Tiedemann Advisors LLC Makes New $424,000 Investment in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Oct 8th, 2023

Tiedemann Advisors LLC bought a new position in NVIDIA Co. (NASDAQ:NVDA – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,002 shares of the computer hardware maker’s stock, valued at approximately $424,000.

A number of other large investors have also recently bought and sold shares of NVDA. Norges Bank bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $3,900,874,000. Moneta Group Investment Advisors LLC increased its stake in shares of NVIDIA by 160,446.3% during 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 acquiring an additional 19,574,443 shares during the period. GQG Partners LLC acquired a new position in shares of NVIDIA during the first quarter valued at approximately $2,290,856,000. Price T Rowe Associates Inc. MD increased its stake in shares of NVIDIA by 9.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock valued at $8,323,694,000 after acquiring an additional 5,043,685 shares during the period. Finally, Morgan Stanley increased its stake in shares of NVIDIA by 20.2% during the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after acquiring an additional 4,621,002 shares during the period. Institutional investors own 64.79% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Mizuho raised their price objective on shares of NVIDIA from $530.00 to $590.00 and gave the company a “buy” rating in a research note on Thursday, August 24th. Wolfe Research raised 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. Argus raised their price objective on shares of NVIDIA from $450.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, August 24th. Bank of America lifted their price target on shares of NVIDIA from $550.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, August 24th. Finally, Craig Hallum lifted their price target on shares of NVIDIA from $500.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $558.95.

View Our Latest Report on NVDA

NVIDIA Stock Up 2.4 %

NVDA stock opened at $457.62 on Friday. 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 Co. has a 1 year low of $108.13 and a 1 year high of $502.66. The company has a fifty day simple moving average of $449.07 and a 200 day simple moving average of $385.94. The firm has a market cap of $1.13 trillion, a PE ratio of 110.54, a PEG ratio of 3.47 and a beta of 1.76.

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 (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.62. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The business had revenue of $13.51 billion during the quarter, compared to analyst estimates of $11.19 billion. During the same quarter in the previous year, the business earned $0.32 EPS. NVIDIA’s quarterly revenue was up 101.5% compared to the same quarter last year. Sell-side analysts anticipate that NVIDIA Co. will post 9.54 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 7th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, September 6th. NVIDIA’s payout ratio is presently 3.86%.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $471.55, for a total value of $13,999,376.40. Following the completion of the sale, the chief executive officer now owns 7,800,125 shares of the company’s stock, valued at approximately $3,678,148,943.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $471.55, for a total transaction of $13,999,376.40. Following the completion of the transaction, the chief executive officer now owns 7,800,125 shares of the company’s stock, valued at approximately $3,678,148,943.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 4,980 shares of the business’s stock in a transaction 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 directly 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. In the last 90 days, insiders sold 145,232 shares of company stock valued at $67,606,089. Insiders own 3.99% of the company’s stock.

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.