N10 Assets LLC trimmed its position in NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,755 shares of the computer hardware maker’s stock after selling 3,359 shares during the quarter. NVIDIA accounts for 7.6% of N10 Assets LLC’s holdings, making the stock its 2nd largest holding. N10 Assets LLC’s holdings in NVIDIA were worth $20,727,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Boyd Wealth Management LLC raised its holdings in shares of NVIDIA by 273.4% in the second quarter. Boyd Wealth Management LLC now owns 9,145 shares of the computer hardware maker’s stock worth $1,830,000 after buying an additional 6,696 shares during the last quarter. Ally Financial Inc. grew its stake in NVIDIA by 10.3% during the 2nd quarter. Ally Financial Inc. now owns 172,000 shares of the computer hardware maker’s stock valued at $34,415,000 after purchasing an additional 16,000 shares during the last quarter. Altshuler Shaham Ltd grew its stake in NVIDIA by 6,451.9% during the 1st quarter. Altshuler Shaham Ltd now owns 637,236 shares of the computer hardware maker’s stock valued at $111,134,000 after purchasing an additional 627,510 shares during the last quarter. Vanguard Capital Wealth Advisors increased its holdings in shares of NVIDIA by 5.6% in the second quarter. Vanguard Capital Wealth Advisors now owns 52,163 shares of the computer hardware maker’s stock valued at $10,437,000 after purchasing an additional 2,758 shares during the period. Finally, Baker Tilly Wealth Management LLC increased its holdings in shares of NVIDIA by 7.4% in the second quarter. Baker Tilly Wealth Management LLC now owns 71,898 shares of the computer hardware maker’s stock valued at $14,386,000 after purchasing an additional 4,958 shares during the period. Institutional investors own 65.27% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on NVDA shares. Royal Bank Of Canada lifted their target price on NVIDIA from $300.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. BMO Capital Markets set a $340.00 price target on shares of NVIDIA and gave the stock an “outperform” rating in a research report on Thursday, August 20th. Rosenblatt Securities restated a “buy” rating and set a $390.00 price objective on shares of NVIDIA in a research note on Tuesday, September 29th. UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a report on Friday, October 9th. Finally, Oppenheimer set a $315.00 price objective on shares of NVIDIA and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Five investment analysts have rated the stock with a Strong Buy rating, forty-eight have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $318.85.
Key Headlines Impacting NVIDIA
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
Insider Buying and Selling
In other NVIDIA news, Director Mark Stevens sold 622,239 shares of the company’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $231.62, for a total transaction of $144,122,997.18. Following the completion of the transaction, the director directly owned 2,336,531 shares in the company, valued at approximately $541,187,310.22. This represents a 21.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Colette Kress sold 34,918 shares of the stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $219.05, for a total transaction of $7,648,787.90. Following the transaction, the chief financial officer directly owned 765,103 shares in the company, valued at approximately $167,595,812.15. The trade was a 4.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 1,766,118 shares of company stock valued at $399,450,353. 3.94% of the stock is owned by corporate insiders.
NVIDIA Stock Performance
NASDAQ NVDA traded up $5.04 during mid-day trading on Friday, reaching $186.64. 179,613,679 shares of the stock were exchanged, compared to its average volume of 100,673,888. The business’s 50 day moving average is $219.80 and its 200-day moving average is $204.53. NVIDIA Corporation has a 1 year low of $164.27 and a 1 year high of $243.37. The company has a market capitalization of $4.50 trillion, a P/E ratio of 23.60, a P/E/G ratio of 1.55 and a beta of 2.21. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.85 and a current ratio of 4.59.
NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its quarterly earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.13. The company had revenue of $96.22 billion for the quarter, compared to the consensus estimate of $92.27 billion. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. NVIDIA’s revenue for the quarter was up 105.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.05 earnings per share. On average, equities research analysts forecast that NVIDIA Corporation will post 9.30 EPS for the current fiscal year.
NVIDIA Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, September 10th. NVIDIA’s payout ratio is presently 12.64%.
NVIDIA declared that its board has authorized a stock repurchase plan on Monday, September 28th that permits the company to buy back $150 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to reacquire up to 2.8% of its shares through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
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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