NVIDIA Co. (NASDAQ:NVDA) Shares Sold by WealthPLAN Partners LLC

Posted by Defense World Staff on Oct 29th, 2023

WealthPLAN Partners LLC lowered its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 5.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,953 shares of the computer hardware maker’s stock after selling 294 shares during the period. WealthPLAN Partners LLC’s holdings in NVIDIA were worth $2,095,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Nordwand Advisors LLC acquired a new stake in shares of NVIDIA during the first quarter valued at approximately $28,000. Marquette Asset Management LLC acquired a new stake in shares of NVIDIA during the second quarter valued at approximately $34,000. Quarry LP acquired a new stake in shares of NVIDIA during the first quarter valued at approximately $34,000. Compass Wealth Management LLC acquired a new stake in shares of NVIDIA during the fourth quarter valued at approximately $39,000. Finally, MRP Capital Investments LLC acquired a new stake in shares of NVIDIA during the second quarter valued at approximately $42,000. Institutional investors and hedge funds own 64.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NVDA. StockNews.com began coverage on shares of NVIDIA in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Phillip Securities raised shares of NVIDIA from an “accumulate” rating to a “buy” rating in a research report on Monday, August 28th. JPMorgan Chase & Co. boosted their price objective on shares of NVIDIA from $500.00 to $600.00 and gave the company an “overweight” rating in a research report on Thursday, August 24th. BNP Paribas raised shares of NVIDIA from a “neutral” rating to an “outperform” rating and set a $745.00 price objective on the stock in a research report on Thursday, August 24th. Finally, Robert W. Baird boosted 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. One research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $556.83.

View Our Latest Analysis on NVDA

NVIDIA Stock Up 0.4 %

NVDA opened at $405.00 on Friday. The firm’s 50-day simple moving average is $448.04 and its 200-day simple moving average is $403.32. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.37 and a current ratio of 2.79. NVIDIA Co. has a twelve month low of $129.56 and a twelve month high of $502.66. The firm has a market cap 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 (NASDAQ:NVDA – Get Free Report) last posted its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.62. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The business had revenue of $13.51 billion for the quarter, compared to analyst estimates of $11.19 billion. During the same quarter in the prior year, the firm earned $0.32 EPS. The firm’s quarterly revenue was up 101.5% compared to the same quarter last year. Equities research analysts anticipate that NVIDIA Co. will post 9.54 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 4,980 shares of the stock in a transaction dated 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 sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. In other NVIDIA news, CFO Colette Kress sold 4,980 shares of the stock in a transaction dated 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 sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 29,688 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $486.40, for a total transaction of $14,440,243.20. Following the completion of the transaction, the chief executive officer now directly owns 7,800,125 shares in the company, valued at approximately $3,793,980,800. The disclosure for this sale can be found here. Insiders have sold a total of 145,232 shares of company stock valued at $67,606,089 in the last 90 days. 3.99% of the stock is currently 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.