NewSquare Capital LLC Grows Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 24th, 2023

NewSquare Capital LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 95.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 490 shares of the computer hardware maker’s stock after buying an additional 239 shares during the period. NewSquare Capital LLC’s holdings in NVIDIA were worth $136,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in NVIDIA in the 4th quarter valued at about $3,900,874,000. Moneta Group Investment Advisors LLC lifted its holdings in 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 lifted its holdings in 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 lifted 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 purchasing an additional 5,043,685 shares in the last quarter. Finally, Morgan Stanley lifted 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 purchasing an additional 4,621,002 shares in the last quarter. 64.00% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Down 2.7 %

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

NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings data on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.17. NVIDIA had a return on equity of 23.63% and a net margin of 18.52%. The firm had revenue of $7.19 billion for the quarter, compared to analysts’ expectations of $6.52 billion. During the same period last year, the business posted $1.18 earnings per share. The firm’s revenue for the quarter was down 13.2% on a year-over-year basis. On average, equities research analysts predict that NVIDIA Co. will post 6.43 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company 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 annualized dividend and a yield of 0.04%. The ex-dividend date was Wednesday, June 7th. NVIDIA’s dividend payout ratio (DPR) is presently 8.33%.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of recent research reports. Bank of America upped their target price on shares of NVIDIA from $500.00 to $550.00 in a report on Tuesday, July 18th. Truist Financial increased their price objective on shares of NVIDIA from $470.00 to $545.00 and gave the stock a “buy” rating in a report on Friday, July 14th. JPMorgan Chase & Co. increased their price objective on shares of NVIDIA from $250.00 to $500.00 in a report on Thursday, May 25th. UBS Group increased their price objective on shares of NVIDIA from $315.00 to $475.00 in a report on Thursday, May 25th. Finally, Wedbush upgraded shares of NVIDIA from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $290.00 to $490.00 in a report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $421.58.

Insider Buying and Selling

In related news, CFO Colette Kress sold 6,124 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $406.51, for a total transaction of $2,489,467.24. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $305.00, for a total value of $7,040,620.00. Following the sale, the executive vice president now directly owns 139,860 shares in the company, valued at $42,657,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $2,489,467.24. Following the completion of the sale, the chief financial officer now owns 538,745 shares in the company, valued at $219,005,229.95. The disclosure for this sale can be found here. Insiders have sold 368,271 shares of company stock worth $147,115,953 over the last ninety days. 3.99% of the stock is owned by insiders.

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.