PAX Financial Group LLC Raises Holdings in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Oct 4th, 2023

PAX Financial Group LLC boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 4.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,156 shares of the computer hardware maker’s stock after acquiring an additional 50 shares during the quarter. PAX Financial Group LLC’s holdings in NVIDIA were worth $489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. David J Yvars Group lifted its holdings in NVIDIA by 1.5% in 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 period. Telos Capital Management Inc. raised its position in shares of NVIDIA by 48.1% in the 1st quarter. Telos Capital Management Inc. now owns 4,560 shares of the computer hardware maker’s stock worth $1,267,000 after acquiring an additional 1,482 shares in the last quarter. Personal Capital Advisors Corp raised its position in shares of NVIDIA by 29.9% in the 4th quarter. Personal Capital Advisors Corp now owns 622,700 shares of the computer hardware maker’s stock worth $91,001,000 after acquiring an additional 143,483 shares in the last quarter. Alta Wealth Advisors LLC raised its position in shares of NVIDIA by 14.9% in the 1st quarter. Alta Wealth Advisors LLC now owns 6,650 shares of the computer hardware maker’s stock worth $1,847,000 after acquiring an additional 863 shares in the last quarter. Finally, Inscription Capital LLC raised its position in shares of NVIDIA by 1.3% in the 1st quarter. Inscription Capital LLC now owns 9,643 shares of the computer hardware maker’s stock worth $2,679,000 after acquiring an additional 127 shares in the last quarter. 64.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 29,688 shares of the 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 sale, the chief executive officer now directly owns 7,918,875 shares in the company, valued at $3,555,495,686.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jen Hsun Huang sold 29,688 shares of the firm’s stock in a transaction 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 transaction, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Colette Kress sold 4,980 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $460.74, for a total transaction of $2,294,485.20. Following the completion of the transaction, the chief financial officer now directly owns 499,428 shares in the company, valued at approximately $230,106,456.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 145,232 shares of company stock valued at $67,606,089. Corporate insiders own 3.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. TD Cowen increased their target price on NVIDIA from $500.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 24th. Wedbush increased their target price on NVIDIA from $490.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 24th. Argus increased their target price on NVIDIA from $450.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, August 24th. Deutsche Bank Aktiengesellschaft raised their price objective on NVIDIA from $440.00 to $560.00 and gave the company a “hold” rating in a research report on Thursday, August 24th. Finally, Oppenheimer raised their price objective on NVIDIA from $500.00 to $650.00 and gave the company an “outperform” rating in a research report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $558.95.

Read Our Latest Stock Report on NVDA

NVIDIA Stock Down 2.8 %

NVDA stock opened at $435.17 on Wednesday. The firm has a market cap of $1.07 trillion, a PE ratio of 105.11, a PEG ratio of 3.40 and a beta of 1.76. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.37 and a current ratio of 2.79. NVIDIA Co. has a one year low of $108.13 and a one year high of $502.66. The firm’s 50 day moving average price is $449.79 and its 200-day moving average price is $382.85.

NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 EPS for the quarter, topping 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 firm had revenue of $13.51 billion during the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter in the previous year, the firm posted $0.32 earnings per share. The company’s revenue was up 101.5% compared to the same quarter last year. On average, equities research analysts anticipate that NVIDIA Co. will post 9.46 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently declared 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 was Wednesday, September 6th. This represents a $0.16 annualized dividend and a yield of 0.04%. NVIDIA’s dividend payout ratio is currently 3.86%.

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.