Wincap Financial LLC significantly increased its stake in NVIDIA Corporation (NASDAQ: NVDA) by 118.5% during the second quarter of 2023, as reported in its latest 13F filing with the Securities and Exchange Commission (SEC). The investment firm now holds 32,061 shares of NVIDIA, following the acquisition of an additional 17,385 shares during the quarter. As of the filing, NVIDIA represents 4.1% of Wincap Financial’s total portfolio, marking it as the firm’s fifth largest holding with a value of approximately $5,065,000.
This move reflects a broader trend as several institutional investors and hedge funds have adjusted their positions in NVIDIA. Notably, Harbor Asset Planning Inc. entered the market with a new stake valued at about $28,000, while Legend Financial Advisors Inc. acquired shares worth approximately $55,000. Kathleen S. Wright Associates Inc. increased its holdings by 169.3%, now owning 404 shares valued at $44,000, after acquiring an additional 254 shares in the last quarter. Westend Capital Management LLC and Copia Wealth Management also boosted their stakes during the second quarter, reflecting a growing confidence in NVIDIA’s prospects.
Analysts Optimistic About NVIDIA’s Future
Recent changes in analyst ratings further underscore the optimism surrounding NVIDIA. On September 17, Daiwa Capital Markets revised its target price from $165.00 to $205.00, assigning an “outperform” rating. Citic Securities also raised its price objective from $237.00 to $242.00, maintaining a “buy” rating. Other notable upgrades include KeyCorp, which adjusted its target price to $275.00, and Stifel Nicolaus, which set a new target of $250.00.
Currently, four analysts rate NVIDIA’s stock as a Strong Buy, while forty-six have assigned it a Buy rating. According to MarketBeat.com, NVIDIA has an average rating of “Buy” and an average price target set at $257.79.
On the trading front, NVIDIA shares opened at $182.55 on Tuesday. The stock has experienced a volatile year, with a low of $86.62 and a high of $212.19. With a market capitalization of $4.44 trillion and a price-to-earnings (P/E) ratio of 52.01, NVIDIA continues to attract both investor interest and analytical scrutiny.
Quarterly Earnings and Upcoming Dividend
In its latest quarterly earnings report released on November 19, NVIDIA reported earnings of $1.30 per share, exceeding analysts’ expectations of $1.23 by $0.07. The company generated revenue of $57.01 billion, significantly above the anticipated $54.66 billion, marking a year-over-year revenue increase of 62.5%. NVIDIA reported a remarkable return on equity of 101.74% and a net margin of 52.41%.
In addition to these financial results, NVIDIA announced a quarterly dividend of $0.01 per share, set to be distributed on December 26, 2023. Shareholders on record as of December 4 will receive this dividend, which reflects an annualized payment of $0.04.
Insider trading has also been notable, with CEO Jen Hsun Huang selling 25,000 shares on October 29 at an average price of $207.91, totaling approximately $5,197,750. CFO Colette Kress also sold 27,640 shares at an average price of $208.33 on November 3, amounting to about $5,758,241.20. Over the past ninety days, insiders have sold a total of 3,251,577 shares valued at $583,143,187.
Overall, NVIDIA continues to show strong performance and investor interest, setting the stage for further developments in the technology sector. As institutional stakes rise and analysts remain positive, the company’s trajectory appears promising in the competitive landscape of computer hardware and graphics solutions.
