Allstate Corp Sells 237,507 Shares of NVIDIA Corporation $NVDA

Key Points

• Allstate Corp. reduced its NVIDIA stake by 17.7%, selling 237,507 shares and retaining 1.10 million shares worth approximately $221 million. Institutional investors collectively own 65.27% of NVIDIA.
• NVIDIA reported quarterly earnings of $2.22 per share and revenue of $96.22 billion, exceeding analyst estimates, while revenue increased 105.9% year over year.
• Insiders sold 1.77 million NVIDIA shares worth about $399.5 million over the past 90 days, even as the company authorized a $150 billion share-buyback program. Analysts maintain a consensus “Buy” rating with an average price target of $321.89.

Allstate Corp lessened its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 17.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,104,410 shares of the computer hardware maker's stock after selling 237,507 shares during the period. NVIDIA accounts for approximately 2.2% of Allstate Corp's portfolio, making the stock its 7th largest position. Allstate Corp's holdings in NVIDIA were worth $220,981,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Boyd Wealth Management LLC boosted its stake in NVIDIA by 273.4% during the 2nd quarter. Boyd Wealth Management LLC now owns 9,145 shares of the computer hardware maker's stock worth $1,830,000 after purchasing an additional 6,696 shares during the period. Altshuler Shaham Ltd grew its holdings in shares of NVIDIA by 6,451.9% during the first quarter. Altshuler Shaham Ltd now owns 637,236 shares of the computer hardware maker's stock worth $111,134,000 after buying an additional 627,510 shares during the last quarter. Storen Legacy Partners LLC purchased a new position in shares of NVIDIA during the fourth quarter worth about $1,350,000. Baker Tilly Wealth Management LLC increased its position in NVIDIA by 7.4% in the 2nd quarter. Baker Tilly Wealth Management LLC now owns 71,898 shares of the computer hardware maker's stock valued at $14,386,000 after acquiring an additional 4,958 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in NVIDIA by 3.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 26,652,420 shares of the computer hardware maker's stock valued at $4,970,704,000 after acquiring an additional 936,506 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.

Insider Activity

In other news, 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 of the company's stock, valued at approximately $598,810,648. This trade represents a 1.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Stevens sold 622,239 shares of the company'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 sale, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,766,118 shares of company stock valued at $399,450,353. Company insiders own 3.94% of the company's stock.

NVIDIA Stock Down 2.9%

NVIDIA stock opened at $230.48 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's fifty day moving average is $222.09 and its two-hundred day moving average is $209.29. NVIDIA Corporation has a fifty-two week low of $164.27 and a fifty-two week high of $243.37. The firm has a market capitalization of $5.55 trillion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 1.83 and a beta of 2.22.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released 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 company had revenue of $96.22 billion for 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%. The firm's quarterly revenue was up 105.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.05 EPS. Analysts predict that NVIDIA Corporation will post 9.25 EPS for the current fiscal year.

NVIDIA announced that its board has initiated a stock buyback program on Monday, September 28th that permits the company to buyback $150.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to buy up to 2.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

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 given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.4%. NVIDIA's dividend payout ratio is presently 12.64%.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of recent research reports. UBS Group set a $300.00 price objective on NVIDIA and gave the stock a "buy" rating in a research report on Thursday, August 27th. The Goldman Sachs Group reiterated a "buy" rating on shares of NVIDIA in a research report on Thursday, September 10th. China Renaissance boosted their price objective on shares of NVIDIA from $319.00 to $330.00 and gave the company a "buy" rating in a research note on Monday, August 31st. Melius Research set a $420.00 price objective on shares of NVIDIA in a research report on Thursday, August 27th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of NVIDIA in a report on Wednesday, August 26th. Five equities research analysts have rated the stock with a Strong Buy rating, forty-nine have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, NVIDIA currently has a consensus rating of "Buy" and an average target price of $321.89.

NVIDIA News Summary

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: SpaceX is reportedly seeking approximately $40 billion in debt financing to purchase NVIDIA GPUs, potentially creating a major future order and reinforcing demand for the company’s data-center products. Apollo, banks in talks to finance SpaceX's $40 billion Nvidia GPU purchase
• Positive Sentiment: TSMC reported record quarterly revenue of roughly $46.7 billion, up 50% year over year, indicating that demand for advanced AI processors—including NVIDIA’s products—remains robust. Nvidia and AMD fuel a $46.7B TSMC quarter
• Positive Sentiment: NVIDIA committed $1 billion over five years to U.S. science initiatives spanning artificial intelligence, quantum computing, healthcare and energy security. The investment may strengthen government relationships and expand long-term technology adoption. NVIDIA Commits $1 Billion to Advance US Science
• Positive Sentiment: BNP Paribas Exane upgraded NVIDIA to “strong buy,” while Microsoft and PC manufacturers unveiled systems using NVIDIA’s RTX Spark chips, supporting expansion into local and personal AI computing. NVIDIA Stock Lifted to Strong-Buy
• Neutral Sentiment: A large options trade reportedly bets on additional upside, but the signal is speculative and does not change NVIDIA’s underlying earnings outlook. Nvidia Stock Slips. A Big Options Trade Signals Where It Might Go Next
• Negative Sentiment: OpenAI’s reported annualized revenue of about $50 billion was below a previously circulated $68 billion figure, prompting a selloff across AI stocks and raising questions about the pace of AI monetization. Nvidia, Oracle, CoreWeave and other AI stocks sink on OpenAI revenue report
• Negative Sentiment: Firmus, an NVIDIA-backed cloud-computing company, abandoned plans for a major Australian IPO, citing market conditions. The failed offering highlights tightening investor appetite for AI infrastructure financing. NVIDIA’s proposed $20 billion Groq transaction also faces a Delaware lawsuit alleging improper deal structuring, adding legal risk. Nvidia-Backed Firmus Scraps Australian IPO

NVIDIA Company Profile

NVIDIA Corporation is a technology company that designs accelerated computing platforms, graphics processing units (GPUs), central processing units (CPUs), networking products and related software. Its technologies are used in artificial intelligence, data centers, scientific and technical computing, gaming, professional visualization, automotive systems and robotics.

The company's products include GeForce GPUs and gaming software, data center computing platforms, networking solutions, and enterprise software for AI development and deployment.

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