AdvisorNet Financial Inc Purchases 7,302 Shares of NVIDIA Corporation $NVDA

Key Points

• AdvisorNet Financial increased its NVIDIA stake by 5.6%, buying 7,302 shares in the third quarter to hold 137,551 shares valued at $30.44 million.
• Analyst sentiment remains broadly positive: NVIDIA has a consensus “Buy” rating and a $317.57 average price target. Its latest reported quarter beat estimates, with revenue up 105.9% year over year.
• Investors face potential headline risks from reports prompting an independent board investigation and possible legal or congressional scrutiny; NVIDIA says it has no reason to believe company secrets were compromised.

AdvisorNet Financial Inc lifted its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 137,551 shares of the computer hardware maker's stock after purchasing an additional 7,302 shares during the quarter. NVIDIA comprises about 1.4% of AdvisorNet Financial Inc's investment portfolio, making the stock its 15th biggest position. AdvisorNet Financial Inc's holdings in NVIDIA were worth $30,440,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NVDA. Barlow Wealth Partners LLC raised its position in NVIDIA by 0.8% during the 3rd quarter. Barlow Wealth Partners LLC now owns 227,473 shares of the computer hardware maker's stock valued at $54,421,000 after purchasing an additional 1,697 shares in the last quarter. Blueline Advisors LLC grew its holdings in NVIDIA by 40.8% during the 3rd quarter. Blueline Advisors LLC now owns 1,690 shares of the computer hardware maker's stock worth $386,000 after acquiring an additional 490 shares in the last quarter. Triasima Portfolio Management inc. grew its holdings in NVIDIA by 14.6% during the 3rd quarter. Triasima Portfolio Management inc. now owns 59,171 shares of the computer hardware maker's stock worth $13,513,000 after acquiring an additional 7,522 shares in the last quarter. Financial Harvest LLC grew its holdings in NVIDIA by 15.3% during the 3rd quarter. Financial Harvest LLC now owns 12,696 shares of the computer hardware maker's stock worth $2,900,000 after acquiring an additional 1,683 shares in the last quarter. Finally, Brindle & Bay Financial Advisors LLC increased its position in NVIDIA by 46.8% during the 3rd quarter. Brindle & Bay Financial Advisors LLC now owns 3,382 shares of the computer hardware maker's stock valued at $772,000 after purchasing an additional 1,078 shares during the period. 65.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of recent research reports. President Capital boosted their price objective on shares of NVIDIA from $295.00 to $330.00 in a research note on Thursday, August 27th. Benchmark reaffirmed a "buy" rating and set a $335.00 target price on shares of NVIDIA in a research report on Thursday, August 27th. Citigroup reiterated a "buy" rating and issued a $315.00 price target (up from $300.00) on shares of NVIDIA in a report on Thursday, August 27th. Zacks Research upgraded NVIDIA from a "hold" rating to a "strong-buy" rating in a report on Monday, September 21st. Finally, Mizuho set a $250.00 price target on NVIDIA in a research report on Monday. Five research analysts have rated the stock with a Strong Buy rating, forty-eight have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $317.57.

Insider Transactions at NVIDIA

In other news, EVP Timothy Teter sold 30,460 shares of the 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 sale, the executive vice president owned 2,687,660 shares in the company, valued at $598,810,648. This 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, Director Mark Stevens sold 622,239 shares of the firm's stock in a transaction on Friday, September 4th. The stock was 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,766,118 shares of company stock worth $399,450,353 over the last 90 days. 3.94% of the stock is currently owned by company insiders.

Key Stories 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 Down 4.3%

Shares of NVDA stock opened at $178.67 on Tuesday. The stock's 50-day simple moving average is $219.03 and its 200-day simple moving average is $204.50. 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 firm has a market capitalization of $4.31 trillion, a PE ratio of 22.59, a P/E/G ratio of 1.54 and a beta of 2.21. NVIDIA Corporation has a fifty-two week low of $164.27 and a fifty-two week high of $243.37.

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

NVIDIA Dividend Announcement

The firm 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. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, September 10th. NVIDIA's dividend payout ratio is 12.64%.

NVIDIA announced that its board has approved a stock repurchase program on Monday, September 28th that authorizes the company to buy back $150 billion in shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 2.8% of its shares through open market purchases. Share buyback programs are typically a sign that the company's board of directors believes its stock is 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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