Leelyn Smith LLC has reduced its stake in NVIDIA Corporation (NASDAQ: NVDA) by 4.9% during the third quarter of 2023. According to the firm’s latest 13F filing with the U.S. Securities and Exchange Commission, Leelyn Smith LLC now holds 85,418 shares of the technology company following the sale of 4,415 shares during this period. NVIDIA represents approximately 2.4% of Leelyn Smith LLC’s portfolio, making it the firm’s seventh largest holding.
As of the most recent filing, the value of Leelyn Smith LLC’s holdings in NVIDIA stands at $15,937,000. This adjustment comes amid a broader trend among institutional investors modifying their positions in NVIDIA. Notable changes include Websterrogers Financial Advisors LLC, which increased its stake by 2.6%, bringing its total to 2,118 shares valued at $395,000 after acquiring an additional 54 shares. Similarly, Helen Stephens Group LLC raised its holdings by 3.9%, now owning 1,483 shares worth $277,000 after purchasing an extra 56 shares.
Investor activity at NVIDIA has been dynamic, with multiple firms adjusting their positions. Morton Brown Family Wealth LLC increased its stake by 1.5%, now holding 3,928 shares valued at $621,000, while Roof Eidam Maycock Peralta LLC added 0.3% to its holdings, totaling 20,903 shares worth $3,302,000. Alpha Wealth Funds LLC also boosted its stake by 1.3%, bringing its total to 4,634 shares valued at $732,000. Collectively, institutional investors and hedge funds own approximately 65.27% of NVIDIA’s stock.
Analysts have recently provided mixed reviews regarding NVIDIA shares. On January 12, 2024, Zacks Research downgraded NVIDIA from a “strong-buy” to a “hold” rating. Conversely, Arete Research raised its price target from $244.00 to $261.00, assigning a “buy” rating. William Blair reiterated an “outperform” rating, while Argus reaffirmed a “buy” recommendation with a target price of $220.00. Additionally, Needham & Company LLC reaffirmed its “buy” rating and set a price target of $240.00. According to MarketBeat, the stock currently holds a consensus rating of “Buy” with an average price target of $264.20.
Recent price performance for NVIDIA has also attracted attention. Shares opened at $190.20 on January 12, 2024, with the company boasting a market capitalization of $4.62 trillion. The stock has experienced a 52-week low of $86.62 and a high of $212.19. Its current price-to-earnings ratio stands at 47.20, indicating a robust valuation by market standards.
NVIDIA’s financials further cement the company’s solid standing. On November 19, 2023, the firm reported earnings of $1.30 per share, exceeding analyst expectations of $1.23 by $0.07. The company achieved revenue of $57.01 billion, surpassing estimates of $54.66 billion. This represents a significant year-on-year increase of 62.5% in revenue compared to the same quarter in 2022, where earnings per share were just $0.81.
In terms of dividends, NVIDIA recently declared a quarterly dividend of $0.01 per share, paid on December 26, 2023, to shareholders on record as of December 4, 2023. This results in an annualized dividend yield of 0.0% with a payout ratio of 0.99%.
Insider trading activity has also been notable. CFO Colette Kress sold 30,500 shares on December 12, 2023, at an average price of $178.11, totaling approximately $5,432,355. Following this sale, she retains 1,286,826 shares valued at about $229,196,578.86. Additionally, EVP Ajay K. Puri sold 200,000 shares on January 7, 2024, for a total of $37,564,000, representing a 4.98% decrease in his ownership.
As of now, insiders own approximately 4.17% of NVIDIA’s stock, indicating a significant presence of institutional ownership in this prominent technology firm.
Founded in 1993 and headquartered in Santa Clara, California, NVIDIA Corporation has evolved from a graphics chipmaker into a leader in accelerated computing, with a diverse portfolio that includes graphics processing units (GPUs) and system-on-chip (SoC) technologies for various industries. With its continued innovation and strategic adjustments in ownership, NVIDIA remains a key player in the technology sector.
For further insights into NVIDIA’s ownership and insider trading activities, stakeholders can access detailed reports and updates through financial platforms such as HoldingsChannel.com.
