Princeton Capital Management LLC Sells 1,667 Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 24th, 2023

Princeton Capital Management LLC trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 3.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,399 shares of the computer hardware maker’s stock after selling 1,667 shares during the period. NVIDIA makes up approximately 5.2% of Princeton Capital Management LLC’s investment portfolio, making the stock its 5th largest position. Princeton Capital Management LLC’s holdings in NVIDIA were worth $12,055,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of NVIDIA in the 4th quarter valued at approximately $3,900,874,000. Moneta Group Investment Advisors LLC boosted its stake in shares of NVIDIA by 160,446.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock valued at $2,862,392,000 after purchasing an additional 19,574,443 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of NVIDIA by 34.8% in the 4th quarter. Jennison Associates LLC now owns 23,299,291 shares of the computer hardware maker’s stock valued at $3,404,958,000 after purchasing an additional 6,013,647 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in NVIDIA by 9.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock valued at $8,323,694,000 after buying an additional 5,043,685 shares during the last quarter. Finally, Morgan Stanley raised its holdings in NVIDIA by 20.2% in the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after buying an additional 4,621,002 shares during the last quarter. 64.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In related news, Director John Dabiri sold 283 shares of the business’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $424.53, for a total value of $120,141.99. Following the sale, the director now directly owns 2,401 shares in the company, valued at approximately $1,019,296.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Mark A. Stevens sold 40,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 1,052,286 shares in the company, valued at $454,650,689.16. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director John Dabiri sold 283 shares of the company’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $424.53, for a total value of $120,141.99. Following the sale, the director now owns 2,401 shares in the company, valued at $1,019,296.53. The disclosure for this sale can be found here. In the last three months, insiders have sold 368,271 shares of company stock worth $147,115,953. Company insiders own 3.99% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the subject of a number of research reports. Craig Hallum upgraded shares of NVIDIA from a “hold” rating to a “buy” rating and set a $500.00 price objective for the company in a report on Thursday, May 25th. Daiwa Capital Markets upgraded shares of NVIDIA from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $408.00 to $475.00 in a report on Thursday, June 29th. Jefferies Financial Group raised their price target on shares of NVIDIA from $472.00 to $500.00 in a report on Tuesday, June 20th. UBS Group raised their price target on shares of NVIDIA from $315.00 to $475.00 in a report on Thursday, May 25th. Finally, Morgan Stanley raised their price target on shares of NVIDIA from $450.00 to $500.00 and gave the stock an “overweight” rating in a report on Friday, June 16th. One equities research 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, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $421.58.

NVIDIA Trading Down 2.7 %

NASDAQ NVDA opened at $443.09 on Monday. The stock has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 230.78, a PEG ratio of 5.11 and a beta of 1.74. NVIDIA Co. has a one year low of $108.13 and a one year high of $480.88. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.43 and a quick ratio of 2.79. The business’s fifty day moving average is $400.42 and its 200-day moving average is $294.41.

NVIDIA (NASDAQ:NVDA – Get Free Report) last released its earnings results 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. The company had revenue of $7.19 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the business posted $1.18 EPS. Equities research analysts predict that NVIDIA Co. will post 6.43 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders 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 0.04%. The ex-dividend date was Wednesday, June 7th. NVIDIA’s payout ratio is 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.