Echo45 Advisors LLC Trims Holdings in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Oct 29th, 2023

Echo45 Advisors LLC cut its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 26.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,041 shares of the computer hardware maker’s stock after selling 372 shares during the quarter. NVIDIA makes up about 0.4% of Echo45 Advisors LLC’s holdings, making the stock its 24th biggest holding. Echo45 Advisors LLC’s holdings in NVIDIA were worth $440,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Courier Capital LLC boosted its stake in NVIDIA by 269.8% in the 2nd quarter. Courier Capital LLC now owns 5,399 shares of the computer hardware maker’s stock worth $2,284,000 after purchasing an additional 3,939 shares in the last quarter. Smith Chas P & Associates PA Cpas boosted its stake in NVIDIA by 99.3% in the 2nd quarter. Smith Chas P & Associates PA Cpas now owns 1,905 shares of the computer hardware maker’s stock worth $806,000 after purchasing an additional 949 shares in the last quarter. Montis Financial LLC bought a new position in NVIDIA in the 2nd quarter worth about $222,000. Parnassus Investments LLC boosted its stake in NVIDIA by 0.8% in the 2nd quarter. Parnassus Investments LLC now owns 1,416,986 shares of the computer hardware maker’s stock worth $599,413,000 after purchasing an additional 10,592 shares in the last quarter. Finally, Avaii Wealth Management LLC bought a new position in NVIDIA in the 2nd quarter worth about $260,000. 64.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, 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 value of $10,063,720.00. Following the completion of the sale, the director now directly owns 1,030,786 shares in the company, valued at $482,490,310.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, 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 value of $10,063,720.00. Following the completion of the sale, the director now directly owns 1,030,786 shares in the company, valued at $482,490,310.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 29,688 shares of the business’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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,232 shares of company stock valued at $67,606,089. 3.99% of the stock is currently owned by company insiders.

NVIDIA Stock Up 0.4 %

NASDAQ NVDA opened at $405.00 on Friday. 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 company has a fifty day moving average of $448.04 and a two-hundred day moving average of $403.32. The firm has a market capitalization of $1.00 trillion, a price-to-earnings ratio of 97.83, a PEG ratio of 3.13 and a beta of 1.76. NVIDIA Co. has a 52 week low of $129.56 and a 52 week high of $502.66.

NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its quarterly earnings data 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 company 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%. NVIDIA’s quarterly revenue was up 101.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share. On average, analysts predict that NVIDIA Co. will post 9.54 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently announced 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. 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 is currently 3.86%.

Analysts Set New Price Targets

NVDA has been the topic of several research analyst reports. Stifel Nicolaus upgraded shares of NVIDIA from a “hold” rating to a “buy” rating and upped their target price for the company from $440.00 to $600.00 in a research note on Thursday, August 24th. BMO Capital Markets upped their target price on shares of NVIDIA from $450.00 to $550.00 and gave the company an “outperform” rating in a research note on Monday, August 21st. Mizuho upped their target price on shares of NVIDIA from $530.00 to $590.00 and gave the company a “buy” rating in a research note on Thursday, August 24th. Phillip Securities upgraded shares of NVIDIA from an “accumulate” rating to a “buy” rating in a research note on Monday, August 28th. Finally, Robert W. Baird raised their price objective on shares of NVIDIA from $570.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $556.83.

Get Our Latest Report on NVIDIA

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.