Birch Hill Investment Advisors LLC Buys 5,891 Shares of NVIDIA Corporation $NVDA

Key Points

• Birch Hill Investment Advisors increased its NVIDIA stake by 4.3%, buying 5,891 shares in the third quarter and ending the period with 141,977 shares valued at approximately $32.4 million.
• Institutional investors and hedge funds own 65.27% of NVIDIA shares. Company insiders sold 1.77 million shares worth about $399.5 million in the last quarter.
• Analyst sentiment remains broadly positive but mixed: MarketBeat reports a “Moderate Buy” consensus and an average price target of $277.89, alongside recent downgrades. NVIDIA’s latest reported quarterly revenue rose 105.9% year over year to $96.22 billion, beating estimates.

Birch Hill Investment Advisors LLC raised its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 4.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 141,977 shares of the computer hardware maker's stock after buying an additional 5,891 shares during the period. NVIDIA makes up approximately 1.4% of Birch Hill Investment Advisors LLC's holdings, making the stock its 22nd largest holding. Birch Hill Investment Advisors LLC's holdings in NVIDIA were worth $32,425,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NVDA. State Street Corp raised 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 purchasing an additional 15,897,836 shares during the last quarter. Bank of America Corp DE boosted its position in NVIDIA by 2.2% during the second quarter. Bank of America Corp DE now owns 195,366,864 shares of the computer hardware maker's stock worth $39,090,956,000 after purchasing an additional 4,165,875 shares in the last quarter. Amundi boosted its position in NVIDIA by 10.4% during the first quarter. Amundi now owns 133,768,018 shares of the computer hardware maker's stock worth $23,329,141,000 after purchasing an additional 12,575,177 shares in the last quarter. Deutsche Bank AG boosted its position in NVIDIA by 2.3% during the second quarter. Deutsche Bank AG now owns 91,954,159 shares of the computer hardware maker's stock worth $18,399,108,000 after purchasing an additional 2,045,101 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in NVIDIA by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 94,521,253 shares of the computer hardware maker's stock valued at $16,479,126,000 after purchasing an additional 555,221 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 34,918 shares of the firm's stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $219.05, for a total value of $7,648,787.90. Following the transaction, 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 ownership of the stock. 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, EVP Timothy Teter sold 30,460 shares of the firm's stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $222.80, for a total value of $6,786,488.00. Following the completion of the sale, the executive vice president directly owned 2,687,660 shares in the company, valued at approximately $598,810,648. This trade represents a 1.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,766,118 shares of company stock valued at $399,450,353 in the last quarter. Insiders own 3.94% of the company's stock.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of research analyst reports. UBS Group restated a "buy" rating on shares of NVIDIA in a research report on Friday, October 9th. William Blair lowered shares of NVIDIA from an "outperform" rating to a "market perform" rating in a research report on Thursday. Wall Street Zen cut shares of NVIDIA from a "strong-buy" rating to a "buy" rating in a research note on Saturday, October 24th. Royal Bank Of Canada set a $225.00 price objective on shares of NVIDIA in a research note on Thursday. Finally, KeyCorp downgraded shares of NVIDIA from an "overweight" rating to a "sector weight" rating in a report on Thursday. Five research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $277.89.

NVIDIA News Summary

Investors following NVDA have been watching these news items:

• Positive Sentiment: Despite cutting its price target to $300, Rosenblatt Securities maintained a Buy rating; other coverage also points to continued investor optimism about NVIDIA’s long-term growth potential. Rosenblatt Securities rating
• Negative Sentiment: Huang’s departure creates uncertainty around succession and strategy. CFO Colette Kress is interim CEO, and the board has not yet selected a search firm for a permanent replacement. CEO search update
• Negative Sentiment: HSBC downgraded NVIDIA to Hold with a $170 target, and several firms have reduced price targets. Analysts also warn that leadership uncertainty could give chip rivals more opportunity to win business. HSBC downgrade coverage

NVIDIA Stock Down 2.0%

Shares of NASDAQ:NVDA opened at $162.85 on Friday. The stock has a 50-day simple moving average of $214.64 and a 200-day simple moving average of $204.12. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.85 and a current ratio of 4.59. NVIDIA Corporation has a 1 year low of $148.80 and a 1 year high of $243.37. The stock has a market capitalization of $3.92 trillion, a P/E ratio of 20.59, a PEG ratio of 1.28 and a beta of 2.21.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data 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. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. The company had revenue of $96.22 billion for the quarter, compared to analysts' expectations of $92.27 billion. During the same quarter in the previous year, the firm posted $1.05 earnings per share. The firm's quarterly revenue was up 105.9% on a year-over-year basis. Equities analysts forecast that NVIDIA Corporation will post 9.29 earnings per share for the current year.

NVIDIA declared that its board has approved a share buyback plan on Monday, September 28th that authorizes the company to buy back $150 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to purchase up to 2.8% of its shares through open market purchases. Stock buyback plans are usually a sign that the company's board believes its shares are undervalued.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, September 10th. This represents a $1.00 annualized dividend and a yield of 0.6%. NVIDIA's dividend payout ratio is presently 12.64%.

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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