WealthPLAN Partners LLC boosted its position in NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 9.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 58,674 shares of the computer hardware maker’s stock after purchasing an additional 5,297 shares during the quarter. NVIDIA accounts for about 2.4% of WealthPLAN Partners LLC’s holdings, making the stock its 6th largest holding. WealthPLAN Partners LLC’s holdings in NVIDIA were worth $13,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of NVIDIA by 1.6% in 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 boosted its position in shares of NVIDIA by 2.2% during 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 acquiring an additional 4,165,875 shares during the last quarter. Amundi boosted its position in shares of NVIDIA by 10.4% during the 1st quarter. Amundi now owns 133,768,018 shares of the computer hardware maker’s stock valued at $23,329,141,000 after acquiring an additional 12,575,177 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of NVIDIA by 2.3% during the second 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 in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings 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 worth $16,479,126,000 after purchasing an additional 555,221 shares in the last quarter. 65.27% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
NVDA has been the topic of a number of recent analyst reports. Weiss Ratings downgraded shares of NVIDIA from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, November 2nd. Morgan Stanley set a $230.00 price target on shares of NVIDIA in a research note on Friday, October 2nd. BMO Capital Markets set a $340.00 price target on shares of NVIDIA and gave the stock an “outperform” rating in a report on Thursday, August 20th. Royal Bank Of Canada restated an “outperform” rating and set a $330.00 price objective on shares of NVIDIA in a research report on Monday. Finally, Aletheia Capital cut shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Monday. Five investment analysts have rated the stock with a Strong Buy rating, forty-eight have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $317.57.
Insider Activity at NVIDIA
In other NVIDIA news, Director Mark A. Stevens sold 622,239 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $231.62, for a total value of $144,122,997.18. Following the completion of the sale, the director directly owned 2,336,531 shares of the company’s stock, valued at $541,187,310.22. The trade was a 21.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 34,918 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer owned 765,103 shares of the company’s stock, valued at approximately $167,595,812.15. The trade was a 4.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,766,118 shares of company stock valued at $399,450,353. Insiders own 3.94% of the company’s stock.
Key Headlines Impacting NVIDIA
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
NVIDIA Stock Performance
Shares of NASDAQ NVDA opened at $178.67 on Tuesday. The stock has a market cap of $4.31 trillion, a price-to-earnings ratio of 22.59, a P/E/G ratio of 1.54 and a beta of 2.21. The company has a current ratio of 4.59, a quick ratio of 3.85 and a debt-to-equity ratio of 0.14. NVIDIA Corporation has a 1-year low of $164.27 and a 1-year high of $243.37. The stock’s 50-day moving average is $219.03 and its 200 day moving average is $204.50.
NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its quarterly earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.13. The business had revenue of $96.22 billion for the quarter, compared to analysts’ expectations of $92.27 billion. NVIDIA had a net margin of 63.66% and a return on equity of 96.04%. The business’s quarterly revenue was up 105.9% on a year-over-year basis. During the same period last year, the business earned $1.05 earnings per share. On average, sell-side analysts anticipate that NVIDIA Corporation will post 9.30 EPS for the current fiscal year.
NVIDIA Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. NVIDIA’s dividend payout ratio is 12.64%.
NVIDIA announced that its Board of Directors has authorized a stock repurchase plan on Monday, September 28th that authorizes the company to repurchase $150 billion in shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 2.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
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.
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