Callahan Advisors LLC Makes New Investment in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 21st, 2023

Callahan Advisors LLC purchased a new position in NVIDIA Co. (NASDAQ:NVDA – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,434 shares of the computer hardware maker’s stock, valued at approximately $398,000.

Several other hedge funds have also recently added to or reduced their stakes in NVDA. Contravisory Investment Management Inc. purchased a new position in NVIDIA during the 1st quarter worth approximately $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in NVIDIA during the 4th quarter valued at about $34,000. Financial Connections Group Inc. grew its stake in NVIDIA by 605.7% during the 4th 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. Chelsea Counsel Co. purchased a new position in NVIDIA during the 4th quarter valued at about $37,000. Finally, NewSquare Capital LLC purchased a new position in NVIDIA during the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 64.00% of the company’s stock.

Insider Activity at NVIDIA

In related news, EVP Debora Shoquist sold 23,084 shares of NVIDIA stock in a transaction dated 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 transaction, the executive vice president now directly owns 139,860 shares of the company’s stock, valued at approximately $42,657,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other NVIDIA news, Director Tench Coxe sold 100,000 shares of NVIDIA stock in a transaction on Friday, May 26th. The stock was sold at an average price of $379.00, for a total value of $37,900,000.00. Following the completion of the transaction, the director now owns 3,397,136 shares in the company, valued at approximately $1,287,514,544. The sale was disclosed in a filing with the SEC, which is available at 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 value of $7,040,620.00. Following the completion of the transaction, the executive vice president now owns 139,860 shares of the company’s stock, valued at approximately $42,657,300. The disclosure for this sale can be found here. Insiders sold 368,271 shares of company stock valued at $147,115,953 in the last ninety days. Insiders own 3.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NVDA. JPMorgan Chase & Co. boosted their price target on shares of NVIDIA from $250.00 to $500.00 in a report on Thursday, May 25th. The Goldman Sachs Group boosted their price target on shares of NVIDIA from $440.00 to $495.00 in a report on Monday, July 10th. Jefferies Financial Group boosted their price target on NVIDIA from $472.00 to $500.00 in a research note on Tuesday, June 20th. Sanford C. Bernstein boosted their price target on NVIDIA from $300.00 to $475.00 in a research note on Thursday, May 25th. Finally, Wolfe Research began coverage on NVIDIA in a research note on Wednesday. They issued an “outperform” rating and a $570.00 price target for the company. One 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $421.58.

NVIDIA Price Performance

NASDAQ:NVDA opened at $455.20 on Friday. The company has a 50-day moving average of $397.23 and a 200-day moving average of $290.28. The company has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 237.08, a PEG 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. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.79 and a current ratio of 3.43.

NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its earnings results 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 business had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $6.52 billion. NVIDIA had a return on equity of 23.63% and a net margin of 18.52%. NVIDIA’s revenue was down 13.2% on a year-over-year basis. During the same quarter last year, the company earned $1.18 EPS. As a group, equities research analysts anticipate that NVIDIA Co. will post 6.43 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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