WealthPlan Investment Management LLC increased its position in NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 4.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 273,587 shares of the computer hardware maker’s stock after purchasing an additional 11,103 shares during the period. NVIDIA accounts for about 2.9% of WealthPlan Investment Management LLC’s investment portfolio, making the stock its 3rd biggest holding. WealthPlan Investment Management LLC’s holdings in NVIDIA were worth $62,482,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jupiter Topco LLC acquired a new position in shares of NVIDIA in the 2nd quarter worth approximately $16,156,076,000. Van ECK Associates Corp raised its position in shares of NVIDIA by 34.7% during the 2nd quarter. Van ECK Associates Corp now owns 75,849,721 shares of the computer hardware maker’s stock valued at $15,176,771,000 after acquiring an additional 19,522,304 shares in the last quarter. State Street Corp raised its position in shares of NVIDIA by 1.6% during the 2nd quarter. State Street Corp now owns 1,009,783,437 shares of the computer hardware maker’s stock valued at $202,047,568,000 after acquiring an additional 15,897,836 shares in the last quarter. Amundi lifted its stake in NVIDIA by 10.4% during the first quarter. Amundi now owns 133,768,018 shares of the computer hardware maker’s stock worth $23,329,141,000 after purchasing an additional 12,575,177 shares during the last quarter. Finally, Nykredit A S bought a new position in NVIDIA during the second quarter worth $2,315,956,000. 65.27% of the stock is owned by institutional investors.
Insider Buying and Selling at NVIDIA
In other news, EVP Timothy S. Teter sold 30,460 shares of the company’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $222.80, for a total transaction of $6,786,488.00. Following the completion of the transaction, the executive vice president owned 2,687,660 shares in the company, valued at approximately $598,810,648. This represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Colette Kress sold 34,918 shares of the stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $219.05, for a total transaction of $7,648,787.90. Following the completion of the sale, the chief financial officer directly owned 765,103 shares in the company, valued at approximately $167,595,812.15. This trade represents a 4.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,766,118 shares of company stock worth $399,450,353. 3.94% of the stock is owned by insiders.
NVIDIA Stock Performance
Shares of NASDAQ NVDA opened at $186.64 on Monday. The company has a market cap of $4.50 trillion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 1.43 and a beta of 2.21. NVIDIA Corporation has a 12-month low of $164.27 and a 12-month high of $243.37. The company has a current ratio of 4.59, a quick ratio of 3.85 and a debt-to-equity ratio of 0.14. The stock’s 50 day simple moving average is $219.80 and its 200 day simple moving average is $204.53.
NVIDIA (NASDAQ:NVDA – Get Free Report) last released its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.13. The business had revenue of $96.22 billion during the quarter, compared to analyst estimates of $92.27 billion. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. The business’s revenue for the quarter was up 105.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 EPS. Equities research analysts expect that NVIDIA Corporation will post 9.30 EPS for the current year.
NVIDIA declared that its board has approved a stock repurchase program on Monday, September 28th that permits the company to repurchase $150 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to buy up to 2.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
NVIDIA Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Thursday, September 10th. NVIDIA’s dividend payout ratio (DPR) is presently 12.64%.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. Evercore set a $465.00 price objective on shares of NVIDIA and gave the stock an “outperform” rating in a report on Thursday, August 27th. Morgan Stanley set a $230.00 target price on shares of NVIDIA in a report on Friday, October 2nd. JPMorgan Chase & Co. increased their target price on shares of NVIDIA from $280.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday, August 27th. Citigroup restated a “buy” rating and issued a $315.00 price target (up from $300.00) on shares of NVIDIA in a research report on Thursday, August 27th. Finally, China Renaissance lifted their price target on shares of NVIDIA from $319.00 to $330.00 and gave the company a “buy” rating in a report on Monday, August 31st. Five equities research analysts have rated the stock with a Strong Buy rating, forty-eight have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, NVIDIA has an average rating of “Buy” and an average target price of $318.85.
Read Our Latest Stock Analysis on NVDA
NVIDIA News Roundup
Here are the key news stories impacting NVIDIA this week:
- Positive Sentiment: Some investors see the decline as a buying opportunity, citing NVIDIA’s strong AI-chip position and profitability. ARK Invest also reportedly added $45.9 million of NVDA shares during the sell-off. Nvidia Stock Rises on Dip-Buying: 3 Reasons to Be Optimistic
- Positive Sentiment: CEO Jensen Huang says the next-generation Vera Rubin platform could generate more revenue per gigawatt of data-center capacity than the current platform, supporting the case for continued growth. Jensen Huang Says Nvidia’s Next-Gen Vera Rubin Chips Will Generate $40 Billion in Revenue per Gigawatt
- Neutral Sentiment: NVIDIA’s upcoming Nov. 17 results are a key near-term catalyst: investors will look for evidence that demand and guidance can ease fears about AI spending and justify the stock’s recovery. Nvidia Investors Need to Be Paying Attention on Nov. 17
- Negative Sentiment: The rebound follows a steep sell-off that wiped roughly $450 billion from NVIDIA’s market value. Investors are worried that a Democratic-led Congress, data-center permitting or regulatory hurdles, high capital costs, and uncertain returns could delay infrastructure projects and weaken future chip demand. AI stocks hammered by midterm shock as data center buildout becomes a ‘war of attrition’
- Negative Sentiment: Reports that NVIDIA may be taking on greater exposure to financially strained “neocloud” customers raise concern that it could face risks beyond selling chips if those providers struggle to fund data centers. As neoclouds face a financial reckoning, Nvidia has to decide how far to go to help
NVIDIA Company Profile
NVIDIA Corporation develops graphics processing units (GPUs), accelerated computing platforms and related software. Founded in 1993, the company first became widely known for GPUs used in PC gaming and professional graphics. Its technology now also supports artificial intelligence, scientific computing and other data-intensive applications.
NVIDIA’s offerings include GeForce products for gaming, data-center GPUs and systems for AI workloads, and networking products that connect computing infrastructure.
See Also
- Five stocks we like better than NVIDIA
- Lemonade’s Revenue Soars 73%—So Why Did Its Stock Turn Sour After Earnings?
- Anthropic’s S-1 Strengthens the Case for Broadcom’s AI Growth
- After the Midterms, Which of These 3 Defense ETFs Looks Strongest?
- The Ugly Truth Behind SoundHound’s Q3 Results
Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Corporation (NASDAQ:NVDA – Free Report).
Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.
