Levy Wealth Management Group LLC Cuts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Oct 12th, 2023

Levy Wealth Management Group LLC lessened its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 6.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,076 shares of the computer hardware maker’s stock after selling 71 shares during the quarter. Levy Wealth Management Group LLC’s holdings in NVIDIA were worth $455,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. United Bank boosted 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 worth $2,106,000 after purchasing an additional 1,730 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted 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 worth $1,065,457,000 after purchasing an additional 249,045 shares during the last quarter. MAS Advisors LLC boosted its stake in NVIDIA by 42.1% during 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 last quarter. Navis Wealth Advisors LLC boosted its stake in NVIDIA by 205.3% during 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 last quarter. Finally, Ergoteles LLC acquired a new stake in NVIDIA during the 1st quarter worth $929,000. Hedge funds and other institutional investors own 64.79% of the company’s stock.

Insider Buying and Selling

In related news, CFO Colette Kress sold 4,980 shares of the 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 completion of the sale, the chief financial officer now directly owns 499,428 shares of the company’s stock, valued at $230,106,456.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other NVIDIA news, CFO Colette Kress sold 4,980 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $460.74, for a total value of $2,294,485.20. Following the completion of the sale, the chief financial officer now owns 499,428 shares of the company’s stock, valued at $230,106,456.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 21,500 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 1,030,786 shares of the company’s stock, valued at approximately $482,490,310.88. The disclosure for this sale can be found here. Insiders sold a total of 145,232 shares of company stock valued at $67,606,089 over the last three months. 3.99% of the stock is currently owned by company insiders.

NVIDIA Stock Performance

Shares of NVDA opened at $468.06 on Thursday. The company has a current ratio of 2.79, a quick ratio of 2.37 and a debt-to-equity ratio of 0.31. The firm has a market cap of $1.16 trillion, a PE ratio of 113.06, a price-to-earnings-growth ratio of 3.52 and a beta of 1.76. The company’s 50 day simple moving average is $449.15 and its 200-day simple moving average is $389.96. NVIDIA Co. has a 12-month low of $108.13 and a 12-month high of $502.66.

NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its quarterly 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. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. The firm had revenue of $13.51 billion during the quarter, compared to the consensus estimate of $11.19 billion. During the same period last year, the company earned $0.32 earnings per share. The company’s revenue for the quarter was up 101.5% on a year-over-year basis. As a group, equities analysts predict that NVIDIA Co. will post 9.54 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 7th were issued 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 was Wednesday, September 6th. NVIDIA’s dividend payout ratio is presently 3.86%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NVDA shares. BNP Paribas raised shares of NVIDIA from a “neutral” rating to an “outperform” rating and set a $745.00 price target on the stock in a research report on Thursday, August 24th. Westpark Capital raised shares of NVIDIA from a “hold” rating to a “buy” rating and set a $690.00 price target on the stock in a research report on Thursday, August 24th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of NVIDIA from $440.00 to $560.00 and gave the company a “hold” rating in a research report on Thursday, August 24th. Craig Hallum boosted their price target on shares of NVIDIA from $500.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, August 24th. Finally, Phillip Securities raised shares of NVIDIA from an “accumulate” rating to a “buy” rating in a research report on Monday, August 28th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $561.45.

Check Out Our Latest Stock Analysis on NVDA

NVIDIA Company 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.