CHURCHILL MANAGEMENT Corp Cuts Holdings in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Oct 2nd, 2023

CHURCHILL MANAGEMENT Corp decreased its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,417 shares of the computer hardware maker’s stock after selling 602 shares during the quarter. NVIDIA makes up 0.4% of CHURCHILL MANAGEMENT Corp’s investment portfolio, making the stock its 25th biggest holding. CHURCHILL MANAGEMENT Corp’s holdings in NVIDIA were worth $21,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in NVDA. David J Yvars Group grew 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 worth $3,252,000 after buying an additional 168 shares during the last quarter. Telos Capital Management Inc. grew its stake in NVIDIA by 48.1% during the 1st quarter. Telos Capital Management Inc. now owns 4,560 shares of the computer hardware maker’s stock worth $1,267,000 after buying an additional 1,482 shares during the last quarter. Personal Capital Advisors Corp grew its stake in NVIDIA by 29.9% during the 4th quarter. Personal Capital Advisors Corp now owns 622,700 shares of the computer hardware maker’s stock worth $91,001,000 after buying an additional 143,483 shares during the last quarter. Alta Wealth Advisors LLC grew its stake in NVIDIA by 14.9% during the 1st quarter. Alta Wealth Advisors LLC now owns 6,650 shares of the computer hardware maker’s stock worth $1,847,000 after buying an additional 863 shares during the last quarter. Finally, Inscription Capital LLC grew its stake in NVIDIA by 1.3% during the 1st quarter. Inscription Capital LLC now owns 9,643 shares of the computer hardware maker’s stock worth $2,679,000 after buying an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 64.79% of the company’s stock.

NVIDIA Stock Up 1.0 %

NASDAQ:NVDA opened at $434.99 on Monday. The firm has a market capitalization of $1.07 trillion, a PE ratio of 105.07, a price-to-earnings-growth ratio of 3.40 and a beta of 1.76. The stock has a 50 day moving average of $450.19 and a 200-day moving average of $380.25. NVIDIA Co. has a 52 week low of $108.13 and a 52 week high of $502.66. The company has a current ratio of 2.79, a quick ratio of 2.37 and a debt-to-equity ratio of 0.31.

NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 EPS for the quarter, beating the consensus estimate of $2.08 by $0.62. The company 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 business’s revenue was up 101.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 earnings per share. Analysts predict that NVIDIA Co. will post 9.46 EPS for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th were given 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 3.86%.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the company’s stock in a transaction that occurred 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 directly owns 7,918,875 shares in the company, valued at $3,595,248,438.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mark A. Stevens sold 21,500 shares of the 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 owns 1,030,786 shares in the company, valued at approximately $482,490,310.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 29,688 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $454.01, for a total transaction of $13,478,648.88. Following the sale, the chief executive officer now directly owns 7,918,875 shares in the company, valued at $3,595,248,438.75. The disclosure for this sale can be found here. Insiders sold 145,232 shares of company stock worth $67,606,089 over the last ninety days. Company insiders own 3.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NVDA. Deutsche Bank Aktiengesellschaft increased their price objective on NVIDIA from $440.00 to $560.00 and gave the stock a “hold” rating in a research report on Thursday, August 24th. Robert W. Baird increased their price objective on NVIDIA from $570.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, August 24th. Wedbush increased their price objective on NVIDIA from $490.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 24th. Mizuho increased their price objective on NVIDIA from $530.00 to $590.00 and gave the stock a “buy” rating in a research report on Thursday, August 24th. Finally, TD Cowen raised their price target on NVIDIA from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $555.70.

Check Out Our Latest Stock Report on NVDA

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.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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