Empire Life Investments Inc. Buys 109,438 Shares of NVIDIA Corporation $NVDA

Key Points

• Empire Life Investments Inc. increased its holdings in NVIDIA Corporation by 178.5% in Q1, acquiring an additional 109,438 shares to total 170,763 shares worth approximately $18.5 million.
• Insider activity reveals that Director Tench Coxe sold 1 million shares, reducing his ownership by 3.61%, while total insider sales over the past 90 days amounted to approximately $788 million.
• NVIDIA's stock has seen upgrades from analysts, with target prices raised, including an increase by Wells Fargo from $185 to $220 and a consensus rating of "Moderate Buy."

Empire Life Investments Inc. lifted its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 178.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 170,763 shares of the computer hardware maker's stock after acquiring an additional 109,438 shares during the quarter. Empire Life Investments Inc.'s holdings in NVIDIA were worth $18,507,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NVDA. GAMMA Investing LLC increased its position in shares of NVIDIA by 12,173.2% in the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock valued at $5,293,039,000 after acquiring an additional 48,439,859 shares during the last quarter. Northern Trust Corp grew its holdings in NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Assenagon Asset Management S.A. grew its holdings in NVIDIA by 204.6% during the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock worth $3,864,026,000 after purchasing an additional 23,948,733 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in NVIDIA during the fourth quarter worth about $2,987,733,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in NVIDIA by 11.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 200,898,191 shares of the computer hardware maker's stock worth $26,978,618,000 after purchasing an additional 20,494,402 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Analysts Set New Price Targets

NVDA has been the subject of a number of research analyst reports. Wedbush reiterated an "outperform" rating and set a $210.00 price target on shares of NVIDIA in a report on Thursday, August 28th. The Goldman Sachs Group restated a "buy" rating and set a $200.00 price objective on shares of NVIDIA in a report on Wednesday, August 27th. Rosenblatt Securities lifted their price target on NVIDIA from $200.00 to $215.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Cantor Fitzgerald restated an "overweight" rating and issued a $240.00 price target on shares of NVIDIA in a research note on Thursday, August 28th. Finally, Bank of America boosted their price target on NVIDIA from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $207.69.

NVIDIA Trading Down 2.7%

NASDAQ NVDA traded down $4.64 on Friday, reaching $167.02. The company had a trading volume of 223,875,375 shares, compared to its average volume of 167,410,624. The firm has a market cap of $4.06 trillion, a price-to-earnings ratio of 47.58, a P/E/G ratio of 1.25 and a beta of 2.10. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $184.48. The business has a 50 day moving average of $172.73 and a two-hundred day moving average of $140.20. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.21 and a quick ratio of 3.60.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The computer hardware maker reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.04. The business had revenue of $46.74 billion during the quarter, compared to the consensus estimate of $45.65 billion. NVIDIA had a return on equity of 101.74% and a net margin of 52.41%.NVIDIA's quarterly revenue was up 55.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. NVIDIA has set its Q3 2026 guidance at EPS. Analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. NVIDIA's dividend payout ratio is 1.14%.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $169.65, for a total transaction of $12,723,750.00. Following the sale, the chief executive officer owned 72,698,366 shares of the company's stock, valued at approximately $12,333,277,791.90. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Dawn E. Hudson sold 18,000 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $172.00, for a total transaction of $3,096,000.00. Following the sale, the director directly owned 368,887 shares in the company, valued at $63,448,564. This trade represents a 4.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,872,755 shares of company stock worth $764,283,330 in the last ninety days. Insiders own 4.17% of the company's stock.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.