BerganKDV Wealth Management LLC Trims Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Oct 16th, 2023

BerganKDV Wealth Management LLC lessened its position in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 28.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 764 shares of the computer hardware maker’s stock after selling 311 shares during the period. BerganKDV Wealth Management LLC’s holdings in NVIDIA were worth $323,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NVDA. WT Asset Management Ltd purchased a new stake in shares of NVIDIA in the second quarter valued at $90,949,000. Hexagon Capital Partners LLC grew its position in shares of NVIDIA by 1.0% in the second quarter. Hexagon Capital Partners LLC now owns 5,748 shares of the computer hardware maker’s stock valued at $2,432,000 after purchasing an additional 58 shares during the period. Source Financial Advisors LLC grew its position in shares of NVIDIA by 9.0% in the second quarter. Source Financial Advisors LLC now owns 1,510 shares of the computer hardware maker’s stock valued at $639,000 after purchasing an additional 125 shares during the period. Alliance Wealth Advisors LLC purchased a new stake in shares of NVIDIA in the second quarter valued at $288,000. Finally, MCF Advisors LLC boosted its position in shares of NVIDIA by 23.7% in the second quarter. MCF Advisors LLC now owns 5,763 shares of the computer hardware maker’s stock worth $2,438,000 after acquiring an additional 1,106 shares during the last quarter. Institutional investors and hedge funds own 64.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NVDA. Piper Sandler raised their target price on shares of NVIDIA from $500.00 to $620.00 and gave the stock an “overweight” rating in a research report on Thursday, August 24th. Robert W. Baird raised their target price on shares of NVIDIA from $570.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, August 24th. Wedbush increased their target price on NVIDIA from $490.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 24th. Deutsche Bank Aktiengesellschaft increased their target price on NVIDIA from $440.00 to $560.00 and gave the stock a “hold” rating in a research report on Thursday, August 24th. Finally, Susquehanna increased their target price on NVIDIA from $575.00 to $600.00 and gave the stock a “positive” rating in a research report on Thursday, August 24th. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $561.45.

Read Our Latest Report on NVDA

NVIDIA Stock Down 3.2 %

Shares of NVIDIA stock opened at $454.61 on Monday. 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 business’s 50 day simple moving average is $449.79 and its 200-day simple moving average is $393.58. The stock has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 109.81, a PEG ratio of 3.52 and a beta of 1.76. NVIDIA Co. has a twelve month low of $112.04 and a twelve month 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. The business had revenue of $13.51 billion during 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 quarterly revenue was up 101.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Equities research analysts forecast that NVIDIA Co. will post 9.54 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently disclosed 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 dividend yield of 0.04%. The ex-dividend date of this dividend was Wednesday, September 6th. NVIDIA’s dividend payout ratio is currently 3.86%.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 4,980 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 499,428 shares in the company, valued at $230,106,456.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Jen Hsun Huang sold 29,688 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $471.55, for a total transaction of $13,999,376.40. Following the completion of the transaction, the chief executive officer now owns 7,800,125 shares of the company’s stock, valued at $3,678,148,943.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Colette Kress sold 4,980 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $460.74, for a total value of $2,294,485.20. Following the transaction, 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 a total of 145,232 shares of company stock worth $67,606,089 over the last ninety days. 3.99% of the stock is currently owned by corporate insiders.

NVIDIA 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.