7,522 NVIDIA Corporation $NVDA Shares Acquired by Triasima Portfolio Management inc.

Key Points

• Triasima Portfolio Management increased its NVIDIA stake by 14.6%, buying 7,522 shares in the third quarter to hold 59,171 shares valued at about $13.5 million.
• NVIDIA reported quarterly earnings of $2.22 per share, beating estimates, while revenue rose 105.9% year over year to $96.22 billion.
• The company authorized a $150 billion share-repurchase program; institutional investors collectively own 65.27% of its stock.

Triasima Portfolio Management inc. lifted its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 14.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,171 shares of the computer hardware maker's stock after acquiring an additional 7,522 shares during the quarter. NVIDIA accounts for approximately 1.7% of Triasima Portfolio Management inc.'s investment portfolio, making the stock its 14th largest holding. Triasima Portfolio Management inc.'s holdings in NVIDIA were worth $13,513,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVDA. Financial Harvest LLC raised its holdings in shares of NVIDIA by 15.3% in the 3rd quarter. Financial Harvest LLC now owns 12,696 shares of the computer hardware maker's stock valued at $2,900,000 after purchasing an additional 1,683 shares in the last quarter. Brindle & Bay Financial Advisors LLC lifted its holdings in NVIDIA by 46.8% during the third quarter. Brindle & Bay Financial Advisors LLC now owns 3,382 shares of the computer hardware maker's stock worth $772,000 after buying an additional 1,078 shares during the period. WealthPLAN Partners LLC boosted its position in NVIDIA by 9.9% during the 3rd quarter. WealthPLAN Partners LLC now owns 58,674 shares of the computer hardware maker's stock valued at $13,400,000 after acquiring an additional 5,297 shares in the last quarter. RDA Financial Network increased its holdings in shares of NVIDIA by 0.5% in the 3rd quarter. RDA Financial Network now owns 99,081 shares of the computer hardware maker's stock valued at $22,628,000 after acquiring an additional 466 shares during the period. Finally, PFG Private Wealth Management LLC bought a new position in shares of NVIDIA in the 3rd quarter worth $970,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $178.67 on Tuesday. NVIDIA Corporation has a 52 week low of $164.27 and a 52 week high of $243.37. The business's 50 day moving average price is $219.03 and its 200 day moving average price is $204.50. The company has a quick ratio of 3.85, a current ratio of 4.59 and a debt-to-equity ratio of 0.14. The firm has a market cap of $4.31 trillion, a P/E ratio of 22.59, a P/E/G ratio of 1.54 and a beta of 2.21.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 EPS for the quarter, beating the consensus estimate of $2.09 by $0.13. The business had revenue of $96.22 billion during 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% compared to the same quarter last year. During the same period in the previous year, the business posted $1.05 EPS. On average, sell-side analysts expect that NVIDIA Corporation will post 9.30 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were issued 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 yield of 0.6%. NVIDIA's payout ratio is presently 12.64%.

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

NVIDIA News Roundup

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

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of recent research reports. Aletheia Capital downgraded shares of NVIDIA from a "buy" rating to a "hold" rating in a report on Monday. Wedbush lifted their price target on shares of NVIDIA from $330.00 to $345.00 and gave the stock an "outperform" rating in a report on Thursday, August 27th. Benchmark reiterated a "buy" rating and set a $335.00 price objective on shares of NVIDIA in a report on Thursday, August 27th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of NVIDIA in a research report on Monday. Finally, Weiss Ratings cut NVIDIA from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, November 2nd. Five investment 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 stock. According to data from MarketBeat, NVIDIA presently has an average rating of "Buy" and a consensus price target of $317.57.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 34,918 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer owned 765,103 shares of the company's stock, valued at $167,595,812.15. This trade represents a 4.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Timothy Teter sold 30,460 shares of the stock in a transaction 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 sale, the executive vice president directly 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 SEC filing for this sale provides additional information. 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 worth $399,450,353. Corporate insiders own 3.94% of the company's stock.

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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