Sunflower Bank N.A. Sells 240 Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 18th, 2023

Sunflower Bank N.A. lessened its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 9.8% during the first quarter, HoldingsChannel reports. The firm owned 2,197 shares of the computer hardware maker’s stock after selling 240 shares during the period. Sunflower Bank N.A.’s holdings in NVIDIA were worth $610,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Breakwater Capital Group raised its holdings in shares of NVIDIA by 19.3% in the 1st quarter. Breakwater Capital Group now owns 1,864 shares of the computer hardware maker’s stock worth $518,000 after purchasing an additional 302 shares during the period. Massachusetts Wealth Management raised its holdings in NVIDIA by 2.8% during the 1st quarter. Massachusetts Wealth Management now owns 1,815 shares of the computer hardware maker’s stock valued at $504,000 after acquiring an additional 50 shares during the period. Jessup Wealth Management Inc raised its holdings in NVIDIA by 0.5% during the 1st quarter. Jessup Wealth Management Inc now owns 31,279 shares of the computer hardware maker’s stock valued at $8,688,000 after acquiring an additional 168 shares during the period. Benedetti & Gucer Inc. raised its holdings in NVIDIA by 24.6% during the 1st quarter. Benedetti & Gucer Inc. now owns 10,670 shares of the computer hardware maker’s stock valued at $2,964,000 after acquiring an additional 2,108 shares during the period. Finally, CVA Family Office LLC raised its holdings in NVIDIA by 15.2% during the 1st quarter. CVA Family Office LLC now owns 4,399 shares of the computer hardware maker’s stock valued at $1,222,000 after acquiring an additional 581 shares during the period. Institutional investors own 64.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NVDA shares. Wedbush raised shares of NVIDIA from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $290.00 to $490.00 in a report on Thursday, May 25th. Rosenblatt Securities reissued a “buy” rating and set a $320.00 target price on shares of NVIDIA in a report on Wednesday, March 22nd. Evercore ISI boosted their price target on shares of NVIDIA from $320.00 to $500.00 in a research report on Thursday, May 25th. TD Cowen boosted their price target on shares of NVIDIA from $260.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, March 22nd. Finally, Sanford C. Bernstein boosted their price target on shares of NVIDIA from $300.00 to $475.00 in a research report on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $410.14.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $464.61 on Tuesday. The company has a market cap of $1.15 trillion, a price-to-earnings ratio of 241.99, a price-to-earnings-growth ratio of 3.07 and a beta of 1.74. The company has a 50-day moving average price of $386.41 and a 200-day moving average price of $285.53. The company has a current ratio of 3.43, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40. NVIDIA Co. has a 12 month low of $108.13 and a 12 month 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 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 net margin of 18.52% and a return on equity of 23.63%. The company’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.18 earnings per share. As a group, equities analysts anticipate that NVIDIA Co. will post 6.43 EPS for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 8th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Wednesday, June 7th. NVIDIA’s payout ratio is currently 8.33%.

Insider Buying and Selling

In related news, Director John Dabiri sold 283 shares of the stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $424.53, for a total value of $120,141.99. Following the completion of the transaction, 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 legal filing with the SEC, which is available through this link. In related news, Director Mark A. Stevens sold 40,000 shares of the stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $432.06, for a total value of $17,282,400.00. Following the completion of the transaction, the director now directly owns 1,052,286 shares of the company’s stock, valued at $454,650,689.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Dabiri sold 283 shares of the company’s 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 completion of the sale, the director now owns 2,401 shares in the company, valued at approximately $1,019,296.53. 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 over the last three months. Corporate insiders own 3.99% of the company’s stock.

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.