Smithbridge Asset Management Inc. DE Decreases Holdings in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Oct 2nd, 2023

Smithbridge Asset Management Inc. DE reduced its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 0.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 13,655 shares of the computer hardware maker’s stock after selling 50 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in NVIDIA were worth $1,996,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NVDA. Norges Bank bought a new position in shares of NVIDIA during the 4th quarter valued at approximately $3,900,874,000. Moneta Group Investment Advisors LLC lifted its stake in NVIDIA by 160,446.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock valued at $2,862,392,000 after purchasing an additional 19,574,443 shares during the last quarter. GQG Partners LLC bought a new position in NVIDIA during the first quarter valued at $2,290,856,000. Price T Rowe Associates Inc. MD increased its position in NVIDIA by 9.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock worth $8,323,694,000 after buying an additional 5,043,685 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of NVIDIA by 20.2% during the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after buying an additional 4,621,002 shares during the last quarter. Institutional investors own 64.79% of the company’s stock.

Insider Transactions at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $448.99, for a total transaction of $13,329,615.12. Following the transaction, the chief executive officer now directly owns 7,918,875 shares in the company, valued at approximately $3,555,495,686.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jen Hsun Huang sold 29,688 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $448.99, for a total value of $13,329,615.12. Following the completion of the sale, the chief executive officer now owns 7,918,875 shares of the company’s stock, valued at approximately $3,555,495,686.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 4,980 shares of the business’s 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 of the company’s stock, valued at approximately $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 company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NVDA shares. Mizuho upped their price objective on shares of NVIDIA from $530.00 to $590.00 and gave the company a “buy” rating in a report on Thursday, August 24th. Craig Hallum increased their target price on NVIDIA from $500.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, August 24th. Oppenheimer boosted their price objective on NVIDIA from $500.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday, August 24th. Barclays upped their price target on NVIDIA from $600.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, August 24th. Finally, Wolfe Research boosted their price objective on shares of NVIDIA from $570.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday, August 24th. One 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $555.70.

Check Out Our Latest Research Report on NVIDIA

NVIDIA Stock Performance

NVDA stock opened at $434.99 on Monday. The stock 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’s 50 day simple moving average is $450.19 and its 200 day simple moving average is $380.25. NVIDIA Co. has a 12-month low of $108.13 and a 12-month 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 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. The business had revenue of $13.51 billion during the quarter, compared to analysts’ expectations of $11.19 billion. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. During the same quarter last year, the business posted $0.32 EPS. The firm’s revenue for the quarter was up 101.5% compared to the same quarter last year. As a group, research analysts forecast that NVIDIA Co. will post 9.46 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 7th were issued a dividend of $0.04 per share. 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 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.