RFP Financial Group LLC Decreases Stock Holdings in NVIDIA Corporation $NVDA

RFP Financial Group LLC reduced its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 37.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,637 shares of the computer hardware maker’s stock after selling 2,784 shares during the period. NVIDIA comprises about 0.4% of RFP Financial Group LLC’s portfolio, making the stock its 28th biggest holding. RFP Financial Group LLC’s holdings in NVIDIA were worth $865,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NVDA. State Street Corp boosted its position in shares of NVIDIA by 1.2% during the fourth quarter. State Street Corp now owns 991,480,489 shares of the computer hardware maker’s stock worth $184,911,111,000 after acquiring an additional 11,451,386 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of NVIDIA by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 588,803,093 shares of the computer hardware maker’s stock worth $109,446,217,000 after acquiring an additional 3,383,441 shares during the last quarter. Norges Bank bought a new position in shares of NVIDIA during the fourth quarter worth $62,244,133,000. Legal & General Group Plc boosted its position in shares of NVIDIA by 1.5% during the third quarter. Legal & General Group Plc now owns 181,203,035 shares of the computer hardware maker’s stock worth $33,808,862,000 after acquiring an additional 2,609,560 shares during the last quarter. Finally, Capital Research Global Investors boosted its position in shares of NVIDIA by 3.7% during the fourth quarter. Capital Research Global Investors now owns 171,562,742 shares of the computer hardware maker’s stock worth $31,996,599,000 after acquiring an additional 6,184,890 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NVDA. Fundamental Research set a $218.00 target price on shares of NVIDIA in a research report on Thursday, February 26th. The Goldman Sachs Group restated a “buy” rating and set a $285.00 target price (up from $250.00) on shares of NVIDIA in a research report on Wednesday, May 20th. Wall Street Zen upgraded shares of NVIDIA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 23rd. Citic Securities upped their target price on shares of NVIDIA from $242.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Finally, Jefferies Financial Group restated a “buy” rating and set a $300.00 target price (up from $275.00) on shares of NVIDIA in a research report on Thursday, May 21st. Three analysts have rated the stock with a Strong Buy rating, forty-eight have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, NVIDIA currently has an average rating of “Buy” and an average target price of $305.67.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 500,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $219.83, for a total value of $109,915,000.00. Following the transaction, the director owned 6,399,771 shares of the company’s stock, valued at $1,406,861,658.93. This trade represents a 7.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 42,650 shares of the firm’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $174.89, for a total transaction of $7,459,058.50. Following the completion of the transaction, the chief financial officer directly owned 881,387 shares in the company, valued at $154,145,772.43. This represents a 4.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,619,457 shares of company stock worth $332,073,643 over the last ninety days. 3.94% of the stock is owned by insiders.

Trending Headlines about NVIDIA

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: NVIDIA said it plans to raise about $20 billion through its first U.S. investment-grade bond offering since 2021. Investors appear to view the move as a sign of confidence in future cash flows and a way to fund massive AI-chip and infrastructure investments without stressing the balance sheet. Reuters article
• Positive Sentiment: The bond-sale news also reinforced the view that demand for NVIDIA’s AI hardware remains extremely strong, since the company is tapping debt markets to help meet capital needs tied to its AI leadership. CNBC article
• Positive Sentiment: Shares also benefited from a broader semiconductor and tech rally, with chip stocks and AI names trading strongly after improved market sentiment and reports of easing geopolitical tensions. 247WallSt article

NVIDIA Trading Up 3.5%

Shares of NVDA opened at $212.45 on Tuesday. NVIDIA Corporation has a twelve month low of $142.03 and a twelve month high of $236.54. The company has a market cap of $5.14 trillion, a P/E ratio of 32.53, a P/E/G ratio of 0.46 and a beta of 2.22. The company has a current ratio of 3.44, a quick ratio of 2.85 and a debt-to-equity ratio of 0.04. The company’s fifty day simple moving average is $207.54 and its 200-day simple moving average is $191.65.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.11. NVIDIA had a net margin of 62.97% and a return on equity of 96.94%. The business had revenue of $81.62 billion for the quarter, compared to the consensus estimate of $78.42 billion. During the same quarter in the prior year, the firm posted $0.81 earnings per share. The business’s revenue for the quarter was up 85.2% on a year-over-year basis. As a group, analysts expect that NVIDIA Corporation will post 8.65 EPS for the current year.

NVIDIA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Thursday, June 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $1.00 annualized dividend and a yield of 0.5%. This is a boost from NVIDIA’s previous quarterly dividend of $0.01. NVIDIA’s payout ratio is 15.31%.

NVIDIA declared that its board has approved a stock buyback program on Wednesday, May 20th that authorizes the company to repurchase $80.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Profile

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.