NVIDIA Co. (NASDAQ:NVDA) Position Reduced by MADDEN SECURITIES Corp

Posted by Ethan Ryder on Mar 19th, 2023

MADDEN SECURITIES Corp cut its position in shares of NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 60.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,217 shares of the computer hardware maker’s stock after selling 24,659 shares during the quarter. NVIDIA accounts for 1.2% of MADDEN SECURITIES Corp’s portfolio, making the stock its 24th largest position. MADDEN SECURITIES Corp’s holdings in NVIDIA were worth $2,370,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. GoalVest Advisory LLC lifted its stake in NVIDIA by 124.1% during the fourth quarter. GoalVest Advisory LLC now owns 195 shares of the computer hardware maker’s stock valued at $28,000 after buying an additional 108 shares in the last quarter. Riggs Asset Managment Co. Inc. increased its holdings in shares of NVIDIA by 271.2% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 245 shares of the computer hardware maker’s stock valued at $30,000 after purchasing an additional 179 shares during the period. FSC Wealth Advisors LLC increased its holdings in shares of NVIDIA by 313.6% in the 3rd quarter. FSC Wealth Advisors LLC now owns 273 shares of the computer hardware maker’s stock valued at $33,000 after purchasing an additional 207 shares during the period. Paragon Wealth Strategies LLC acquired a new position in shares of NVIDIA in the 3rd quarter valued at about $36,000. Finally, Lumature Wealth Partners LLC increased its holdings in shares of NVIDIA by 396.8% in the 3rd quarter. Lumature Wealth Partners LLC now owns 313 shares of the computer hardware maker’s stock valued at $38,000 after purchasing an additional 250 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Up 0.7 %

NVDA opened at $257.25 on Friday. NVIDIA Co. has a 1-year low of $108.13 and a 1-year high of $289.46. The company has a current ratio of 3.52, a quick ratio of 2.73 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $635.41 billion, a price-to-earnings ratio of 147.84, a P/E/G ratio of 4.53 and a beta of 1.76. The business has a 50 day moving average of $210.84 and a 200-day moving average of $167.00.

NVIDIA (NASDAQ:NVDA – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The computer hardware maker reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.07. NVIDIA had a return on equity of 26.61% and a net margin of 16.19%. The company had revenue of $6.05 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same period in the prior year, the business earned $1.14 earnings per share. NVIDIA’s revenue for the quarter was down 20.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that NVIDIA Co. will post 3.21 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 29th. Investors of record on Wednesday, March 8th will be given a $0.04 dividend. The ex-dividend date is Tuesday, March 7th. This represents a $0.16 annualized dividend and a yield of 0.06%. NVIDIA’s dividend payout ratio (DPR) is currently 9.20%.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 120,000 shares of the firm’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $158.84, for a total value of $19,060,800.00. Following the completion of the transaction, the director now directly owns 1,325,888 shares of the company’s stock, valued at $210,604,049.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Mark A. Stevens sold 120,000 shares of the firm’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $158.84, for a total value of $19,060,800.00. Following the completion of the transaction, the director now directly owns 1,325,888 shares of the company’s stock, valued at $210,604,049.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 45,000 shares of the firm’s stock in a transaction on Thursday, January 12th. The stock was sold at an average price of $164.70, for a total value of $7,411,500.00. Following the completion of the transaction, the director now directly owns 1,190,888 shares of the company’s stock, valued at $196,139,253.60. The disclosure for this sale can be found here. Insiders sold a total of 293,066 shares of company stock valued at $51,229,679 over the last ninety days. 4.04% of the stock is owned by company insiders.

Analyst Ratings Changes

NVDA has been the topic of a number of research reports. Morgan Stanley upgraded NVIDIA from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $255.00 to $304.00 in a report on Thursday. Evercore ISI upped their target price on NVIDIA from $245.00 to $300.00 in a report on Thursday, February 23rd. Citigroup upped their target price on NVIDIA from $245.00 to $305.00 and gave the company a “buy” rating in a report on Friday. BMO Capital Markets upped their target price on NVIDIA from $210.00 to $240.00 and gave the company an “outperform” rating in a report on Tuesday, February 21st. Finally, Stifel Nicolaus increased their price objective on NVIDIA from $175.00 to $207.00 and gave the stock a “hold” rating in a report on Tuesday, February 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $245.32.

About NVIDIA

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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, including GeForce for gamers, Quadro for designers, Tesla and DGX for AI data scientists and big data researchers, and GRID for cloud-based visual computing users.