NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Phoenix Wealth Advisors

Posted by Defense World Staff on Sep 24th, 2023

Phoenix Wealth Advisors lowered its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,356 shares of the computer hardware maker’s stock after selling 64 shares during the period. Phoenix Wealth Advisors’ holdings in NVIDIA were worth $574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. United Bank raised its position in shares of NVIDIA by 28.9% during the 1st quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock worth $2,106,000 after acquiring an additional 1,730 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of NVIDIA by 6.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock worth $1,065,457,000 after acquiring an additional 249,045 shares in the last quarter. MAS Advisors LLC raised its position in shares of NVIDIA by 42.1% during the 1st quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock worth $545,000 after acquiring an additional 583 shares in the last quarter. Navis Wealth Advisors LLC raised its position in shares of NVIDIA by 205.3% during the 1st quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock worth $791,000 after acquiring an additional 1,950 shares in the last quarter. Finally, Ergoteles LLC acquired a new stake in shares of NVIDIA during the 1st quarter worth about $929,000. Institutional investors and hedge funds own 64.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Craig Hallum raised their price target on NVIDIA from $500.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. Tigress Financial raised their price target on NVIDIA from $320.00 to $560.00 in a research note on Friday, July 7th. KeyCorp raised their price target on NVIDIA from $550.00 to $620.00 and gave the stock an “overweight” rating in a research note on Monday, August 21st. HSBC raised their price target on NVIDIA from $600.00 to $780.00 and gave the stock a “buy” rating in a research note on Monday, August 21st. Finally, UBS Group raised their price target on NVIDIA from $540.00 to $560.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $555.70.

Check Out Our Latest Stock Report on NVDA

NVIDIA Stock Performance

NASDAQ NVDA opened at $416.10 on Friday. NVIDIA Co. has a fifty-two week low of $108.13 and a fifty-two week high of $502.66. The stock has a market cap of $1.03 trillion, a price-to-earnings ratio of 100.51, a price-to-earnings-growth ratio of 3.21 and a beta of 1.74. The business has a fifty day moving average of $453.73 and a 200-day moving average of $371.63. The company has a quick ratio of 2.37, a current ratio of 2.79 and a debt-to-equity ratio of 0.31.

NVIDIA (NASDAQ:NVDA – Get Free Report) last released its quarterly earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.62. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. The company had revenue of $13.51 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same period in the previous year, the firm posted $0.32 earnings per share. The business’s revenue for the quarter was up 101.5% compared to the same quarter last year. As a group, analysts predict that NVIDIA Co. will post 9.46 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 7th will be issued a $0.04 dividend. The ex-dividend date is Wednesday, September 6th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is 3.86%.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $454.01, for a total value of $13,478,648.88. Following the completion of the sale, the chief executive officer now owns 7,918,875 shares of the company’s stock, valued at $3,595,248,438.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $454.01, for a total value of $13,478,648.88. Following the completion of the sale, the chief executive officer now owns 7,918,875 shares of the company’s stock, valued at $3,595,248,438.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 21,500 shares of NVIDIA stock in a transaction on Monday, August 28th. The shares were sold at an average price of $468.08, for a total value of $10,063,720.00. Following the completion of the sale, the director now directly owns 1,030,786 shares of the company’s stock, valued at approximately $482,490,310.88. The disclosure for this sale can be found here. Insiders sold a total of 145,515 shares of company stock valued at $67,726,231 over the last three months. 3.99% of the stock is currently 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.