GenTrust LLC Has $1.36 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Oct 11th, 2023

GenTrust LLC reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,219 shares of the computer hardware maker’s stock after selling 50 shares during the period. GenTrust LLC’s holdings in NVIDIA were worth $1,362,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of NVDA. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of NVIDIA by 84,165.9% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,389,779,605 shares of the computer hardware maker’s stock valued at $587,904,569,000 after purchasing an additional 1,388,130,327 shares during the last quarter. Norges Bank acquired a new stake in shares of NVIDIA in the fourth quarter valued at approximately $3,900,874,000. Moneta Group Investment Advisors LLC raised its holdings in shares of 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 acquired a new stake in shares of NVIDIA in the first quarter valued at approximately $2,290,856,000. Finally, Morgan Stanley raised its holdings in shares of NVIDIA by 20.2% in 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 purchasing an additional 4,621,002 shares during the last quarter. 64.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Tigress Financial raised their target price on shares of NVIDIA from $320.00 to $560.00 in a research note on Friday, July 7th. Bank of America raised their target price on shares of NVIDIA from $550.00 to $650.00 and gave the company a “buy” rating in a research note on Thursday, August 24th. TD Cowen raised their target price on shares of NVIDIA from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 24th. KeyCorp raised their target price on shares of NVIDIA from $670.00 to $750.00 and gave the company an “overweight” rating in a research note on Tuesday, October 3rd. Finally, Piper Sandler lifted their price objective on shares of NVIDIA from $500.00 to $620.00 and gave the stock an “overweight” rating in a research report on Thursday, August 24th. One investment 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $558.95.

Get Our Latest Report on NVDA

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 21,500 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $468.08, for a total value of $10,063,720.00. Following the sale, the director now directly owns 1,030,786 shares in the company, valued at $482,490,310.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Mark A. Stevens sold 21,500 shares of the company’s 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 transaction, the director now directly owns 1,030,786 shares of the company’s stock, valued at $482,490,310.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 29,688 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was 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 directly owns 7,918,875 shares in the company, valued at $3,555,495,686.25. The disclosure for this sale can be found here. Insiders have sold 145,232 shares of company stock worth $67,606,089 over the last ninety days. Insiders own 3.99% of the company’s stock.

NVIDIA Stock Performance

NVIDIA stock opened at $457.98 on Wednesday. The business has a 50 day moving average of $448.64 and a 200-day moving average of $389.41. NVIDIA Co. has a 1 year low of $108.13 and a 1 year high of $502.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.37. The company has a market capitalization of $1.13 trillion, a P/E ratio of 110.62, a P/E/G ratio of 3.55 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 return on equity of 45.50% and a net margin of 31.59%. The company had revenue of $13.51 billion during the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter in the prior year, the firm posted $0.32 earnings per share. The firm’s revenue was up 101.5% compared to the same quarter last year. On average, equities research analysts predict that NVIDIA Co. will post 9.54 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Stockholders 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 was Wednesday, September 6th. NVIDIA’s dividend payout ratio is currently 3.86%.

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.