Luts & Greenleigh Group Inc. Purchases 112 Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Oct 1st, 2023

Luts & Greenleigh Group Inc. lifted its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 14.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 863 shares of the computer hardware maker’s stock after acquiring an additional 112 shares during the quarter. Luts & Greenleigh Group Inc.’s holdings in NVIDIA were worth $365,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Warren Street Wealth Advisors LLC grew its stake in shares of NVIDIA by 7.9% in the second quarter. Warren Street Wealth Advisors LLC now owns 2,506 shares of the computer hardware maker’s stock worth $1,060,000 after acquiring an additional 184 shares during the period. Connective Portfolio Management LLC grew its stake in shares of NVIDIA by 23.2% in the second quarter. Connective Portfolio Management LLC now owns 6,400 shares of the computer hardware maker’s stock worth $2,711,000 after acquiring an additional 1,205 shares during the period. Bluesphere Advisors LLC grew its stake in shares of NVIDIA by 19.3% in the second quarter. Bluesphere Advisors LLC now owns 1,945 shares of the computer hardware maker’s stock worth $823,000 after acquiring an additional 315 shares during the period. New Mexico Educational Retirement Board grew its stake in shares of NVIDIA by 3.7% in the second quarter. New Mexico Educational Retirement Board now owns 119,528 shares of the computer hardware maker’s stock worth $50,563,000 after acquiring an additional 4,300 shares during the period. Finally, SNS Financial Group LLC bought a new stake in NVIDIA during the second quarter valued at approximately $230,000. 64.79% of the stock is currently owned by institutional investors.

NVIDIA Trading Up 1.0 %

NVDA stock opened at $434.99 on Friday. 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 stock has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 105.07, a price-to-earnings-growth ratio of 3.37 and a beta of 1.74. The firm’s fifty day simple moving average is $450.19 and its two-hundred day simple moving average is $379.28.

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

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date was Wednesday, September 6th. NVIDIA’s dividend payout ratio (DPR) is 3.86%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NVDA. Robert W. Baird boosted their target price on shares of NVIDIA from $570.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, August 24th. Wedbush boosted their target price on shares of NVIDIA from $490.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, August 24th. Tigress Financial boosted their target price on shares of NVIDIA from $320.00 to $560.00 in a research report on Friday, July 7th. Barclays lifted their price target on shares of NVIDIA from $600.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, August 24th. Finally, Susquehanna lifted their price target on shares of NVIDIA from $575.00 to $600.00 and gave the company a “positive” rating in a report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $555.70.

Get Our Latest Stock Analysis on NVIDIA

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 21,500 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 1,030,786 shares in the company, valued at $482,490,310.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Colette Kress sold 4,980 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 499,428 shares in the company, valued at $230,106,456.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 21,500 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 1,030,786 shares in the company, valued at $482,490,310.88. The disclosure for this sale can be found here. Insiders have sold 145,232 shares of company stock worth $67,606,089 over the last quarter. Insiders own 3.99% of the company’s stock.

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.