3,112 Shares in NVIDIA Co. (NASDAQ:NVDA) Bought by Stoneridge Investment Partners LLC

Posted by Defense World Staff on Jul 20th, 2023

Stoneridge Investment Partners LLC purchased a new position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,112 shares of the computer hardware maker’s stock, valued at approximately $864,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC boosted its position in NVIDIA by 1.8% during the 1st quarter. Opal Wealth Advisors LLC now owns 2,103 shares of the computer hardware maker’s stock worth $584,000 after purchasing an additional 37 shares during the period. Westhampton Capital LLC lifted its holdings in NVIDIA by 0.7% in the 1st quarter. Westhampton Capital LLC now owns 5,545 shares of the computer hardware maker’s stock worth $1,540,000 after buying an additional 40 shares in the last quarter. Naples Global Advisors LLC lifted its holdings in NVIDIA by 1.0% in the 1st quarter. Naples Global Advisors LLC now owns 4,309 shares of the computer hardware maker’s stock worth $1,197,000 after buying an additional 42 shares in the last quarter. Tradewinds Capital Management LLC lifted its holdings in NVIDIA by 15.8% in the 1st quarter. Tradewinds Capital Management LLC now owns 329 shares of the computer hardware maker’s stock worth $91,000 after buying an additional 45 shares in the last quarter. Finally, Northstar Asset Management LLC lifted its holdings in NVIDIA by 0.9% in the 1st quarter. Northstar Asset Management LLC now owns 5,225 shares of the computer hardware maker’s stock worth $1,451,000 after buying an additional 45 shares in the last quarter. 64.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NVDA shares. Wedbush upgraded shares of NVIDIA from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $290.00 to $490.00 in a report on Thursday, May 25th. Craig Hallum upgraded shares of NVIDIA from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a report on Thursday, May 25th. Oppenheimer boosted their price objective on shares of NVIDIA from $350.00 to $420.00 in a report on Thursday, May 25th. Citigroup upped their target price on shares of NVIDIA from $420.00 to $520.00 and gave the company a “buy” rating in a research note on Monday. Finally, 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $411.49.

Insider Activity

In other news, EVP Debora Shoquist sold 23,084 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were 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 $42,657,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Colette Kress sold 6,124 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $406.51, for a total transaction of $2,489,467.24. Following the completion of the sale, the chief financial officer now directly owns 538,745 shares in the company, valued at $219,005,229.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Debora Shoquist sold 23,084 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the sale, the executive vice president now 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 368,271 shares of company stock worth $147,115,953 over the last three months. Corporate insiders own 3.99% of the company’s stock.

NVIDIA Price Performance

NASDAQ NVDA opened at $470.77 on Thursday. The company has a 50-day moving average price of $393.84 and a two-hundred day moving average price of $289.12. The company has a current ratio of 3.43, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40. The stock has a market cap of $1.16 trillion, a price-to-earnings ratio of 245.19, a price-to-earnings-growth ratio of 3.14 and a beta of 1.74. NVIDIA Co. has a 52 week low of $108.13 and a 52 week high of $480.88.

NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its quarterly earnings data 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 business had revenue of $7.19 billion during the quarter, compared to analysts’ expectations of $6.52 billion. NVIDIA had a net margin of 18.52% and a return on equity of 23.63%. The business’s revenue was down 13.2% on a year-over-year basis. During the same period last year, the firm posted $1.18 earnings per share. Analysts forecast that NVIDIA Co. will post 6.43 EPS for the current year.

NVIDIA Dividend Announcement

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

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.