HM Payson & Co. Has $19.67 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Oct 1st, 2023

HM Payson & Co. lowered its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 28.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,493 shares of the computer hardware maker’s stock after selling 18,856 shares during the period. HM Payson & Co.’s holdings in NVIDIA were worth $19,667,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NVDA. Contravisory Investment Management Inc. acquired a new stake in shares of NVIDIA in the first quarter valued at approximately $28,000. Nordwand Advisors LLC acquired a new stake in NVIDIA during the 1st quarter worth $28,000. Quarry LP acquired a new stake in NVIDIA during the 1st quarter worth $34,000. Financial Connections Group Inc. grew its holdings in NVIDIA by 605.7% during the 4th quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock worth $36,000 after acquiring an additional 212 shares during the period. Finally, Chelsea Counsel Co. acquired a new stake in NVIDIA during the 4th quarter worth $37,000. Institutional investors and hedge funds own 64.79% of the company’s stock.

Insider Activity at NVIDIA

In related 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 owns 499,428 shares in the company, valued at approximately $230,106,456.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $486.40, for a total transaction of $14,440,243.20. Following the transaction, the chief executive officer now owns 7,800,125 shares in the company, valued at approximately $3,793,980,800. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 4,980 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $460.74, for a total transaction of $2,294,485.20. Following the transaction, the chief financial officer now owns 499,428 shares in the company, valued at approximately $230,106,456.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,232 shares of company stock worth $67,606,089. Insiders own 3.99% of the company’s stock.

NVIDIA Stock Up 1.0 %

NVIDIA stock opened at $434.99 on Friday. The firm has a market capitalization of $1.07 trillion, a PE ratio of 105.07, a P/E/G ratio of 3.37 and a beta of 1.74. The company’s 50-day moving average is $450.19 and its 200-day moving average is $379.28. NVIDIA Co. has a fifty-two week low of $108.13 and a fifty-two week high of $502.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.37.

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

NVIDIA Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have commented on NVDA. Benchmark lifted their target price on shares of NVIDIA from $475.00 to $625.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. BNP Paribas raised shares of NVIDIA from a “neutral” rating to an “outperform” rating and set a $745.00 price target for the company in a report on Thursday, August 24th. BMO Capital Markets boosted their price target on shares of NVIDIA from $450.00 to $550.00 and gave the company an “outperform” rating in a report on Monday, August 21st. Tigress Financial boosted their price target on shares of NVIDIA from $320.00 to $560.00 in a report on Friday, July 7th. Finally, StockNews.com started coverage on shares of NVIDIA in a report on Thursday, August 17th. They issued a “hold” rating for the company. One investment 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $555.70.

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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.