Fifth Third Bancorp Has $2.37 Billion Position in NVIDIA Corporation $NVDA

Key Points

• Fifth Third Bancorp increased its NVIDIA stake by 37.9% in the first quarter, buying 3.73 million more shares and bringing its holding to 13.58 million shares worth about $2.37 billion. NVIDIA is now the bank’s largest position, making up about 4.3% of its portfolio.
• Analysts remain broadly bullish on NVIDIA, with multiple firms raising price targets and the consensus rating staying at Buy. MarketBeat says the average price target is $304.26, with 48 Buy ratings and 3 Strong Buy ratings.
• NVIDIA continues to post strong operating results, reporting $1.87 EPS and $81.61 billion in quarterly revenue, both above expectations. The company also raised its dividend, approved an $80 billion share buyback, and saw several insiders sell shares during the quarter.

Fifth Third Bancorp increased its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 37.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,581,861 shares of the computer hardware maker's stock after acquiring an additional 3,731,264 shares during the period. NVIDIA comprises approximately 4.3% of Fifth Third Bancorp's holdings, making the stock its largest position. Fifth Third Bancorp owned approximately 0.06% of NVIDIA worth $2,368,677,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its position in shares of NVIDIA by 1.2% during the fourth quarter. State Street Corp now owns 991,480,489 shares of the computer hardware maker's stock valued at $184,911,111,000 after buying an additional 11,451,386 shares during the last quarter. Geode Capital Management LLC raised its position in NVIDIA by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 588,803,093 shares of the computer hardware maker's stock worth $109,446,217,000 after buying an additional 3,383,441 shares during the last quarter. Norges Bank bought a new position in NVIDIA during the 4th quarter valued at about $62,244,133,000. Bank of America Corp DE lifted its stake in NVIDIA by 1.5% during the 4th quarter. Bank of America Corp DE now owns 187,181,484 shares of the computer hardware maker's stock valued at $34,909,347,000 after acquiring an additional 2,849,678 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of NVIDIA by 1.5% during the 3rd quarter. Legal & General Group Plc now owns 181,203,035 shares of the computer hardware maker's stock valued at $33,808,862,000 after acquiring an additional 2,609,560 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of research analyst reports. TD Cowen reiterated a "buy" rating and issued a $275.00 price target (up from $235.00) on shares of NVIDIA in a research note on Friday, May 15th. President Capital raised their target price on shares of NVIDIA from $280.00 to $295.00 and gave the stock a "buy" rating in a report on Thursday, May 21st. Zacks Research raised shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a research report on Monday. Morgan Stanley set a $288.00 target price on shares of NVIDIA and gave the company an "overweight" rating in a research note on Thursday, May 21st. Finally, Citic Securities increased their price target on NVIDIA from $242.00 to $315.00 and gave the company a "buy" rating in a report on Friday, May 22nd. Three investment analysts have rated the stock with a Strong Buy rating, forty-eight have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $304.26.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 885,000 shares of NVIDIA stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $210.17, for a total transaction of $186,000,450.00. Following the transaction, the director directly owned 5,207,271 shares of the company's stock, valued at $1,094,412,146.07. The trade was a 14.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Dabiri sold 625 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $214.00, for a total value of $133,750.00. Following the transaction, the director owned 14,163 shares of the company's stock, valued at approximately $3,030,882. This trade represents a 4.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,901,125 shares of company stock valued at $410,583,015. Company insiders own 3.94% of the company's stock.

Key Stories Impacting NVIDIA

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: NVIDIA and the Naval Postgraduate School said NVIDIA donated a supercomputer using its latest chips to a nonprofit tied to the institution, highlighting expanding adoption of its AI hardware in U.S. defense and research. Reuters: Nvidia donates supercomputer to U.S. military university
• Positive Sentiment: Bank of America said NVIDIA’s Vera CPU launch is intensifying the AI server CPU battle and kept a Buy rating with a $350 target, suggesting the company could expand beyond GPUs into a larger share of AI infrastructure spending. Yahoo Finance: BofA sees server CPU TAM hitting $170bn by 2030 as NVIDIA takes on AMD
• Positive Sentiment: Several articles highlighted NVIDIA as a beneficiary of the broader AI capex cycle, with bullish takes pointing to cheaper AI models, sovereign AI demand, and continued chip spending that could support long-term growth. Zacks: Can NVIDIA's Sovereign AI Push Unlock New Revenue Streams Now?
• Positive Sentiment: NVIDIA also gained support from market momentum and technical traders, with reports that the stock cleared an early buy trigger ahead of Alphabet earnings and that the semiconductor rebound is being treated as a positioning reset, not a collapse in demand. Investor's Business Daily: Nvidia Hits Buy Trigger With Alphabet Earnings Due

NVIDIA Stock Up 2.3%

NVDA opened at $212.06 on Thursday. The company has a current ratio of 3.44, a quick ratio of 2.85 and a debt-to-equity ratio of 0.04. NVIDIA Corporation has a 1-year low of $164.07 and a 1-year high of $236.54. The company has a market capitalization of $5.13 trillion, a PE ratio of 32.47, a PEG ratio of 0.40 and a beta of 2.21. The firm's 50 day simple moving average is $208.76 and its two-hundred day simple moving average is $195.59.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.11. NVIDIA had a net margin of 62.97% and a return on equity of 96.94%. The business had revenue of $81.61 billion for the quarter, compared to analysts' expectations of $78.42 billion. During the same quarter last year, the company posted $0.81 EPS. The company's revenue was up 85.2% compared to the same quarter last year. As a group, equities analysts forecast that NVIDIA Corporation will post 8.79 EPS for the current year.

NVIDIA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Thursday, June 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.5%. This is a boost from NVIDIA's previous quarterly dividend of $0.01. The ex-dividend date was Thursday, June 4th. NVIDIA's dividend payout ratio (DPR) is presently 15.31%.

NVIDIA declared that its board has authorized a share buyback program on Wednesday, May 20th that permits the company to repurchase $80.00 billion in shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

NVIDIA Company Profile

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company's product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

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