Capital Investment Counsel Inc Has $17.72 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 18th, 2023

Capital Investment Counsel Inc lowered its holdings in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 3.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,789 shares of the computer hardware maker’s stock after selling 2,119 shares during the quarter. NVIDIA comprises about 4.0% of Capital Investment Counsel Inc’s investment portfolio, making the stock its 3rd biggest position. Capital Investment Counsel Inc’s holdings in NVIDIA were worth $17,719,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of NVDA. Contravisory Investment Management Inc. bought a new stake in shares of NVIDIA during the 1st quarter worth $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in NVIDIA during the 4th quarter worth $34,000. Financial Connections Group Inc. boosted its holdings in NVIDIA by 605.7% during 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 during the period. Chelsea Counsel Co. acquired a new stake in shares of NVIDIA in the fourth quarter valued at about $37,000. Finally, NewSquare Capital LLC bought a new position in shares of NVIDIA in the fourth quarter worth about $37,000. Institutional investors and hedge funds own 64.00% of the company’s stock.

Insiders Place Their Bets

In related news, Director John Dabiri sold 283 shares of NVIDIA stock in a transaction on 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 directly owns 2,401 shares of the company’s stock, valued at $1,019,296.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director John Dabiri sold 283 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $424.53, for a total transaction of $120,141.99. Following the completion of the transaction, the director now owns 2,401 shares in the company, valued at $1,019,296.53. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 40,000 shares of the stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $432.06, for a total transaction of $17,282,400.00. Following the completion of the sale, the director now owns 1,052,286 shares in the company, valued at $454,650,689.16. 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. Company insiders own 3.99% of the company’s stock.

NVIDIA Stock Up 2.2 %

NASDAQ NVDA opened at $464.61 on Tuesday. The stock has a market capitalization of $1.15 trillion, a P/E 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 debt-to-equity ratio of 0.40, a quick ratio of 2.79 and a current ratio of 3.43. The stock has a fifty 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 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 analyst estimates of $6.52 billion. During the same period last year, the company earned $1.18 earnings per share. The company’s revenue was down 13.2% on a year-over-year basis. On average, equities research analysts forecast that NVIDIA Co. will post 6.43 EPS for the current year.

NVIDIA Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Piper Sandler raised their target price on NVIDIA from $440.00 to $450.00 in a report on Thursday, June 29th. Wedbush upgraded shares of NVIDIA from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $290.00 to $490.00 in a research note on Thursday, May 25th. Daiwa Capital Markets upgraded shares of NVIDIA from a “neutral” rating to an “outperform” rating and upped their target price for the company from $408.00 to $475.00 in a research note on Thursday, June 29th. Citigroup raised their price target on shares of NVIDIA from $420.00 to $520.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Westpark Capital began coverage on shares of NVIDIA in a research report on Wednesday, March 22nd. They set a “hold” rating for the company. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $410.14.

NVIDIA 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.