SageView Advisory Group LLC Has $1.09 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Posted by on Jul 24th, 2023

SageView Advisory Group LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 23.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,925 shares of the computer hardware maker’s stock after purchasing an additional 755 shares during the period. SageView Advisory Group LLC’s holdings in NVIDIA were worth $1,090,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Contravisory Investment Management Inc. acquired a new position in NVIDIA in the 1st quarter valued at approximately $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in shares of NVIDIA in the fourth quarter worth $34,000. Financial Connections Group Inc. increased its holdings in 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 purchasing an additional 212 shares during the period. NewSquare Capital LLC bought a new position in NVIDIA during the 4th quarter worth $37,000. Finally, Chelsea Counsel Co. acquired a new position in NVIDIA during the 4th quarter worth about $37,000. 64.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NVDA shares. Piper Sandler raised their price objective on NVIDIA from $440.00 to $450.00 in a research report on Thursday, June 29th. Truist Financial raised their price target on shares of NVIDIA from $470.00 to $545.00 and gave the stock a “buy” rating in a report on Friday, July 14th. Wedbush raised shares of NVIDIA from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $290.00 to $490.00 in a research note on Thursday, May 25th. Mizuho lifted their target price on shares of NVIDIA from $290.00 to $400.00 in a research note on Thursday, May 25th. Finally, BMO Capital Markets upped their price target on shares of NVIDIA from $350.00 to $450.00 in a research report on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $421.58.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 6,124 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 538,745 shares of the company’s stock, valued at approximately $219,005,229.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director John Dabiri sold 283 shares of the company’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 sale, the director now owns 2,401 shares of the company’s stock, valued at approximately $1,019,296.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Colette Kress sold 6,124 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 538,745 shares of the company’s stock, valued at $219,005,229.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 368,271 shares of company stock worth $147,115,953. 3.99% of the stock is owned by corporate insiders.

NVIDIA Stock Down 2.7 %

NVIDIA stock opened at $443.09 on Monday. 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 company has a market capitalization of $1.09 trillion, a P/E ratio of 230.78, a P/E/G ratio of 5.11 and a beta of 1.74. The firm has a 50 day moving average price of $400.42 and a 200-day moving average price of $294.41. NVIDIA Co. has a twelve month low of $108.13 and a twelve month high of $480.88.

NVIDIA (NASDAQ:NVDA – Get Free Report) last released its earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. The business’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same period last year, the business posted $1.18 earnings per share. As a group, equities analysts predict that NVIDIA Co. will post 6.43 EPS for the current year.

NVIDIA Announces Dividend

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

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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