Zimmermann Investment Management & Planning LLC Grows Position in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Sep 25th, 2023

Zimmermann Investment Management & Planning LLC grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 0.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,331 shares of the computer hardware maker’s stock after buying an additional 52 shares during the quarter. NVIDIA accounts for 1.8% of Zimmermann Investment Management & Planning LLC’s portfolio, making the stock its 18th largest position. Zimmermann Investment Management & Planning LLC’s holdings in NVIDIA were worth $3,947,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NVDA. David J Yvars Group increased its stake in NVIDIA by 1.5% during the 1st quarter. David J Yvars Group now owns 11,708 shares of the computer hardware maker’s stock valued at $3,252,000 after buying an additional 168 shares during the period. Telos Capital Management Inc. increased its position in shares of NVIDIA by 48.1% in the first quarter. Telos Capital Management Inc. now owns 4,560 shares of the computer hardware maker’s stock worth $1,267,000 after acquiring an additional 1,482 shares in the last quarter. Personal Capital Advisors Corp increased its position in shares of NVIDIA by 29.9% in the fourth quarter. Personal Capital Advisors Corp now owns 622,700 shares of the computer hardware maker’s stock worth $91,001,000 after acquiring an additional 143,483 shares in the last quarter. Alta Wealth Advisors LLC increased its position in shares of NVIDIA by 14.9% in the first quarter. Alta Wealth Advisors LLC now owns 6,650 shares of the computer hardware maker’s stock worth $1,847,000 after acquiring an additional 863 shares in the last quarter. Finally, Inscription Capital LLC increased its position in shares of NVIDIA by 1.3% in the first quarter. Inscription Capital LLC now owns 9,643 shares of the computer hardware maker’s stock worth $2,679,000 after acquiring an additional 127 shares in the last quarter. 64.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Westpark Capital upgraded shares of NVIDIA from a “hold” rating to a “buy” rating and set a $690.00 price target for the company in a report on Thursday, August 24th. Susquehanna raised their price target on shares of NVIDIA from $575.00 to $600.00 and gave the stock a “positive” rating in a report on Thursday, August 24th. Wolfe Research raised their price target on shares of NVIDIA from $570.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, August 24th. TD Cowen raised their price target on shares of NVIDIA from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 24th. Finally, Wedbush raised their price target on shares of NVIDIA from $490.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 24th. One 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 issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $555.70.

View Our Latest Stock Analysis on NVDA

NVIDIA Trading Up 1.4 %

NASDAQ NVDA opened at $416.10 on Monday. 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 Co. has a twelve month low of $108.13 and a twelve month high of $502.66. The firm has a market capitalization of $1.03 trillion, a PE ratio of 100.51, a P/E/G ratio of 3.26 and a beta of 1.74. The stock’s 50 day moving average is $453.73 and its 200 day moving average is $372.60.

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, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $11.19 billion. During the same period in the previous year, the company posted $0.32 earnings per share. The firm’s revenue was up 101.5% on a year-over-year basis. Research analysts forecast that NVIDIA Co. will post 9.46 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the business’s 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 sale, the chief executive officer now directly owns 7,918,875 shares of the company’s stock, valued at $3,595,248,438.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the business’s 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 sale, the chief executive officer now directly owns 7,918,875 shares of the company’s stock, valued at $3,595,248,438.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Colette Kress sold 4,980 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $460.74, for a total value of $2,294,485.20. Following the completion of the sale, the chief financial officer now directly owns 499,428 shares in the company, valued at $230,106,456.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 145,232 shares of company stock valued at $67,606,089. 3.99% of the stock is currently owned by corporate insiders.

NVIDIA 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.