Handelsinvest Investeringsforvaltning Sells 577 Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 18th, 2023

Handelsinvest Investeringsforvaltning cut its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 6.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,014 shares of the computer hardware maker’s stock after selling 577 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in NVIDIA were worth $2,504,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Contravisory Investment Management Inc. acquired a new position in shares of NVIDIA in the first quarter valued at about $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in shares of NVIDIA in the fourth quarter valued at about $34,000. Financial Connections Group Inc. grew its stake in shares of NVIDIA by 605.7% in the fourth quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock valued at $36,000 after acquiring an additional 212 shares in the last quarter. NewSquare Capital LLC acquired a new position in shares of NVIDIA in the fourth quarter valued at about $37,000. Finally, Chelsea Counsel Co. acquired a new position in shares of NVIDIA in the fourth quarter valued at about $37,000. 64.00% of the stock is owned by institutional investors.

NVIDIA Stock Performance

Shares of NVDA stock 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. NVIDIA Co. has a 52 week low of $108.13 and a 52 week high of $480.88. 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 firm has a 50 day moving average of $386.41 and a 200-day moving average of $285.53.

NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings data on Wednesday, May 24th. The computer hardware maker reported $1.09 EPS for the quarter, topping the consensus estimate of $0.92 by $0.17. The company 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.18 EPS. On average, equities analysts forecast that NVIDIA Co. will post 6.43 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 8th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, June 7th. NVIDIA’s dividend payout ratio (DPR) is 8.33%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NVDA shares. BMO Capital Markets upped their price target on shares of NVIDIA from $350.00 to $450.00 in a research note on Thursday, May 25th. HSBC upgraded shares of NVIDIA from a “reduce” rating to a “buy” rating and increased their price objective for the stock from $175.00 to $355.00 in a research note on Tuesday, April 18th. Stifel Nicolaus increased their price objective on shares of NVIDIA from $225.00 to $300.00 in a research note on Tuesday, May 23rd. Rosenblatt Securities reiterated a “buy” rating and set a $320.00 price objective on shares of NVIDIA in a research note on Wednesday, March 22nd. Finally, Credit Suisse Group set a $275.00 price objective on shares of NVIDIA in a research note on Wednesday, March 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $410.14.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 100,000 shares of NVIDIA stock in a transaction on 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 completion of the sale, the director now owns 3,397,136 shares of the company’s stock, valued at approximately $1,287,514,544. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Tench Coxe sold 100,000 shares of NVIDIA stock in a transaction on 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 completion of the sale, the director now owns 3,397,136 shares of the company’s stock, valued at approximately $1,287,514,544. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Debora Shoquist sold 23,084 shares of NVIDIA stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the completion of the sale, the executive vice president now directly owns 139,860 shares of the company’s stock, valued at approximately $42,657,300. The disclosure for this sale can be found here. In the last 90 days, insiders sold 368,271 shares of company stock valued at $147,115,953. 3.99% of the stock is owned by company insiders.

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.