CWA Asset Management Group LLC Raises Position in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Oct 23rd, 2023

CWA Asset Management Group LLC grew its position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,469 shares of the computer hardware maker’s stock after buying an additional 217 shares during the quarter. NVIDIA makes up about 2.3% of CWA Asset Management Group LLC’s investment portfolio, making the stock its 8th biggest position. CWA Asset Management Group LLC’s holdings in NVIDIA were worth $34,040,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Nordwand Advisors LLC bought a new stake in NVIDIA during the first quarter worth about $28,000. Quarry LP acquired a new position in shares of NVIDIA during the first quarter worth approximately $34,000. Compass Wealth Management LLC acquired a new position in shares of NVIDIA during the fourth quarter worth approximately $39,000. MRP Capital Investments LLC acquired a new position in shares of NVIDIA during the second quarter worth approximately $42,000. Finally, 25 LLC acquired a new position in shares of NVIDIA during the first quarter worth approximately $46,000. 64.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of research reports. Raymond James upped their target price on shares of NVIDIA from $500.00 to $600.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 24th. HSBC upped their target price on shares of NVIDIA from $600.00 to $780.00 and gave the stock a “buy” rating in a research report on Monday, August 21st. TD Cowen increased their price objective on shares of NVIDIA from $600.00 to $700.00 and gave the company an “outperform” rating in a report on Wednesday, October 11th. BNP Paribas upgraded shares of NVIDIA from a “neutral” rating to an “outperform” rating and set a $745.00 price objective on the stock in a report on Thursday, August 24th. Finally, Piper Sandler increased their price objective on shares of NVIDIA from $500.00 to $620.00 and gave the company an “overweight” rating in a report on Thursday, August 24th. One investment 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 stock. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $556.83.

Get Our Latest Stock Analysis on NVIDIA

NVIDIA Stock Down 1.7 %

NVIDIA stock opened at $413.87 on Monday. The company has a market cap of $1.02 trillion, a P/E ratio of 99.97, a price-to-earnings-growth ratio of 3.21 and a beta of 1.76. NVIDIA Co. has a 1-year low of $118.87 and a 1-year high of $502.66. The company has a fifty day simple moving average of $449.76 and a 200 day simple moving average of $399.09. 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 (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings data on Wednesday, August 23rd. The computer hardware maker reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.62. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The company had revenue of $13.51 billion during the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter last year, the firm posted $0.32 EPS. The company’s quarterly revenue was up 101.5% on a year-over-year basis. Research analysts anticipate 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 given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date was Wednesday, September 6th. NVIDIA’s dividend payout ratio (DPR) is presently 3.86%.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $454.01, for a total transaction of $13,478,648.88. Following the completion of the sale, the chief executive officer now owns 7,918,875 shares of the company’s stock, valued at approximately $3,595,248,438.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $454.01, for a total transaction of $13,478,648.88. Following the completion of the sale, the chief executive officer now owns 7,918,875 shares of the company’s stock, valued at approximately $3,595,248,438.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 21,500 shares of NVIDIA stock in a transaction dated 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 directly 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. In the last 90 days, insiders sold 145,232 shares of company stock worth $67,606,089. 3.99% of the stock is owned by insiders.

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.