Intercontinental Wealth Advisors LLC Sells 175 Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Oct 12th, 2023

Intercontinental Wealth Advisors LLC lowered its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 4.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,815 shares of the computer hardware maker’s stock after selling 175 shares during the quarter. Intercontinental Wealth Advisors LLC’s holdings in NVIDIA were worth $1,614,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Contravisory Investment Management Inc. bought a new stake in NVIDIA during the first quarter worth about $28,000. Nordwand Advisors LLC bought a new stake in NVIDIA during the first quarter worth about $28,000. Quarry LP bought a new stake in NVIDIA during the first quarter worth about $34,000. Financial Connections Group Inc. grew its stake in NVIDIA by 605.7% during the fourth quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock worth $36,000 after buying an additional 212 shares during the last quarter. Finally, Chelsea Counsel Co. bought a new stake in NVIDIA during the fourth quarter worth about $37,000. Institutional investors own 64.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on NVDA shares. UBS Group increased their price target on shares of NVIDIA from $540.00 to $560.00 and gave the company a “buy” rating in a research note on Thursday, August 24th. HSBC increased their price target on shares of NVIDIA from $600.00 to $780.00 and gave the company a “buy” rating in a research note on Monday, August 21st. Jefferies Financial Group increased their price target on shares of NVIDIA from $500.00 to $610.00 and gave the company a “buy” rating in a research note on Thursday, August 24th. Argus increased their price target on shares of NVIDIA from $450.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, August 24th. Finally, Daiwa Capital Markets raised shares of NVIDIA from a “neutral” rating to an “outperform” rating and increased their price target for the company from $408.00 to $475.00 in a research note on Thursday, June 29th. 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $561.45.

View Our Latest Research Report on NVIDIA

NVIDIA Stock Up 2.2 %

Shares of NVDA stock 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. NVIDIA Co. has a 1 year low of $108.13 and a 1 year high of $502.66. The firm’s fifty day moving average price is $449.15 and its two-hundred day moving average price is $389.96. The firm has a market capitalization of $1.16 trillion, a P/E 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 quarterly 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. The firm had revenue of $13.51 billion for the quarter, compared to analyst estimates of $11.19 billion. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The company’s revenue was up 101.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 EPS. On average, equities analysts predict that NVIDIA Co. will post 9.54 EPS for the current fiscal 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 dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $0.16 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 3.86%.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 21,500 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 1,030,786 shares in the company, valued at approximately $482,490,310.88. The transaction was disclosed in a document filed 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 NVIDIA stock in a transaction dated 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 owns 1,030,786 shares of the company’s stock, valued at approximately $482,490,310.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 4,980 shares of NVIDIA stock in a transaction dated 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 sale, the chief financial officer now directly owns 499,428 shares of the company’s stock, valued at approximately $230,106,456.72. The disclosure for this sale can be found here. Insiders have sold 145,232 shares of company stock worth $67,606,089 in the last ninety days. 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.