NVIDIA Corporation $NVDA Shares Acquired by Summit Financial Consulting LLC

Summit Financial Consulting LLC lifted its position in NVIDIA Corporation (NASDAQ:NVDA) by 268.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,113 shares of the computer hardware maker’s stock after purchasing an additional 3,727 shares during the quarter. NVIDIA comprises 0.9% of Summit Financial Consulting LLC’s holdings, making the stock its 18th largest position. Summit Financial Consulting LLC’s holdings in NVIDIA were worth $1,168,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp lifted its stake 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 during the period. Bank of America Corp DE lifted its position in NVIDIA by 2.2% during the second 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 boosted its holdings in NVIDIA by 10.4% in the first 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 last quarter. Dimensional Fund Advisors LP boosted its holdings in NVIDIA by 0.6% in 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 during the last quarter. Finally, Deutsche Bank AG grew its position in NVIDIA by 2.3% during the 2nd quarter. Deutsche Bank AG now owns 91,954,159 shares of the computer hardware maker’s stock worth $18,399,108,000 after purchasing an additional 2,045,101 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $168.93 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.85 and a current ratio of 4.59. The firm has a fifty day moving average of $217.99 and a 200 day moving average of $204.42. The firm has a market cap of $4.07 trillion, a PE ratio of 21.36, a PEG ratio of 1.37 and a beta of 2.21. NVIDIA Corporation has a one year low of $164.27 and a one year high of $243.37.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.13. NVIDIA had a net margin of 63.66% and a return on equity of 96.04%. The business had revenue of $96.22 billion for the quarter, compared to the consensus estimate of $92.27 billion. During the same period last year, the firm posted $1.05 earnings per share. The company’s revenue was up 105.9% compared to the same quarter last year. As a group, research analysts predict that NVIDIA Corporation will post 9.30 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has approved a stock buyback program on Monday, September 28th that permits the company to repurchase $150 billion in shares. This buyback authorization permits the computer hardware maker to repurchase up to 2.8% of its shares through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, September 10th. NVIDIA’s dividend payout ratio is 12.64%.

Insider Activity at NVIDIA

In other NVIDIA news, EVP Timothy S. Teter sold 30,460 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $222.80, for a total transaction 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. The trade was a 1.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark A. Stevens sold 622,239 shares of the business’s stock in a transaction that occurred on 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 sale, the director 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,766,118 shares of company stock valued at $399,450,353. 3.94% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NVDA has been the subject of several analyst reports. Benchmark reissued a “buy” rating and issued a $335.00 price objective on shares of NVIDIA in a report on Thursday, August 27th. DZ Bank reaffirmed a “buy” rating on shares of NVIDIA in a report on Wednesday, August 26th. Sanford C. Bernstein reiterated an “outperform” rating on shares of NVIDIA in a research report on Monday. Zacks Research upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 21st. Finally, Piper Sandler initiated coverage on shares of NVIDIA in a research note on Wednesday, September 9th. They set an “overweight” rating and a $300.00 price objective on the stock. Five equities research analysts have rated the stock with a Strong Buy rating, forty-eight have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $318.75.

Key Headlines Impacting NVIDIA

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: NVIDIA, Rebellions and SK Telecom announced a collaboration to combine NVIDIA’s NVLink Fusion and infrastructure with Korean-designed AI processors, supporting the company’s effort to expand its platform and partnerships. Article: NVIDIA, Rebellions and SK Telecom collaboration
• Neutral Sentiment: Some analysts remain positive despite trimming targets: Citi lowered its target but kept a Buy rating, while Wells Fargo cut its target and maintained Overweight. Investors are also looking ahead to NVIDIA’s November 17 earnings report. Article: Nvidia Stock Falls as Citi Trims Price Target
• Negative Sentiment: The board has retained outside counsel for an independent investigation into reports that Huang was targeted by a foreign intelligence effort. FBI and congressional scrutiny raises risks of reputational damage, governance concerns and possible regulatory attention; investors are also focused on NVIDIA’s reliance on Huang and lack of a clear public succession plan. Article: Nvidia hires law firm to lead Jensen Huang probe
• Negative Sentiment: A report alleged that Huang’s relationship with Alice Huang helped facilitate at least $7.5 billion in chip shipments to Chinese firms, including companies reportedly subject to restrictions. The claims have not been established, and Reuters could not independently verify the report, but they intensify export-control and national-security concerns. Article: Why Nvidia Stock Just Fell Again
• Negative Sentiment: Shareholder securities class actions have been filed alleging investors were not adequately informed; the claims are allegations, not findings of wrongdoing. Separately, rising Treasury yields and a broader technology sell-off are weighing on growth-stock valuations. Article: NVIDIA securities class action notice

NVIDIA 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.