Schrum Private Wealth Management LLC Buys New Stake in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Oct 15th, 2023

Schrum Private Wealth Management LLC bought a new stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 545 shares of the computer hardware maker’s stock, valued at approximately $231,000.

Several other institutional investors also recently bought and sold shares of NVDA. United Bank grew its stake in shares of NVIDIA by 28.9% in the 1st 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of NVIDIA by 6.8% in 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 buying an additional 249,045 shares in the last quarter. MAS Advisors LLC grew 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 buying an additional 583 shares in the last quarter. Navis Wealth Advisors LLC grew 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 buying an additional 1,950 shares in the last quarter. Finally, Ergoteles LLC purchased a new position in shares of NVIDIA in the 1st quarter worth $929,000. 64.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 29,688 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $454.01, for a total value of $13,478,648.88. Following the sale, the chief executive officer now owns 7,918,875 shares in the company, valued at $3,595,248,438.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Jen Hsun Huang sold 29,688 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $454.01, for a total value of $13,478,648.88. Following the sale, the chief executive officer now owns 7,918,875 shares in the company, valued at $3,595,248,438.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 owns 499,428 shares in the company, valued at approximately $230,106,456.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 145,232 shares of company stock valued at $67,606,089. Insiders own 3.99% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of recent research reports. Truist Financial lifted their price objective on shares of NVIDIA from $545.00 to $668.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. Benchmark lifted their price target on shares of NVIDIA from $475.00 to $625.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. Tigress Financial lifted their price target on shares of NVIDIA from $320.00 to $560.00 in a research note on Friday, July 7th. Wolfe Research lifted their price target on shares of NVIDIA from $570.00 to $630.00 and gave the stock an “outperform” rating in a research note on Thursday, August 24th. Finally, Rosenblatt Securities reaffirmed a “buy” rating on shares of NVIDIA in a research note on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $561.45.

Get Our Latest Report on NVDA

NVIDIA Stock Down 3.2 %

Shares of NVIDIA stock opened at $454.61 on Friday. The company has a market cap of $1.12 trillion, a P/E ratio of 109.81, a PEG ratio of 3.52 and a beta of 1.76. NVIDIA Co. has a 52-week low of $112.04 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. The firm’s 50 day moving average price is $449.79 and its 200-day moving average price is $392.72.

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 company had revenue of $13.51 billion for the quarter, compared to the consensus estimate of $11.19 billion. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. NVIDIA’s revenue was up 101.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. On average, sell-side analysts predict that NVIDIA Co. will post 9.54 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.04%. The ex-dividend date was Wednesday, September 6th. NVIDIA’s dividend payout ratio is presently 3.86%.

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.