Detalus Advisors LLC Buys 13,115 Shares of NVIDIA Corporation $NVDA

Key Points

• Detalus Advisors LLC initiated a position in NVIDIA, purchasing 13,115 shares worth approximately $3 million in the third quarter. Institutional investors and hedge funds collectively own 65.27% of the company’s shares.
• NVIDIA’s latest reported quarter beat analyst expectations, with EPS of $2.22 and revenue of $96.22 billion, up 105.9% year over year. The company also authorized a $150 billion share-repurchase program.
• NVIDIA pays an annualized dividend of $1 per share, a 0.6% yield. Analysts cited in the article hold a consensus “Buy” rating and a $318.75 price target; insiders have sold about 1.77 million shares over the past 90 days.

Detalus Advisors LLC bought a new position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 13,115 shares of the computer hardware maker's stock, valued at approximately $2,995,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp lifted its stake in shares of NVIDIA by 1.6% in 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 acquiring an additional 15,897,836 shares during the period. Bank of America Corp DE boosted its holdings in NVIDIA by 2.2% in the second quarter. Bank of America Corp DE now owns 195,366,864 shares of the computer hardware maker's stock valued at $39,090,956,000 after acquiring an additional 4,165,875 shares during the last quarter. Amundi boosted its holdings in NVIDIA by 10.4% in the first quarter. Amundi now owns 133,768,018 shares of the computer hardware maker's stock valued at $23,329,141,000 after acquiring an additional 12,575,177 shares during the last quarter. Deutsche Bank AG boosted its holdings in NVIDIA by 2.3% in the second quarter. Deutsche Bank AG now owns 91,954,159 shares of the computer hardware maker's stock valued at $18,399,108,000 after acquiring an additional 2,045,101 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in NVIDIA by 0.6% during the 1st 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 period. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $168.93 on Wednesday. The company has a fifty day moving average of $217.99 and a 200-day moving average of $204.42. The firm has a market capitalization of $4.07 trillion, a P/E ratio of 25.89, a P/E/G ratio of 1.37 and a beta of 2.21. The company has a quick ratio of 3.85, a current ratio of 4.59 and a debt-to-equity ratio of 0.14. NVIDIA Corporation has a twelve month low of $164.27 and a twelve month high of $243.37.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.13. The business 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%. NVIDIA's revenue was up 105.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.05 earnings per share. As a group, sell-side analysts anticipate that NVIDIA Corporation will post 9.30 EPS for the current year.

NVIDIA announced that its Board of Directors has approved a share buyback plan on Monday, September 28th that permits the company to repurchase $150 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to purchase up to 2.8% of its shares through open market purchases. Share repurchase plans are generally an indication that the company's management believes its stock is undervalued.

NVIDIA Dividend Announcement

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

Insider Activity

In other news, EVP Timothy Teter sold 30,460 shares of the company's stock in a transaction dated 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. This represents 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 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 stock in a transaction dated 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 in the company, valued at $541,187,310.22. This trade represents a 21.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 1,766,118 shares of company stock worth $399,450,353. Company insiders own 3.94% of the company's stock.

NVIDIA News Roundup

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: NVIDIA, Rebellions and SK Telecom announced a collaboration to combine NVIDIA’s NVLink Fusion and infrastructure with Korean-designed AI processors, supporting the company’s effort to expand its platform and partnerships. Article: NVIDIA, Rebellions and SK Telecom collaboration
• Neutral Sentiment: Some analysts remain positive despite trimming targets: Citi lowered its target but kept a Buy rating, while Wells Fargo cut its target and maintained Overweight. Investors are also looking ahead to NVIDIA’s November 17 earnings report. Article: Nvidia Stock Falls as Citi Trims Price Target
• Negative Sentiment: The board has retained outside counsel for an independent investigation into reports that Huang was targeted by a foreign intelligence effort. FBI and congressional scrutiny raises risks of reputational damage, governance concerns and possible regulatory attention; investors are also focused on NVIDIA’s reliance on Huang and lack of a clear public succession plan. Article: Nvidia hires law firm to lead Jensen Huang probe
• Negative Sentiment: A report alleged that Huang’s relationship with Alice Huang helped facilitate at least $7.5 billion in chip shipments to Chinese firms, including companies reportedly subject to restrictions. The claims have not been established, and Reuters could not independently verify the report, but they intensify export-control and national-security concerns. Article: Why Nvidia Stock Just Fell Again
• Negative Sentiment: Shareholder securities class actions have been filed alleging investors were not adequately informed; the claims are allegations, not findings of wrongdoing. Separately, rising Treasury yields and a broader technology sell-off are weighing on growth-stock valuations. Article: NVIDIA securities class action notice

Analyst Ratings Changes

Several research analysts have issued reports on NVDA shares. Rosenblatt Securities restated a "buy" rating and set a $390.00 price target on shares of NVIDIA in a report on Tuesday, September 29th. Needham & Company LLC reaffirmed a "buy" rating and issued a $300.00 price objective on shares of NVIDIA in a research note on Wednesday, October 21st. Cantor Fitzgerald reiterated an "overweight" rating and set a $350.00 price objective on shares of NVIDIA in a research report on Thursday, October 1st. President Capital increased their price objective on shares of NVIDIA from $295.00 to $330.00 in a research report on Thursday, August 27th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of NVIDIA in a research note on Wednesday, August 26th. Five analysts have rated the stock with a Strong Buy rating, forty-eight have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $318.75.

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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