BFI Infinity Ltd. acquired a new stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 23,229 shares of the computer hardware maker's stock, valued at approximately $5,305,000. NVIDIA makes up about 2.5% of BFI Infinity Ltd.'s holdings, making the stock its 10th biggest position.
Several other large investors have also recently added to or reduced their stakes in NVDA. Cantor Fitzgerald Investment Advisors L.P. raised its holdings in NVIDIA by 2.1% in the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 23,373 shares of the computer hardware maker's stock valued at $5,338,000 after acquiring an additional 491 shares in the last quarter. Granite Islands Private Wealth LLC lifted its position in shares of NVIDIA by 7.3% during the 3rd quarter. Granite Islands Private Wealth LLC now owns 55,994 shares of the computer hardware maker's stock valued at $12,749,000 after acquiring an additional 3,789 shares during the period. Sherman Wealth Management LLC grew its holdings in shares of NVIDIA by 34.9% during the 3rd quarter. Sherman Wealth Management LLC now owns 11,110 shares of the computer hardware maker's stock worth $2,537,000 after purchasing an additional 2,872 shares in the last quarter. Michael J. Porro & Co. Financial Advisors Inc. grew its holdings in shares of NVIDIA by 21.3% during the 3rd quarter. Michael J. Porro & Co. Financial Advisors Inc. now owns 12,180 shares of the computer hardware maker's stock worth $2,782,000 after purchasing an additional 2,135 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC grew its holdings in shares of NVIDIA by 12.8% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 554 shares of the computer hardware maker's stock worth $126,000 after purchasing an additional 63 shares in the last quarter. Institutional investors own 65.27% of the company's stock.
NVIDIA Stock Performance
NASDAQ NVDA opened at $173.73 on Thursday. NVIDIA Corporation has a fifty-two week low of $164.27 and a fifty-two week high of $243.37. The firm's fifty day moving average price is $217.12 and its two-hundred day moving average price is $204.35. 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 cap of $4.19 trillion, a PE ratio of 21.96, a PEG ratio of 1.30 and a beta of 2.21.
NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results 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 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 business's quarterly revenue was up 105.9% on a year-over-year basis. During the same period last year, the company earned $1.05 earnings per share. On average, equities analysts expect that NVIDIA Corporation will post 9.30 EPS for the current fiscal year.
NVIDIA announced that its board has authorized a share buyback program on Monday, September 28th that allows the company to buy back $150 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to purchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.
NVIDIA Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Thursday, September 10th. NVIDIA's dividend payout ratio (DPR) is 12.64%.
Insider Activity at NVIDIA
In other news, EVP Timothy Teter sold 30,460 shares of NVIDIA stock in a transaction 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 approximately $598,810,648. The trade was a 1.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 NVIDIA 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 $541,187,310.22. This represents a 21.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,766,118 shares of company stock worth $399,450,353 in the last quarter. 3.94% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of brokerages recently commented on NVDA. Melius Research decreased their price target on NVIDIA from $420.00 to $315.00 and set a "buy" rating on the stock in a research report on Monday, November 2nd. Benchmark reaffirmed a "buy" rating and set a $335.00 price objective on shares of NVIDIA in a research report on Thursday, August 27th. Cantor Fitzgerald reiterated an "overweight" rating and set a $350.00 price objective on shares of NVIDIA in a research note on Thursday, October 1st. BMO Capital Markets set a $340.00 target price on shares of NVIDIA and gave the company an "outperform" rating in a report on Thursday, August 20th. Finally, Wells Fargo & Company decreased their target price on shares of NVIDIA from $315.00 to $300.00 and set an "overweight" rating on the stock in a report on Tuesday. Five research analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of "Buy" and an average target price of $314.24.
Read Our Latest Research Report on NVDA
More NVIDIA News
These are some of the NVDA news items that stood out recently:
- Positive Sentiment: NVIDIA’s planned $10 billion investment in Anthropic alongside its IPO could strengthen ties with a major AI customer, though the investment also represents a substantial commitment. Article: Nvidia and Alphabet to buy Anthropic stock
- Neutral Sentiment: Analyst views remain divided: Baird cut its rating to Neutral and sharply lowered its target, while Morgan Stanley retained an Overweight rating and a $300 target. Article: Analysts disagree on Nvidia
- Negative Sentiment: The New York Times reported a second alleged relationship involving Huang and a direct report; the Wall Street Journal separately reported that NVIDIA’s board is preparing to oust him. The reports raise leadership, governance, and succession concerns for a company closely associated with its longtime CEO. Article: Report on Huang’s future at Nvidia
About NVIDIA
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Free Report)
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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