NVIDIA Co. (NASDAQ:NVDA) Holdings Increased by Terra Nova Asset Management LLC

Posted by Defense World Staff on Oct 12th, 2023

Terra Nova Asset Management LLC lifted its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 21.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,057 shares of the computer hardware maker’s stock after buying an additional 1,409 shares during the quarter. NVIDIA makes up 3.1% of Terra Nova Asset Management LLC’s holdings, making the stock its 4th largest position. Terra Nova Asset Management LLC’s holdings in NVIDIA were worth $3,408,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of NVDA. United Bank boosted its stake in shares of NVIDIA by 28.9% in the first quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock worth $2,106,000 after buying an additional 1,730 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in NVIDIA by 6.8% during the first 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 in the last quarter. MAS Advisors LLC boosted its position in NVIDIA by 42.1% during the first 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 in the last quarter. Navis Wealth Advisors LLC boosted its position in NVIDIA by 205.3% during the first 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 in the last quarter. Finally, Ergoteles LLC purchased a new position in NVIDIA during the first quarter worth approximately $929,000. Hedge funds and other institutional investors own 64.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NVDA. Bank of America raised their target price on NVIDIA from $550.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, August 24th. Evercore ISI raised their target price on NVIDIA to $600.00 in a research report on Thursday, August 24th. Piper Sandler raised their target price on NVIDIA from $500.00 to $620.00 and gave the company an “overweight” rating in a research report on Thursday, August 24th. Citigroup raised their target price on NVIDIA from $520.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday, August 24th. Finally, Jefferies Financial Group increased their price target on NVIDIA from $500.00 to $610.00 and gave the company a “buy” rating in a report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $561.45.

Get Our Latest Analysis on NVDA

NVIDIA Trading Up 2.2 %

Shares of NVIDIA stock opened at $468.06 on Thursday. The company has a fifty day simple moving average of $449.15 and a 200-day simple moving average of $389.96. NVIDIA Co. has a 12-month low of $108.13 and a 12-month high of $502.66. 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 stock has a market cap of $1.16 trillion, a price-to-earnings ratio of 113.06, a PEG ratio of 3.52 and a beta of 1.76.

NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its earnings results 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 net margin of 31.59% and a return on equity of 45.50%. The business had revenue of $13.51 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same quarter in the prior year, the business posted $0.32 EPS. The company’s revenue for the quarter was up 101.5% on a year-over-year basis. On average, equities analysts forecast that NVIDIA Co. will post 9.54 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Investors 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 yield of 0.03%. The ex-dividend date of this dividend was Wednesday, September 6th. NVIDIA’s dividend payout ratio is currently 3.86%.

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 shares were 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 owns 499,428 shares in the company, valued at approximately $230,106,456.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Colette Kress sold 4,980 shares of the stock in a transaction on 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 completion of the sale, the chief financial officer now owns 499,428 shares in the company, valued at approximately $230,106,456.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 21,500 shares of the stock in a transaction 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 sale, the director now 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 worth $67,606,089 in the last 90 days. Company 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.