Moran Wealth Management LLC Has $11.62 Million Holdings in NVIDIA Co. (NASDAQ:NVDA) (2024)

Posted by ABMN Staff on May 21st, 2024

Moran Wealth Management LLC grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 937.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,455 shares of the computer hardware maker’s stock after acquiring an additional 21,194 shares during the period. Moran Wealth Management LLC’s holdings in NVIDIA were worth $11,615,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. LFA Lugano Financial Advisors SA acquired a new stake in shares of NVIDIA in the fourth quarter valued at approximately $28,000. Criterion Capital Advisors LLC acquired a new stake in shares of NVIDIA in the fourth quarter valued at approximately $28,000. Your Advocates Ltd. LLP acquired a new stake in shares of NVIDIA in the third quarter valued at approximately $30,000. Trivant Custom Portfolio Group LLC raised its position in shares of NVIDIA by 44.1% in the third quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock valued at $43,000 after buying an additional 30 shares in the last quarter. Finally, O Brien Wealth Partners LLC raised its position in shares of NVIDIA by 139.5% in the fourth quarter. O Brien Wealth Partners LLC now owns 91 shares of the computer hardware maker’s stock valued at $45,000 after buying an additional 53 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $879.97, for a total value of $19,975,319.00. Following the sale, the director now owns 1,052,133 shares in the company, valued at approximately $925,845,476.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 12,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $853.54, for a total value of $10,242,480.00. Following the completion of the sale, the director now directly owns 1,107,583 shares of the company’s stock, valued at approximately $945,366,393.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the completion of the sale, the director now directly owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The disclosure for this sale can be found here. Insiders have sold 61,278 shares of company stock worth $52,689,898 in the last quarter. Insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $947.80 on Tuesday. The firm’s 50-day moving average price is $884.78 and its 200-day moving average price is $691.03. NVIDIA Co. has a 1-year low of $298.06 and a 1-year high of $974.00. The firm has a market capitalization of $2.33 trillion, a P/E ratio of 79.38, a P/E/G ratio of 1.31 and a beta of 1.75. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20.

NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The firm had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The business’s quarterly revenue was up 265.3% compared to the same quarter last year. Equities research analysts anticipate that NVIDIA Co. will post 22.9 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were issued a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA’s dividend payout ratio is presently 1.34%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of NVIDIA from $1,050.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Monday. Stifel Nicolaus lifted their price objective on shares of NVIDIA from $910.00 to $1,085.00 and gave the company a “buy” rating in a research note on Monday. Bank of America lifted their price objective on shares of NVIDIA from $925.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. The Goldman Sachs Group lifted their price objective on shares of NVIDIA from $1,000.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Finally, UBS Group lifted their price objective on shares of NVIDIA from $1,100.00 to $1,150.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Four research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.18.

Check Out Our Latest Stock Report on NVDA

NVIDIA Company Profile

(Free Report)

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The 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; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.

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