PAX Financial Group LLC has reduced its stake in NVIDIA Corporation (NASDAQ: NVDA) by 29.8% during the second quarter of 2023, according to a report from HoldingsChannel. The firm now holds 20,595 shares of the computer hardware maker, down from 29,326 shares after selling 8,731 shares in the quarter. As of the latest reporting period, PAX Financial’s holdings in NVIDIA were valued at approximately $3,254,000.
This adjustment is part of a broader trend, as several institutional investors and hedge funds have either increased or decreased their positions in NVIDIA. For example, Harbor Asset Planning Inc. established a new position worth about $28,000, while Spurstone Advisory Services LLC added a stake valued at around $40,000. Legend Financial Advisors Inc. also entered the market with a new stake of $55,000. In contrast, Kathleen S. Wright Associates Inc. boosted its holdings by 169.3% in the first quarter, acquiring an additional 254 shares to reach a total of 404 shares, now worth $44,000.
As a result of these transactions, institutional investors now hold 65.27% of NVIDIA’s stock.
Insider Activity and Stock Performance
In related news, NVIDIA’s Director Mark A. Stevens sold 350,000 shares on September 19, 2023, at an average price of $176.39, totaling around $61,736,500. Following this transaction, Stevens retains 7,399,803 shares valued at approximately $1.31 billion, reflecting a 4.52% decrease in his ownership.
Another director, Harvey C. Jones, sold 250,000 shares on September 18, 2023, averaging $176.21 per share, amounting to about $44,052,500. Jones now owns 7,183,280 shares, worth nearly $1.27 billion, which is a 3.36% reduction in his stake. Over the last quarter, insiders have sold a total of 2,949,931 shares for a combined value of $531,605,955, with insiders currently holding 4.17% of the company’s stock.
NVIDIA’s Financial Outlook
On the market front, NVIDIA’s stock opened at $182.41 on Friday. The company’s 50-day moving average stands at $187.13, while the 200-day moving average is $172.08. NVIDIA maintains a debt-to-equity ratio of 0.06, a quick ratio of 3.71, and a current ratio of 4.47. The company has experienced significant fluctuations, with a 52-week low of $86.62 and a high of $212.19.
In its most recent earnings report on November 19, 2023, NVIDIA posted earnings of $1.30 per share, exceeding analysts’ expectations of $1.23 by $0.07. The company reported a remarkable revenue of $57.01 billion, up 62.5% year-over-year, against a forecast of $54.66 billion. Analysts project NVIDIA will achieve earnings of $2.77 per share for the current fiscal year.
NVIDIA also announced a quarterly dividend of $0.01 per share, set to be paid on December 26, 2023, to investors on record as of December 4, 2023. This dividend represents an annualized figure of $0.04, reflecting a yield of 0.0%. The company’s dividend payout ratio currently stands at 0.99%.
Founded in 1993, NVIDIA Corporation specializes in graphics, computing, and networking solutions. Its offerings encompass GeForce GPUs for gaming, the GeForce NOW game streaming service, and various enterprise-level graphics solutions. The company operates globally, with a significant presence in the United States, Taiwan, China, and Hong Kong.
For ongoing updates and detailed analyses, investors can visit HoldingsChannel.com to track the latest 13F filings and insider transactions related to NVIDIA Corporation.
