Mcdaniel Terry & Co. Cuts Stake in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Oct 11th, 2023

Mcdaniel Terry & Co. lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 9.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,904 shares of the computer hardware maker’s stock after selling 302 shares during the period. Mcdaniel Terry & Co.’s holdings in NVIDIA were worth $1,228,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of NVDA. United Bank lifted its stake in NVIDIA by 28.9% during the 1st quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock valued at $2,106,000 after acquiring an additional 1,730 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in 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 valued at $1,065,457,000 after acquiring an additional 249,045 shares during the period. MAS Advisors LLC lifted its stake in shares of NVIDIA by 42.1% in the 1st quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock worth $545,000 after purchasing an additional 583 shares during the period. Navis Wealth Advisors LLC lifted its stake in shares of NVIDIA by 205.3% in the 1st quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock worth $791,000 after purchasing an additional 1,950 shares during the period. Finally, Ergoteles LLC bought a new position in shares of NVIDIA in the 1st quarter worth approximately $929,000. Institutional investors own 64.79% of the company’s stock.

Insider Activity

In other news, Director Mark A. Stevens sold 21,500 shares of the business’s stock in a transaction on 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 completion of the sale, 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 can be accessed through the SEC website. In related 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 value of $10,063,720.00. Following the completion of the sale, the director now directly owns 1,030,786 shares of the company’s stock, valued at $482,490,310.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 29,688 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $471.55, for a total transaction of $13,999,376.40. Following the completion of the sale, the chief executive officer now directly owns 7,800,125 shares of the company’s stock, valued at $3,678,148,943.75. 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 company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NVDA shares. Daiwa Capital Markets upgraded shares of NVIDIA from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $408.00 to $475.00 in a research note on Thursday, June 29th. Jefferies Financial Group increased their price objective on shares of NVIDIA from $500.00 to $610.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. Tigress Financial increased their price objective on shares of NVIDIA from $320.00 to $560.00 in a research note on Friday, July 7th. Wells Fargo & Company increased their price objective on shares of NVIDIA from $500.00 to $600.00 and gave the stock an “overweight” rating in a research note on Thursday, August 24th. Finally, StockNews.com assumed coverage on shares of NVIDIA in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $558.95.

Read Our Latest Stock Report on NVIDIA

NVIDIA Stock Up 1.2 %

Shares of NVDA opened at $457.98 on Wednesday. The company has a market cap of $1.13 trillion, a PE ratio of 110.62, a P/E/G ratio of 3.55 and a beta of 1.76. The business has a fifty day moving average of $448.64 and a 200 day moving average of $389.41. NVIDIA Co. has a 52-week low of $108.13 and a 52-week high of $502.66. The company has a quick ratio of 2.37, a current ratio of 2.79 and a debt-to-equity ratio of 0.31.

NVIDIA (NASDAQ:NVDA – Get Free Report) last released its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.62. The business had revenue of $13.51 billion during the quarter, compared to the consensus estimate of $11.19 billion. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. The business’s revenue for the quarter was up 101.5% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share. On average, sell-side analysts expect that NVIDIA Co. will post 9.54 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 7th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis 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.