NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Salvus Wealth Management LLC

Posted by Defense World Staff on Sep 26th, 2023

Salvus Wealth Management LLC grew its position in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 3.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,603 shares of the computer hardware maker’s stock after purchasing an additional 46 shares during the period. Salvus Wealth Management LLC’s holdings in NVIDIA were worth $678,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NVDA. Contravisory Investment Management Inc. acquired a new position in NVIDIA during the 1st quarter worth approximately $28,000. Nordwand Advisors LLC acquired a new position in NVIDIA during the 1st quarter worth approximately $28,000. Graham Capital Wealth Management LLC acquired a new position in NVIDIA during the 1st quarter worth approximately $311,102,000. Quarry LP acquired a new position in NVIDIA during the 1st quarter worth approximately $34,000. Finally, 25 LLC purchased a new stake in NVIDIA during the 1st quarter worth approximately $46,000. 64.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NVDA has been the topic of several analyst reports. Jefferies Financial Group lifted their price objective on NVIDIA from $500.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. Phillip Securities upgraded NVIDIA from an “accumulate” rating to a “buy” rating in a report on Monday, August 28th. BMO Capital Markets lifted their price objective on NVIDIA from $450.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday, August 21st. Wells Fargo & Company lifted their price objective on NVIDIA from $500.00 to $600.00 and gave the stock an “overweight” rating in a report on Thursday, August 24th. Finally, Robert W. Baird lifted their price objective on NVIDIA from $570.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $555.70.

Read Our Latest Stock Report on NVDA

Insider Activity

In other news, Director Mark A. Stevens sold 21,500 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $468.08, for a total transaction 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 $482,490,310.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Mark A. Stevens sold 21,500 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $468.08, for a total transaction 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 $482,490,310.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 4,980 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $460.74, for a total value of $2,294,485.20. Following the sale, the chief financial officer now directly owns 499,428 shares of the company’s stock, valued at $230,106,456.72. The disclosure for this sale can be found here. Insiders sold a total of 145,232 shares of company stock valued at $67,606,089 over the last three months. Insiders own 3.99% of the company’s stock.

NVIDIA Trading Up 1.5 %

Shares of NVIDIA stock opened at $422.22 on Tuesday. The company has a quick ratio of 2.37, a current ratio of 2.79 and a debt-to-equity ratio of 0.31. The firm has a market cap of $1.04 trillion, a price-to-earnings ratio of 101.99, a price-to-earnings-growth ratio of 3.26 and a beta of 1.74. The business has a fifty day simple moving average of $452.88 and a 200-day simple moving average of $374.84. NVIDIA Co. has a fifty-two week low of $108.13 and a fifty-two week high of $502.66.

NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $13.51 billion during the quarter, compared to analyst estimates of $11.19 billion. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. The company’s revenue was up 101.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share. On average, equities analysts forecast that NVIDIA Co. will post 9.46 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

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.