Fragasso Financial Advisors Inc Sells 4,640 Shares of NVIDIA Corporation $NVDA

Key Points

• Fragasso Financial Advisors cut its NVIDIA holdings by 4,640 shares, or 3.6%, in the third quarter, ending the period with 124,642 shares valued at about $28.6 million.
• Analyst sentiment remains broadly positive: 5 analysts rate the stock Strong Buy and 48 rate it Buy, with a reported average price target of $318.85.
• NVIDIA beat quarterly earnings and revenue estimates, reporting $2.22 per share and $96.22 billion in revenue; it also authorized a $150 billion share-repurchase program.

Fragasso Financial Advisors Inc lessened its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,642 shares of the computer hardware maker's stock after selling 4,640 shares during the quarter. NVIDIA accounts for approximately 1.4% of Fragasso Financial Advisors Inc's portfolio, making the stock its 15th largest position. Fragasso Financial Advisors Inc's holdings in NVIDIA were worth $28,578,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. NorthCrest Asset Manangement LLC lifted its stake in shares of NVIDIA by 9.4% in the third quarter. NorthCrest Asset Manangement LLC now owns 1,148,556 shares of the computer hardware maker's stock valued at $264,719,000 after buying an additional 98,807 shares in the last quarter. DWR Wealth Management LLC grew its holdings in shares of NVIDIA by 5.9% during the third quarter. DWR Wealth Management LLC now owns 8,454 shares of the computer hardware maker's stock valued at $1,921,000 after buying an additional 468 shares during the last quarter. Haven Capital Group Inc. grew its holdings in shares of NVIDIA by 0.8% during the third quarter. Haven Capital Group Inc. now owns 49,101 shares of the computer hardware maker's stock valued at $11,214,000 after buying an additional 381 shares during the last quarter. Perpetual Ltd increased its position in shares of NVIDIA by 36.8% during the third quarter. Perpetual Ltd now owns 786,558 shares of the computer hardware maker's stock worth $179,634,000 after acquiring an additional 211,658 shares in the last quarter. Finally, Vertrix Wealth Management LLC increased its position in shares of NVIDIA by 6.3% during the third quarter. Vertrix Wealth Management LLC now owns 29,229 shares of the computer hardware maker's stock worth $6,675,000 after acquiring an additional 1,744 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Daiwa Securities Group lowered their target price on shares of NVIDIA from $255.00 to $245.00 and set an "outperform" rating on the stock in a report on Thursday, September 17th. Zacks Research upgraded NVIDIA from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 21st. Evercore set a $465.00 price objective on NVIDIA and gave the stock an "outperform" rating in a report on Thursday, August 27th. Wall Street Zen lowered NVIDIA from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 24th. Finally, Morgan Stanley set a $230.00 price objective on NVIDIA in a research note on Friday, October 2nd. Five research analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $318.85.

NVIDIA Trading Up 2.3%

NASDAQ:NVDA opened at $206.65 on Wednesday. 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 firm has a market cap of $4.98 trillion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 1.55 and a beta of 2.21. NVIDIA Corporation has a 52 week low of $164.27 and a 52 week high of $243.37. The firm has a 50-day moving average price of $221.45 and a two-hundred day moving average price of $204.44.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share for the quarter, topping analysts' consensus estimates of $2.09 by $0.13. The firm had revenue of $96.22 billion for 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 company's revenue was up 105.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 EPS. On average, equities analysts expect that NVIDIA Corporation will post 9.30 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 10th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Thursday, September 10th. NVIDIA's dividend payout ratio (DPR) is 12.64%.

NVIDIA announced that its board has initiated a share repurchase program on Monday, September 28th that authorizes the company to repurchase $150 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 2.8% of its shares through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other NVIDIA news, EVP Timothy Teter sold 30,460 shares of the business's stock in a transaction 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 transaction, the executive vice president owned 2,687,660 shares of the company's stock, valued at approximately $598,810,648. The trade was a 1.12% decrease in their ownership of the stock. The transaction 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, CFO Colette Kress sold 34,918 shares of the company's stock in a transaction on 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 completion of 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 position. 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 have sold 1,766,118 shares of company stock valued at $399,450,353. 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: The sector recovery helped NVIDIA rebound after four consecutive losing sessions. Some coverage also described the recent pullback as a potential buying opportunity, citing the company’s strong revenue growth and continued demand for AI chips. Nvidia stock up over 3%: what's driving Tuesday's rally?
• Positive Sentiment: NVIDIA’s proposed DSX POD modular design aims to shorten AI-factory deployment to 14 days. Faster installation could let customers put GPUs to work and generate returns sooner, potentially supporting infrastructure demand. Nvidia's New 14-Day AI Deployment Goal Could Unlock Faster Growth
• Neutral Sentiment: Reports say NVIDIA is asking cloud and data-center partners to ensure at least 51% of services sales come from customers outside China, in response to U.S. export rules. The move may help partners comply, but the reports do not quantify the effect on NVIDIA’s sales. What Is Nvidia Asking Cloud Clients To Change Under New China Rules?
• Negative Sentiment: Broader worries about the AI trade remain a headwind: reports point to a substantial recent decline in AI-stock valuations and hedge funds reducing exposure. A warning that Chinese AI-chip competitors could expand overseas adds to uncertainty ahead of NVIDIA’s November 17 earnings report. AI Stocks Lose $5 Trillion in 3 Weeks as Hedge Funds Go Underweight AI

NVIDIA Company Profile

NVIDIA Corporation NASDAQ: NVDA is a technology company that designs graphics processing units (GPUs), accelerated computing platforms, networking products and related software. Its technologies support artificial intelligence, machine learning, scientific computing, data analytics, professional visualization and computer graphics.

The company's products include GeForce GPUs for gaming and personal computing, data center GPUs and systems for AI and high-performance computing, and networking solutions used to connect and manage large-scale computing infrastructure.

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