27,792 Shares in NVIDIA Corporation $NVDA Purchased by Reliant Investment Management LLC

Key Points

• Reliant Investment Management opened a new NVIDIA position, acquiring 27,792 shares worth about $6.35 million in the third quarter. The stock represents 2.2% of its portfolio and is its 21st-largest holding.
• NVIDIA reported quarterly EPS of $2.22, above the $2.09 analyst consensus, and revenue of $96.22 billion, up 105.9% year over year. The company also authorized a $150 billion share-repurchase program.
• Analysts maintain a consensus Buy rating with an average price target of $318.85; institutional investors and hedge funds own 65.27% of NVIDIA shares.

Reliant Investment Management LLC acquired a new position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 27,792 shares of the computer hardware maker's stock, valued at approximately $6,347,000. NVIDIA comprises 2.2% of Reliant Investment Management LLC's holdings, making the stock its 21st biggest position.

Several other large investors have also recently added to or reduced their stakes in the stock. Retirement Wealth Solutions LLC grew its position in shares of NVIDIA by 1.2% during the second quarter. Retirement Wealth Solutions LLC now owns 4,121 shares of the computer hardware maker's stock worth $825,000 after acquiring an additional 47 shares during the last quarter. LightSquare Wealth Management LLC increased its holdings in shares of NVIDIA by 0.3% in the 2nd quarter. LightSquare Wealth Management LLC now owns 18,695 shares of the computer hardware maker's stock worth $3,741,000 after acquiring an additional 49 shares during the period. Defender Capital LLC. lifted its position in NVIDIA by 0.7% in the 2nd quarter. Defender Capital LLC. now owns 7,534 shares of the computer hardware maker's stock valued at $1,507,000 after purchasing an additional 50 shares during the last quarter. Kooman & Associates lifted its position in NVIDIA by 0.6% in the 2nd quarter. Kooman & Associates now owns 8,464 shares of the computer hardware maker's stock valued at $1,694,000 after purchasing an additional 50 shares during the last quarter. Finally, Roof Eidam Maycock Peralta LLC lifted its position in NVIDIA by 0.3% in the 2nd quarter. Roof Eidam Maycock Peralta LLC now owns 18,827 shares of the computer hardware maker's stock valued at $3,767,000 after purchasing an additional 50 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $186.64 on Friday. The stock has a market cap of $4.50 trillion, a P/E ratio of 23.60, a P/E/G ratio of 1.43 and a beta of 2.21. The firm's 50-day simple moving average is $219.80 and its 200 day simple moving average is $204.53. NVIDIA Corporation has a fifty-two week low of $164.27 and a fifty-two week high of $243.37. 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 announced its earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.09 by $0.13. The firm had revenue of $96.22 billion during the quarter, compared to analyst estimates of $92.27 billion. NVIDIA had a net margin of 63.66% and a return on equity of 96.04%. NVIDIA's revenue was up 105.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.05 EPS. Equities analysts expect that NVIDIA Corporation will post 9.30 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th were issued a $0.25 dividend. The ex-dividend date was Thursday, September 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. NVIDIA's dividend payout ratio (DPR) is 12.64%.

NVIDIA announced that its board has approved a share buyback program 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 purchase up to 2.8% of its stock through open market purchases. Share repurchase programs are generally a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NVDA. Yorkville Ives began coverage on shares of NVIDIA in a research note on Tuesday, October 6th. They set an "outperform" rating and a $300.00 target price for the company. KGI Securities raised their price target on shares of NVIDIA from $335.00 to $345.00 in a research note on Thursday, August 27th. Stifel Nicolaus set a $315.00 price target on NVIDIA in a report on Thursday, August 27th. Mizuho set a $315.00 price objective on NVIDIA and gave the stock an "outperform" rating in a research report on Thursday, August 27th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $390.00 price objective on shares of NVIDIA in a research report on Tuesday, September 29th. Five research analysts have rated the stock with a Strong Buy rating, forty-eight have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $318.85.

NVIDIA News Summary

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 Activity

In related news, EVP Timothy Teter sold 30,460 shares of the firm's stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $222.80, for a total transaction of $6,786,488.00. Following the transaction, the executive vice president owned 2,687,660 shares in the company, valued at $598,810,648. This trade represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Colette Kress sold 34,918 shares of the business's stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $219.05, for a total value of $7,648,787.90. Following the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,766,118 shares of company stock worth $399,450,353 over the last three months. Corporate insiders own 3.94% of the company's stock.

NVIDIA Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.