ABLE Financial Group LLC Acquires 3,689 Shares of NVIDIA Corporation $NVDA

Key Points

• ABLE Financial Group increased its NVIDIA stake by 7.4% in the third quarter, adding 3,689 shares to hold 53,365 shares valued at about $12.2 million. NVIDIA represented roughly 1.9% of the fund’s portfolio.
• Other institutional investors also expanded positions, and institutions collectively owned 65.27% of NVIDIA shares, according to the article.
• NVIDIA beat quarterly earnings and revenue estimates, while its board authorized a $150 billion share-repurchase program. Analysts’ consensus rating was “Buy,” with an average price target of $318.85.

ABLE Financial Group LLC grew its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,365 shares of the computer hardware maker's stock after buying an additional 3,689 shares during the quarter. NVIDIA accounts for about 1.9% of ABLE Financial Group LLC's holdings, making the stock its 16th biggest position. ABLE Financial Group LLC's holdings in NVIDIA were worth $12,187,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Jupiter Topco LLC acquired a new position in NVIDIA in the second quarter valued at $16,156,076,000. Van ECK Associates Corp lifted its holdings in shares of NVIDIA by 34.7% during the 2nd quarter. Van ECK Associates Corp now owns 75,849,721 shares of the computer hardware maker's stock worth $15,176,771,000 after acquiring an additional 19,522,304 shares during the period. State Street Corp grew its holdings in NVIDIA by 1.6% during the second quarter. State Street Corp now owns 1,009,783,437 shares of the computer hardware maker's stock worth $202,047,568,000 after buying an additional 15,897,836 shares in the last quarter. Amundi lifted its holdings 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 worth $23,329,141,000 after acquiring an additional 12,575,177 shares during the last quarter. Finally, Nykredit A S bought a new stake in NVIDIA during the 2nd quarter valued at about $2,315,956,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Up 2.8%

Shares of NVIDIA stock opened at $186.64 on Friday. 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 stock has a market capitalization of $4.50 trillion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 1.55 and a beta of 2.21. The company's 50 day moving average price is $219.80 and its 200-day moving average price is $204.53. NVIDIA Corporation has a 52-week low of $164.27 and a 52-week high of $243.37.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.13. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. The firm had revenue of $96.22 billion during the quarter, compared to the consensus estimate of $92.27 billion. During the same period in the previous year, the company posted $1.05 earnings per share. The firm's quarterly revenue was up 105.9% on a year-over-year basis. Equities research analysts forecast that NVIDIA Corporation will post 9.30 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Thursday, September 10th. NVIDIA's dividend payout ratio is presently 12.64%.

NVIDIA announced that its board has authorized 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 purchase up to 2.8% of its shares through open market purchases. Share repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have weighed in on NVDA. KGI Securities boosted their price objective on NVIDIA from $335.00 to $345.00 in a research note on Thursday, August 27th. Stifel Nicolaus set a $315.00 price target on shares of NVIDIA in a research note on Thursday, August 27th. Royal Bank Of Canada boosted their target price on NVIDIA from $300.00 to $330.00 and gave the stock an "outperform" rating in a research report on Thursday, August 27th. Zacks Research raised shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 21st. Finally, Morgan Stanley set a $230.00 target price on NVIDIA in a research note on Friday, October 2nd. Five analysts have rated the stock with a Strong Buy rating, forty-eight have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $318.85.

More NVIDIA News

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 at NVIDIA

In related news, Director Mark Stevens sold 622,239 shares of the firm's stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $231.62, for a total transaction of $144,122,997.18. Following the transaction, the director directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy Teter sold 30,460 shares of the firm's stock in a transaction on Monday, September 21st. The shares were sold at an average price of $222.80, for a total value of $6,786,488.00. Following the transaction, the executive vice president owned 2,687,660 shares in the company, valued at approximately $598,810,648. This trade represents a 1.12% 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 quarter, insiders have sold 1,766,118 shares of company stock valued at $399,450,353. 3.94% of the stock is owned by insiders.

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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