Pflug Koory LLC Lowers Holdings in NVIDIA Co. (NASDAQ:NVDA)

Posted by on Oct 11th, 2023

Pflug Koory LLC lowered its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 18.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 325 shares of the computer hardware maker’s stock after selling 75 shares during the quarter. Pflug Koory LLC’s holdings in NVIDIA were worth $137,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Contravisory Investment Management Inc. acquired a new stake in NVIDIA in the first quarter valued at $28,000. Nordwand Advisors LLC acquired a new position in shares of NVIDIA during the 1st quarter worth $28,000. Graham Capital Wealth Management LLC acquired a new position in shares of NVIDIA during the 1st quarter worth $311,102,000. Quarry LP acquired a new position in shares of NVIDIA during the 1st quarter worth $34,000. Finally, 25 LLC acquired a new position in shares of NVIDIA during the 1st quarter worth $46,000. Institutional investors and hedge funds own 64.79% of the company’s stock.

NVIDIA Stock Performance

NVIDIA stock opened at $457.98 on Wednesday. The stock’s 50 day moving average price is $448.64 and its 200 day moving average price is $389.41. The firm has a market capitalization 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 quick ratio of 2.37 and a current ratio of 2.79. NVIDIA Co. has a one year low of $108.13 and a one year high of $502.66.

NVIDIA (NASDAQ:NVDA – Get Free Report) last released its quarterly earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 EPS for the quarter, topping 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 firm had revenue of $13.51 billion for the quarter, compared to analyst estimates of $11.19 billion. During the same period in the previous year, the company posted $0.32 EPS. NVIDIA’s revenue for the quarter was up 101.5% on a year-over-year basis. As a group, sell-side analysts expect that NVIDIA Co. will post 9.54 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th were given a $0.04 dividend. 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 payout ratio is 3.86%.

Analysts Set New Price Targets

Several research firms have recently issued reports on NVDA. Citigroup lifted their price target on NVIDIA from $520.00 to $630.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. Deutsche Bank Aktiengesellschaft lifted their price target on NVIDIA from $440.00 to $560.00 and gave the stock a “hold” rating in a research note on Thursday, August 24th. Raymond James lifted their price target on NVIDIA from $500.00 to $600.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 24th. Daiwa Capital Markets raised NVIDIA from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $408.00 to $475.00 in a research note on Thursday, June 29th. Finally, Phillip Securities upgraded NVIDIA from an “accumulate” rating to a “buy” rating in a research report on Monday, August 28th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $558.95.

Check Out Our Latest Research Report on NVIDIA

Insider Buying and Selling at NVIDIA

In other NVIDIA news, 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 of the company’s stock, valued at approximately $3,555,495,686.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other NVIDIA news, 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 of the company’s stock, valued at approximately $3,555,495,686.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 21,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 1,030,786 shares in the company, valued at $482,490,310.88. 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 in the last three months. Corporate 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.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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