Moloney Securities Asset Management LLC Cuts Position in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Oct 29th, 2023

Moloney Securities Asset Management LLC decreased its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 18.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 11,213 shares of the computer hardware maker’s stock after selling 2,536 shares during the period. NVIDIA makes up about 0.8% of Moloney Securities Asset Management LLC’s investment portfolio, making the stock its 21st largest position. Moloney Securities Asset Management LLC’s holdings in NVIDIA were worth $4,743,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NVDA. Nordwand Advisors LLC acquired a new stake in NVIDIA in the first quarter valued at approximately $28,000. Marquette Asset Management LLC acquired a new stake in NVIDIA in the second quarter valued at approximately $34,000. Quarry LP acquired a new stake in NVIDIA in the first quarter valued at approximately $34,000. Compass Wealth Management LLC acquired a new stake in NVIDIA in the fourth quarter valued at approximately $39,000. Finally, MRP Capital Investments LLC acquired a new stake in NVIDIA in the second quarter valued at approximately $42,000. Hedge funds and other institutional investors own 64.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NVDA shares. Truist Financial raised their price target on shares of NVIDIA from $545.00 to $668.00 and gave the stock a “buy” rating in a research report on Thursday, August 24th. Wells Fargo & Company raised their price target on shares of NVIDIA from $500.00 to $600.00 and gave the stock an “overweight” rating in a research report on Thursday, August 24th. Morgan Stanley decreased their price target on shares of NVIDIA from $630.00 to $600.00 and set an “overweight” rating for the company in a research report on Wednesday, October 18th. Oppenheimer raised their price target on shares of NVIDIA from $500.00 to $650.00 and gave the stock an “outperform” rating in a research report on Thursday, August 24th. Finally, The Goldman Sachs Group raised shares of NVIDIA from a “buy” rating to a “conviction-buy” rating in a research report on Monday, October 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $556.83.

Get Our Latest Stock Analysis on NVIDIA

Insider Buying and Selling

In related news, CFO Colette Kress sold 4,980 shares of NVIDIA stock in a transaction dated Monday, August 28th. The stock was 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 owns 499,428 shares of the company’s stock, valued at approximately $230,106,456.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Colette Kress sold 4,980 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was 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 owns 499,428 shares in the company, valued at approximately $230,106,456.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 21,500 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $468.08, for a total value of $10,063,720.00. Following the completion of the transaction, the director now owns 1,030,786 shares in the company, valued at approximately $482,490,310.88. 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. 3.99% of the stock is owned by corporate insiders.

NVIDIA Price Performance

NASDAQ:NVDA opened at $405.00 on Friday. The business’s 50-day moving average price is $448.04 and its 200 day moving average price is $403.32. The firm has a market cap of $1.00 trillion, a P/E 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. 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 earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.62. The firm had revenue of $13.51 billion for the quarter, compared to analyst estimates of $11.19 billion. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. NVIDIA’s revenue was up 101.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 earnings per share. As a group, sell-side analysts predict that NVIDIA Co. will post 9.54 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 7th were paid a $0.04 dividend. The ex-dividend date was Wednesday, September 6th. This represents a $0.16 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s dividend payout ratio is currently 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.