ONE Advisory Partners LLC has reduced its investment in NVIDIA Corporation (NASDAQ: NVDA) by 3.3% during the second quarter of 2023. According to the firm’s recent Form 13F filing with the Securities and Exchange Commission, the total stock position now stands at 60,037 shares, down from 62,109 shares after the sale of 2,072 shares during the reporting period. As of the end of the second quarter, these holdings were valued at approximately $10.25 million, making NVIDIA the firm’s tenth largest investment, representing about 3.4% of its portfolio.
Other institutional investors have also adjusted their positions in NVIDIA recently. Welch Group LLC increased its stake by 2.6%, owning 184,091 shares worth $29.08 million. Presilium Private Wealth LLC grew its holdings by 15.0% to 3,825 shares, valued at $604,000, while Pathway Financial Advisors LLC boosted its stake by 1.9%, now owning 22,371 shares valued at $3.53 million.
Cypress Capital Group expanded its position by 2.1%, owning 121,545 shares worth $19.20 million, and Stephens Consulting LLC increased its holdings by 2.6% to 25,821 shares, valued at approximately $4.08 million. Overall, institutional investors own around 65.27% of NVIDIA’s stock.
NVIDIA’s Stock Performance and Earnings Report
As of October 25, 2023, shares of NVIDIA opened at $198.69. The company currently holds a market capitalization of $4.83 trillion, with a price-to-earnings ratio of 56.61 and a price-to-earnings-growth ratio of 1.49. The stock has experienced a 52-week low of $86.62 and a high of $212.19. Recent financial metrics include a quick ratio of 3.60, a current ratio of 4.21, and a low debt-to-equity ratio of 0.08.
NVIDIA’s latest quarterly earnings, released on August 27, 2023, revealed an earnings per share (EPS) of $1.05, surpassing analysts’ expectations of $1.01 by $0.04. The company reported a revenue of $46.74 billion for the quarter, exceeding the consensus estimate of $45.65 billion. This marks an impressive year-over-year revenue increase of 55.6%, compared to $0.68 earnings per share from the same quarter last year.
Dividends and Insider Transactions
NVIDIA recently announced a quarterly dividend of $0.01, which was paid on October 2, 2023, to investors who were on record by September 11, 2023. This annualizes to $0.04 per share, representing a yield of 0.0%, with a payout ratio of 1.14%.
In insider trading news, Director Mark A. Stevens sold 350,000 shares on September 19, 2023, at an average price of $176.39, totaling approximately $61.74 million. Following this transaction, his ownership decreased by 4.52%, leaving him with 7,399,803 shares valued at around $1.31 billion. Similarly, Director Harvey C. Jones sold 250,000 shares on September 18, 2023, for a total of $44.05 million, resulting in a 3.36% reduction in his holdings.
Over the last 90 days, insiders sold a total of 3,503,937 shares valued at $627.69 million. Currently, corporate insiders own approximately 4.17% of NVIDIA’s stock.
Analyst Ratings and Future Outlook
In terms of analyst coverage, several reports have recently been issued regarding NVIDIA. S&P Equity Research reaffirmed a “positive” rating, while KeyCorp upgraded its price target from $230.00 to $250.00. HSBC Global Research upgraded NVIDIA from a “hold” to a “strong-buy” rating. Bank of America raised its price objective from $235.00 to $275.00, maintaining a “buy” rating. Mizuho set a price target of $235.00.
Currently, five analysts rate NVIDIA as a Strong Buy, 41 analysts have assigned a Buy rating, two analysts have issued a Hold rating, and one has given a Sell rating. According to data from MarketBeat, the consensus rating is “Buy” with an average target price of $233.75.
NVIDIA Corporation continues to be a key player in the graphics and computing technology sector, providing solutions in the United States and internationally, particularly in gaming and enterprise graphics.