 1.9% of Supplemental Annuity Collective Trust of NJ’s portfolio, making the stock its 6th largest holding. Supplemental Annuity Collective Trust of NJ’s holdings in NVIDIA were worth $4,750,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Contravisory Investment Management Inc. acquired a new stake in NVIDIA in the first quarter worth about $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in shares of NVIDIA in the 4th quarter valued at approximately $34,000. Financial Connections Group Inc. grew its position in shares of NVIDIA by 605.7% in 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. Chelsea Counsel Co. bought a new stake in NVIDIA in the 4th quarter valued at approximately $37,000. Finally, NewSquare Capital LLC bought a new stake in NVIDIA in the 4th quarter valued at approximately $37,000. 64.00% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Harvey C. Jones sold 119,795 shares of the company’s stock in a transaction 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 owns 676,396 shares in the company, valued at $272,702,575.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other NVIDIA news, Director Harvey C. Jones sold 119,795 shares of the business’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $403.17, for a total value of $48,297,750.15. Following the transaction, the director now owns 676,396 shares of the company’s stock, valued at $272,702,575.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Debora Shoquist sold 23,084 shares of the business’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 transaction, the executive vice president now directly owns 139,860 shares in the company, valued at approximately $42,657,300. The disclosure for this sale can be found here. Insiders sold a total of 368,271 shares of company stock worth $147,115,953 over the last quarter. 3.99% of the stock is currently owned by corporate insiders.

NVIDIA Price Performance

Shares of NVDA opened at $454.69 on Monday. NVIDIA Co. has a 52-week low of $108.13 and a 52-week high of $480.88. 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 moving average price is $382.95 and its two-hundred day moving average price is $283.29. The firm has a market cap of $1.12 trillion, a PE ratio of 236.82, a price-to-earnings-growth ratio of 3.07 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 (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.17. The firm 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 company’s revenue was down 13.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.18 earnings per share. On average, equities analysts anticipate that NVIDIA Co. will post 6.43 EPS for the current 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 issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $0.16 annualized dividend and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio is 8.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Oppenheimer upped their price objective on NVIDIA from $350.00 to $420.00 in a research note on Thursday, May 25th. Rosenblatt Securities reaffirmed a “buy” rating and set a $320.00 price target on shares of NVIDIA in a report on Wednesday, March 22nd. Robert W. Baird upgraded NVIDIA from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $300.00 to $475.00 in a research report on Thursday, May 25th. TD Cowen increased their price objective on NVIDIA from $260.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 22nd. Finally, Stifel Nicolaus raised their price target on NVIDIA from $225.00 to $300.00 in a research report on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $407.43.

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.