Sigma Investment Counselors Inc. Sells 970 Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Oct 11th, 2023

Sigma Investment Counselors Inc. lessened its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 3.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,878 shares of the computer hardware maker’s stock after selling 970 shares during the period. NVIDIA comprises approximately 0.8% of Sigma Investment Counselors Inc.’s holdings, making the stock its 29th biggest position. Sigma Investment Counselors Inc.’s holdings in NVIDIA were worth $10,524,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich raised its stake in NVIDIA by 84,165.9% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,389,779,605 shares of the computer hardware maker’s stock worth $587,904,569,000 after acquiring an additional 1,388,130,327 shares during the period. Geode Capital Management LLC raised its stake in NVIDIA by 0.6% during the 1st quarter. Geode Capital Management LLC now owns 46,056,013 shares of the computer hardware maker’s stock worth $12,763,663,000 after acquiring an additional 267,061 shares during the period. Morgan Stanley raised its position 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 buying an additional 4,621,002 shares during the last quarter. Norges Bank bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $3,900,874,000. Finally, Bank of New York Mellon Corp raised its position in shares of NVIDIA by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 21,702,416 shares of the computer hardware maker’s stock valued at $6,028,280,000 after buying an additional 322,662 shares during the last quarter. Institutional investors own 64.79% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 21,500 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the transaction, the director now owns 1,030,786 shares in the company, valued at $482,490,310.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Colette Kress sold 4,980 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 499,428 shares in the company, valued at $230,106,456.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 21,500 shares of the stock in a transaction that occurred 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 transaction, the director now owns 1,030,786 shares in the company, valued at approximately $482,490,310.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,232 shares of company stock valued at $67,606,089. 3.99% of the stock is currently owned by insiders.

NVIDIA Stock Up 1.2 %

NASDAQ:NVDA opened at $457.98 on Wednesday. NVIDIA Co. has a 1-year low of $108.13 and a 1-year high of $502.66. The company has a 50-day moving average of $448.64 and a 200 day moving average of $389.41. The firm has a market cap of $1.13 trillion, a PE ratio of 110.62, a price-to-earnings-growth ratio of 3.55 and a beta of 1.76. 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 (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 for the quarter, topping analysts’ consensus estimates 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 net margin of 31.59% and a return on equity of 45.50%. The firm’s revenue for the quarter was up 101.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. As a group, research analysts anticipate that NVIDIA Co. will post 9.54 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th were given a dividend of $0.04 per share. 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 3.86%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of NVIDIA from $600.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, August 24th. BNP Paribas upgraded shares of NVIDIA from a “neutral” rating to an “outperform” rating and set a $745.00 price objective on the stock in a research report on Thursday, August 24th. Argus lifted their price objective on shares of NVIDIA from $450.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday, August 24th. JPMorgan Chase & Co. lifted their price objective on shares of NVIDIA from $500.00 to $600.00 and gave the company an “overweight” rating in a research report on Thursday, August 24th. Finally, Raymond James lifted their price objective on shares of NVIDIA from $500.00 to $600.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $558.95.

Read Our Latest Stock Analysis on NVIDIA

NVIDIA 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.