NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Ninety One UK Ltd

Posted by Defense World Staff on Jul 20th, 2023

Ninety One UK Ltd cut its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 6.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,450,128 shares of the computer hardware maker’s stock after selling 178,070 shares during the quarter. NVIDIA makes up approximately 2.1% of Ninety One UK Ltd’s portfolio, making the stock its 12th biggest position. Ninety One UK Ltd owned 0.10% of NVIDIA worth $680,572,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. David J Yvars Group boosted its holdings in NVIDIA by 1.5% in the first quarter. David J Yvars Group now owns 11,708 shares of the computer hardware maker’s stock valued at $3,252,000 after purchasing an additional 168 shares in the last quarter. Personal Capital Advisors Corp boosted its holdings in NVIDIA by 29.9% in the fourth quarter. Personal Capital Advisors Corp now owns 622,700 shares of the computer hardware maker’s stock valued at $91,001,000 after purchasing an additional 143,483 shares in the last quarter. Alta Wealth Advisors LLC boosted its holdings in NVIDIA by 14.9% in the first quarter. Alta Wealth Advisors LLC now owns 6,650 shares of the computer hardware maker’s stock valued at $1,847,000 after purchasing an additional 863 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in NVIDIA by 2.4% in the first quarter. Linden Thomas Advisory Services LLC now owns 14,601 shares of the computer hardware maker’s stock valued at $4,056,000 after purchasing an additional 342 shares in the last quarter. Finally, Avala Global LP acquired a new position in NVIDIA in the fourth quarter valued at approximately $16,455,000. 64.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In related news, Director Harvey C. Jones sold 119,795 shares of the stock in a transaction dated 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 transaction, the director now directly owns 676,396 shares in the company, valued at $272,702,575.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director John Dabiri sold 283 shares of the 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 transaction, the director now directly owns 2,401 shares in the company, valued at $1,019,296.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harvey C. Jones sold 119,795 shares of the stock in a transaction dated 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 in the company, valued at $272,702,575.32. The disclosure for this sale can be found here. Insiders have sold a total of 368,271 shares of company stock valued at $147,115,953 over the last quarter. Insiders own 3.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on NVDA. Jefferies Financial Group upped their price target on NVIDIA from $472.00 to $500.00 in a report on Tuesday, June 20th. Needham & Company LLC boosted their price objective on NVIDIA from $300.00 to $460.00 in a research note on Thursday, May 25th. Rosenblatt Securities reiterated a “buy” rating and issued a $320.00 price objective on shares of NVIDIA in a research note on Wednesday, March 22nd. TD Cowen boosted their price objective on NVIDIA from $260.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, March 22nd. Finally, Robert W. Baird upgraded NVIDIA from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $300.00 to $475.00 in a research note on Thursday, May 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $411.49.

NVIDIA Stock Down 0.9 %

NVIDIA stock opened at $470.77 on Thursday. 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 firm has a market capitalization 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 fifty-two week low of $108.13 and a fifty-two week high of $480.88. The stock’s fifty day moving average is $393.84 and its two-hundred day moving average is $289.12.

NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its quarterly earnings data on Wednesday, May 24th. The computer hardware maker reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.17. The business 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 business’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.18 earnings per share. Analysts predict that NVIDIA Co. will post 6.43 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

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.