FAS Wealth Partners Inc. has decreased its investment in NVIDIA Corporation (NASDAQ: NVDA) by 0.9% during the first quarter of 2023. According to the firm’s recent Form 13F filing with the Securities and Exchange Commission (SEC), FAS Wealth Partners now owns 130,909 shares of NVIDIA, following the sale of 1,185 shares during the reporting period. This adjustment values FAS Wealth Partners’ holdings in NVIDIA at approximately $14.19 million, making the company the 20th largest investment in their portfolio.
Several other significant investors have also adjusted their stakes in NVIDIA recently. Notably, FMR LLC raised its ownership by 0.7% in the fourth quarter, acquiring a total of 1,004,376,608 shares valued at $134.88 billion after purchasing an additional 6,665,252 shares. Geode Capital Management LLC increased its stake by 1.7%, now holding 555,548,278 shares worth $74.44 billion, following a purchase of 9,468,786 shares. Similarly, Price T Rowe Associates Inc. MD raised its stake by 0.9% to hold 411,328,951 shares valued at $55.24 billion.
In a noteworthy move, Norges Bank established a new position in NVIDIA valued at approximately $43.52 billion during the fourth quarter. Northern Trust Corp also significantly increased its stake by 15.8%, now owning 266,454,194 shares worth $35.78 billion. Overall, institutional investors and hedge funds currently control 65.27% of NVIDIA’s stock.
Insider Transactions and Stock Performance
Recent insider trading activity at NVIDIA includes notable sales by top executives. CFO Colette Kress sold 20,000 shares on August 4, 2023, at an average price of $178.06, totaling $3.56 million. Following this transaction, Kress retains 153,060 shares valued at approximately $27.25 million, marking an 11.56% decrease in her position.
CEO Jen Hsun Huang also sold 75,000 shares on August 13, 2023, for an average price of $181.38, resulting in a sale of $13.60 million. Huang’s remaining holdings now total 72,998,225 shares, worth approximately $13.24 billion, reflecting a 0.10% decrease in ownership. In total, corporate insiders have sold 5,837,440 shares valued at around $889.40 million in the past ninety days, which represents 4.17% of the company’s stock.
Analyst Ratings and Market Performance
Several financial analysts have adjusted their price targets for NVIDIA shares in recent weeks. Oppenheimer raised its price objective from $175.00 to $200.00, designating the stock with an “outperform” rating. Barclays likewise increased its target from $170.00 to $200.00, assigning an “overweight” rating. UBS Group reiterated a “buy” rating, while Jefferies Financial Group set a new target of $200.00, up from $185.00. Mizuho also increased its target to $205.00 with an “outperform” rating.
Currently, one investment analyst has given NVIDIA a sell rating, while five have rated it as a hold. The majority, 32 analysts, have assigned a buy rating, with four issuing a strong buy rating. As per data from MarketBeat.com, NVIDIA holds an average rating of “Moderate Buy” with a consensus target price of $186.33.
On the trading front, NVIDIA shares opened at $180.45 on the latest trading day. The stock has a 50-day moving average price of $163.96 and a 200-day moving average price of $135.36. Over the past year, NVIDIA’s stock has ranged from a low of $86.62 to a high of $184.48. The company currently boasts a market capitalization of $4.40 trillion, with a price-to-earnings (PE) ratio of 58.21 and a price-to-earnings-growth (PEG) ratio of 1.60.
NVIDIA’s recent quarterly earnings report indicated that the company achieved $0.81 earnings per share, falling short of the consensus estimate of $0.87. Despite this, the company reported a revenue of $44.06 billion, surpassing the anticipated $43.09 billion. Year-on-year, revenue increased by 69.2%, demonstrating substantial growth.
Additionally, NVIDIA declared a quarterly dividend of $0.01 per share, paid on July 3, 2023, with an annualized yield of 0.04%. The company’s payout ratio currently stands at 1.29%.
NVIDIA Corporation continues to play a pivotal role in the technology landscape, providing cutting-edge graphics and computing solutions internationally, including in the United States, Taiwan, China, and Hong Kong. As the demand for advanced gaming and computing technologies grows, NVIDIA remains positioned at the forefront of innovation in the sector.