Mitsubishi UFJ Asset Management UK Ltd. Invests $423,000 in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Oct 23rd, 2023

Mitsubishi UFJ Asset Management UK Ltd. purchased a new position in NVIDIA Co. (NASDAQ:NVDA – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,000 shares of the computer hardware maker’s stock, valued at approximately $423,000.

Other hedge funds also recently modified their holdings of the company. Von Berge Wealth Management Group LLC increased its position in shares of NVIDIA by 2.6% in the second quarter. Von Berge Wealth Management Group LLC now owns 930 shares of the computer hardware maker’s stock worth $393,000 after purchasing an additional 24 shares during the period. David J Yvars Group increased its position in shares of NVIDIA by 1.5% in the first quarter. David J Yvars Group now owns 11,708 shares of the computer hardware maker’s stock worth $3,252,000 after purchasing an additional 168 shares during the period. Telos Capital Management Inc. increased its position in shares of NVIDIA by 48.1% in the first quarter. Telos Capital Management Inc. now owns 4,560 shares of the computer hardware maker’s stock worth $1,267,000 after purchasing an additional 1,482 shares during the period. Alta Wealth Advisors LLC increased its position in shares of NVIDIA by 14.9% in the first quarter. Alta Wealth Advisors LLC now owns 6,650 shares of the computer hardware maker’s stock worth $1,847,000 after purchasing an additional 863 shares during the period. Finally, DBK Financial Counsel LLC bought a new position in NVIDIA in the second quarter valued at about $265,000. 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 company’s 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 $230,106,456.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Mark A. Stevens sold 21,500 shares of the company’s 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 transaction, 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 can be accessed through this link. Also, CFO Colette Kress sold 4,980 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $230,106,456.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 145,232 shares of company stock worth $67,606,089. 3.99% of the stock is owned by corporate insiders.

NVIDIA Trading Down 1.7 %

NASDAQ NVDA opened at $413.87 on Monday. The company has a market cap of $1.02 trillion, a price-to-earnings ratio of 99.97, a P/E/G ratio of 3.21 and a beta of 1.76. NVIDIA Co. has a 52 week low of $118.87 and a 52 week high of $502.66. The business has a 50 day moving average price of $449.76 and a 200-day moving average price of $399.09. The company has a quick ratio of 2.37, a current ratio of 2.79 and a debt-to-equity ratio of 0.31.

NVIDIA (NASDAQ:NVDA – Get Free Report) last released its quarterly earnings data on Wednesday, August 23rd. The computer hardware maker reported $2.70 EPS for the quarter, beating the consensus estimate of $2.08 by $0.62. The firm had revenue of $13.51 billion during the quarter, compared to the consensus estimate of $11.19 billion. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. The company’s quarterly revenue was up 101.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 earnings per share. As a group, equities analysts expect that NVIDIA Co. will post 9.54 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have issued reports on NVDA. Westpark Capital upgraded NVIDIA from a “hold” rating to a “buy” rating and set a $690.00 target price on the stock in a research report on Thursday, August 24th. JPMorgan Chase & Co. lifted their target price on NVIDIA from $500.00 to $600.00 and gave the company an “overweight” rating in a research report on Thursday, August 24th. Robert W. Baird boosted their price target on NVIDIA from $570.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, August 24th. The Goldman Sachs Group upgraded NVIDIA from a “buy” rating to a “conviction-buy” rating in a report on Monday, October 2nd. Finally, Rosenblatt Securities restated a “buy” rating on shares of NVIDIA in a report on Wednesday, September 20th. One equities research 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $556.83.

View Our Latest Research Report 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.