Welch Group LLC Sells 2,337 Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Oct 4th, 2023

Welch Group LLC trimmed its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 8.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,583 shares of the computer hardware maker’s stock after selling 2,337 shares during the period. Welch Group LLC’s holdings in NVIDIA were worth $10,399,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NVDA. United Bank lifted its stake in shares of NVIDIA by 28.9% during the 1st quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock worth $2,106,000 after acquiring an additional 1,730 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of NVIDIA by 6.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock worth $1,065,457,000 after acquiring an additional 249,045 shares during the last quarter. MAS Advisors LLC lifted its stake in shares of NVIDIA by 42.1% during the 1st quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock worth $545,000 after acquiring an additional 583 shares during the last quarter. Navis Wealth Advisors LLC lifted its stake in shares of NVIDIA by 205.3% during the 1st quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock worth $791,000 after acquiring an additional 1,950 shares during the last quarter. Finally, Ergoteles LLC bought a new stake in shares of NVIDIA during the 1st quarter worth approximately $929,000. 64.79% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 29,688 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were 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 owns 7,918,875 shares in the company, valued at $3,595,248,438.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Mark A. Stevens sold 21,500 shares of the firm’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 completion of the sale, the director now owns 1,030,786 shares in the company, valued at $482,490,310.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction that occurred 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 owns 7,918,875 shares of the company’s stock, valued at $3,595,248,438.75. The disclosure for this sale can be found here. Insiders have sold a total of 145,232 shares of company stock valued at $67,606,089 over the last quarter. 3.99% of the stock is currently owned by insiders.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $435.17 on Wednesday. The firm has a market capitalization of $1.07 trillion, a PE ratio of 105.11, a price-to-earnings-growth ratio of 3.40 and a beta of 1.76. The business’s fifty day moving average price is $449.79 and its 200 day moving average price is $382.85. 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 Co. has a 12 month low of $108.13 and a 12 month high of $502.66.

NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its quarterly earnings data on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share (EPS) 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 return on equity of 45.50% and a net margin of 31.59%. The business’s quarterly revenue was up 101.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 earnings per share. On average, sell-side analysts anticipate that NVIDIA Co. will post 9.46 earnings per share for the current fiscal 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 issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend was Wednesday, September 6th. NVIDIA’s dividend payout ratio is currently 3.86%.

Wall Street Analyst Weigh In

Several research firms have commented on NVDA. BNP Paribas upgraded NVIDIA from a “neutral” rating to an “outperform” rating and set a $745.00 price objective on the stock in a report on Thursday, August 24th. The Goldman Sachs Group upgraded NVIDIA from a “buy” rating to a “conviction-buy” rating in a report on Monday. Rosenblatt Securities restated a “buy” rating on shares of NVIDIA in a report on Wednesday, September 20th. Evercore ISI lifted their price target on NVIDIA to $600.00 in a report on Thursday, August 24th. Finally, Stifel Nicolaus upgraded NVIDIA from a “hold” rating to a “buy” rating and lifted their price target for the company from $440.00 to $600.00 in a report on Thursday, August 24th. One 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 given a strong buy rating to the stock. According to MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $558.95.

Check Out Our Latest Analysis on NVIDIA

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.