Kaufman Rossin Wealth LLC Acquires 5,532 Shares of NVIDIA Corporation $NVDA

Key Points

• Kaufman Rossin Wealth increased its NVIDIA stake by 46% in the third quarter, buying 5,532 shares to bring its holdings to 17,553 shares, valued at about $4.0 million.
• Analyst sentiment remains broadly positive: NVIDIA has a “Moderate Buy” consensus and an average price target of $277.89, although some analysts have downgraded the stock or lowered their targets.
• NVIDIA’s latest reported quarter beat estimates, with EPS of $2.22 and revenue of $96.22 billion, up 105.9% year over year. The company also authorized a share repurchase program of up to $150 billion.

Kaufman Rossin Wealth LLC increased its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 46.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,553 shares of the computer hardware maker's stock after purchasing an additional 5,532 shares during the quarter. NVIDIA makes up about 1.6% of Kaufman Rossin Wealth LLC's portfolio, making the stock its 13th largest holding. Kaufman Rossin Wealth LLC's holdings in NVIDIA were worth $4,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Jupiter Topco LLC bought a new position in NVIDIA in the 2nd quarter valued at approximately $16,156,076,000. Van ECK Associates Corp boosted its position in NVIDIA by 34.7% during the 2nd quarter. Van ECK Associates Corp now owns 75,849,721 shares of the computer hardware maker's stock worth $15,176,771,000 after buying an additional 19,522,304 shares during the period. State Street Corp grew its holdings in NVIDIA by 1.6% during the 2nd 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 last quarter. Amundi grew its holdings in NVIDIA by 10.4% during the 1st quarter. Amundi now owns 133,768,018 shares of the computer hardware maker's stock worth $23,329,141,000 after acquiring an additional 12,575,177 shares during the last quarter. Finally, Nykredit A S bought a new stake in NVIDIA during the 2nd quarter worth approximately $2,315,956,000. Institutional investors and hedge funds own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NVDA shares. Royal Bank Of Canada set a $225.00 price target on shares of NVIDIA in a research report on Thursday. Wall Street Zen lowered shares of NVIDIA from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 24th. Truist Financial cut shares of NVIDIA from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $346.00 to $174.00 in a research note on Thursday. Sanford C. Bernstein set a $200.00 price objective on shares of NVIDIA and gave the stock a "market perform" rating in a research note on Thursday. Finally, Piper Sandler started coverage on NVIDIA in a report on Wednesday, September 9th. They issued an "overweight" rating and a $300.00 price objective for the company. Five 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 data from MarketBeat, NVIDIA currently has a consensus rating of "Moderate Buy" and an average target price of $277.89.

Insider Transactions at NVIDIA

In other news, EVP Timothy Teter sold 30,460 shares of the business's stock in a transaction dated 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 directly owned 2,687,660 shares of the company's stock, valued at $598,810,648. The trade was a 1.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 company's stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $231.62, for a total value of $144,122,997.18. Following the sale, the director owned 2,336,531 shares in the company, valued at approximately $541,187,310.22. The trade was a 21.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,766,118 shares of company stock valued at $399,450,353. Corporate insiders own 3.94% of the company's stock.

NVIDIA News Summary

Investors following NVDA have been watching these news items:

• Positive Sentiment: Investors will look to the November 17 earnings report for evidence that AI demand remains robust. Articles cite strong infrastructure spending and a $108 billion revenue outlook as potential supports for the business. NVIDIA earnings preview
• 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 Trading Down 2.0%

NASDAQ NVDA traded down $3.34 during mid-day trading on Friday, reaching $162.85. 363,372,273 shares of the stock were exchanged, compared to its average volume of 196,617,360. NVIDIA Corporation has a one year low of $148.80 and a one year high of $243.37. The stock has a 50 day simple moving average of $214.64 and a 200-day simple moving average of $204.12. The stock has a market cap of $3.92 trillion, a P/E ratio of 20.59, a P/E/G ratio of 1.28 and a beta of 2.21. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.59 and a quick ratio of 3.85.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share (EPS) for the quarter, beating 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 for the quarter was up 105.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 earnings per share. On average, analysts anticipate that NVIDIA Corporation will post 9.29 EPS for the current year.

NVIDIA Announces Dividend

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

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

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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