1248 Management LLC Buys 20,677 Shares of NVIDIA Corporation $NVDA

Key Points

• 1248 Management LLC increased its stake in NVIDIA Corporation by 56% this quarter, acquiring an additional 20,677 shares, bringing its total holdings to 57,621 shares worth approximately $6.25 million.
• Multiple analysts have issued positive ratings for NVIDIA, with price targets raised to as high as $245, indicating strong recommendations from four research firms.
• NVIDIA's recent quarterly earnings report exceeded expectations with a revenue of $46.74 billion and an EPS of $1.05, leading to a projected consensus target price of $207.83 for the stock.

1248 Management LLC grew its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 56.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,621 shares of the computer hardware maker's stock after purchasing an additional 20,677 shares during the period. NVIDIA makes up about 2.5% of 1248 Management LLC's portfolio, making the stock its 12th biggest position. 1248 Management LLC's holdings in NVIDIA were worth $6,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Astoria Portfolio Advisors LLC. raised its holdings in shares of NVIDIA by 0.9% in the first quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock worth $9,610,000 after buying an additional 864 shares during the period. Centerpoint Advisory Group raised its holdings in shares of NVIDIA by 2.5% in the first quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after buying an additional 943 shares during the period. GSB Wealth Management LLC raised its holdings in shares of NVIDIA by 3.3% in the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after buying an additional 1,043 shares during the period. Variant Private Wealth LLC raised its holdings in shares of NVIDIA by 20.6% in the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after buying an additional 3,206 shares during the period. Finally, Financial Perspectives Inc raised its holdings in shares of NVIDIA by 2.8% in the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after buying an additional 1,265 shares during the period. 65.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on NVDA. Sanford C. Bernstein restated an "outperform" rating and set a $225.00 price objective (up from $185.00) on shares of NVIDIA in a report on Thursday, August 28th. Craig Hallum raised their price objective on NVIDIA from $195.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Phillip Securities upgraded NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 14th. Jefferies Financial Group raised their price objective on NVIDIA from $200.00 to $205.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Finally, Summit Insights upgraded NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, NVIDIA presently has an average rating of "Moderate Buy" and a consensus target price of $207.83.

Insiders Place Their Bets

In other NVIDIA news, Director Dawn E. Hudson sold 18,000 shares of NVIDIA stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $172.00, for a total transaction of $3,096,000.00. Following the completion of the sale, the director owned 368,887 shares of the company's stock, valued at approximately $63,448,564. The trade was a 4.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 297,797 shares of NVIDIA stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $178.19, for a total value of $53,064,447.43. Following the transaction, the director owned 7,749,803 shares of the company's stock, valued at $1,380,937,396.57. The trade was a 3.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,405,552 shares of company stock valued at $721,811,877. 4.17% of the stock is owned by company insiders.

NVIDIA Stock Performance

Shares of NVDA opened at $177.75 on Tuesday. The stock has a 50-day moving average of $174.81 and a two-hundred day moving average of $142.18. NVIDIA Corporation has a one year low of $86.62 and a one year high of $184.48. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.60 and a current ratio of 4.21. The stock has a market cap of $4.32 trillion, a P/E ratio of 50.64, a P/E/G ratio of 1.29 and a beta of 2.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The computer hardware maker reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.04. NVIDIA had a return on equity of 101.74% and a net margin of 52.41%.The company had revenue of $46.74 billion during the quarter, compared to analysts' expectations of $45.65 billion. During the same quarter in the previous year, the firm posted $0.68 EPS. The firm's revenue was up 55.6% compared to the same quarter last year. NVIDIA has set its Q3 2026 guidance at EPS. As a group, research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. NVIDIA's payout ratio is currently 1.14%.

NVIDIA Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.

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