Ninety One UK Ltd cut its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 7.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,733,853 shares of the computer hardware maker’s stock after selling 829,700 shares during the period. NVIDIA accounts for 5.7% of Ninety One UK Ltd’s portfolio, making the stock its 2nd biggest position. Ninety One UK Ltd’s holdings in NVIDIA were worth $2,451,397,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NVDA. State Street Corp boosted its position in 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. Bank of America Corp DE lifted its stake in shares of NVIDIA by 2.2% in the 2nd quarter. Bank of America Corp DE now owns 195,366,864 shares of the computer hardware maker’s stock valued at $39,090,956,000 after purchasing an additional 4,165,875 shares during the period. Amundi lifted its stake in shares of NVIDIA by 10.4% in the 1st quarter. Amundi now owns 133,768,018 shares of the computer hardware maker’s stock valued at $23,329,141,000 after purchasing an additional 12,575,177 shares during the period. Deutsche Bank AG lifted its stake in shares of NVIDIA by 2.3% in the 2nd quarter. Deutsche Bank AG now owns 91,954,159 shares of the computer hardware maker’s stock valued at $18,399,108,000 after purchasing an additional 2,045,101 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of NVIDIA by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 94,521,253 shares of the computer hardware maker’s stock valued at $16,479,126,000 after purchasing an additional 555,221 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.
NVIDIA Price Performance
Shares of NASDAQ NVDA opened at $178.67 on Tuesday. NVIDIA Corporation has a twelve month low of $164.27 and a twelve month high of $243.37. The firm has a market cap of $4.31 trillion, a P/E ratio of 22.59, a PEG ratio of 1.54 and a beta of 2.21. The company has a 50 day moving average of $219.03 and a 200 day moving average of $204.50. The company has a quick ratio of 3.85, a current ratio of 4.59 and a debt-to-equity ratio of 0.14.
NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.13. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. The business had revenue of $96.22 billion during the quarter, compared to analyst estimates of $92.27 billion. During the same quarter last year, the company earned $1.05 EPS. The company’s quarterly revenue was up 105.9% compared to the same quarter last year. As a group, research analysts expect that NVIDIA Corporation will post 9.30 EPS for the current fiscal year.
NVIDIA announced that its Board of Directors has initiated a stock buyback program on Monday, September 28th that authorizes the company to buy back $150 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 2.8% of its shares through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
NVIDIA Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. NVIDIA’s dividend payout ratio (DPR) is 12.64%.
Insider Buying and Selling
In related news, EVP Timothy Teter sold 30,460 shares of NVIDIA stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $222.80, for a total value of $6,786,488.00. Following the completion of the sale, the executive vice president directly owned 2,687,660 shares in the company, valued at approximately $598,810,648. This trade represents a 1.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Stevens sold 622,239 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $231.62, for a total value of $144,122,997.18. Following the completion of the transaction, the director directly owned 2,336,531 shares of the company’s stock, valued at approximately $541,187,310.22. This trade represents a 21.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,766,118 shares of company stock worth $399,450,353. 3.94% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on NVDA shares. DA Davidson reaffirmed a “buy” rating and issued a $300.00 price target on shares of NVIDIA in a research note on Thursday, August 27th. DZ Bank reissued a “buy” rating on shares of NVIDIA in a research report on Wednesday, August 26th. Cantor Fitzgerald restated an “overweight” rating and set a $350.00 target price on shares of NVIDIA in a report on Thursday, October 1st. Phillip Securities upped their target price on shares of NVIDIA from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, August 31st. Finally, Oppenheimer set a $315.00 price target on shares of NVIDIA and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Five equities research analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Buy” and a consensus price target of $317.57.
Check Out Our Latest Stock Analysis on NVIDIA
NVIDIA News Summary
Here are the key news stories impacting NVIDIA this week:
- Positive Sentiment: NVIDIA’s underlying business remains strong: its latest reported quarter beat estimates, with revenue up 105.9% year over year. That growth may help support the stock if the controversy does not disrupt operations. Article: Jensen Huang Might Be the Biggest Wild Card for Nvidia Stock
- Positive Sentiment: The company also announced a South Korean AI-infrastructure collaboration with Rebellions and SK Telecom, extending use of NVIDIA’s NVLink platform. Article: NVIDIA, Rebellions and SK Telecom Announce Collaboration
- Neutral Sentiment: NVIDIA’s board has begun an independent investigation into reports that Huang was targeted by a foreign intelligence effort. The board said it has no reason to believe company secrets or national security were compromised; Huang says he is cooperating. The outcome remains uncertain. Article: Statement from NVIDIA Board of Directors
- Negative Sentiment: The investigation follows Huang’s admission of an affair with Alice Huang, a former executive at a company that buys NVIDIA chips, who U.S. intelligence reportedly suspects of links to Chinese intelligence. Investors are concerned about potential exposure of sensitive information, reputational damage, and complications for NVIDIA’s China business. Article: Nvidia Shares Slump on Spy Probe
- Negative Sentiment: Shareholder litigation and possible congressional scrutiny add legal and regulatory risks. Questions about Huang’s future also weigh on sentiment, as reports say NVIDIA has no clear public succession plan for its founder and long-serving CEO. Article: Nvidia’s CEO Turmoil Gives Democrats Fresh Ammunition for Oversight Article: Jensen Huang Affair Puts Nvidia’s Future at Risk
About NVIDIA
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.
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