Milestone Asset Management LLC Acquires 38,658 Shares of NVIDIA Corporation $NVDA

Key Points

• Milestone Asset Management increased its NVIDIA stake 72.5% in the third quarter, buying 38,658 shares to reach 91,968 shares valued at about $21 million.
• Analysts’ consensus rating was Buy, with an average price target of $318.75; 53 analysts rated the stock Buy or Strong Buy, while two rated it Hold.
• NVIDIA reported quarterly revenue of $96.22 billion, up 105.9% year over year, and earnings of $2.22 per share, topping estimates. Its board also authorized a $150 billion share-repurchase plan.

Milestone Asset Management LLC increased its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 72.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 91,968 shares of the computer hardware maker's stock after purchasing an additional 38,658 shares during the period. NVIDIA makes up approximately 3.3% of Milestone Asset Management LLC's investment portfolio, making the stock its 4th largest position. Milestone Asset Management LLC's holdings in NVIDIA were worth $21,004,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of NVDA. Retirement Wealth Solutions LLC raised its stake in shares of NVIDIA by 1.2% in the second quarter. Retirement Wealth Solutions LLC now owns 4,121 shares of the computer hardware maker's stock valued at $825,000 after acquiring an additional 47 shares in the last quarter. LightSquare Wealth Management LLC raised its holdings in shares of NVIDIA by 0.3% in the 2nd quarter. LightSquare Wealth Management LLC now owns 18,695 shares of the computer hardware maker's stock valued at $3,741,000 after purchasing an additional 49 shares in the last quarter. Defender Capital LLC. raised its holdings in shares of NVIDIA by 0.7% in the 2nd quarter. Defender Capital LLC. now owns 7,534 shares of the computer hardware maker's stock valued at $1,507,000 after purchasing an additional 50 shares in the last quarter. Kooman & Associates raised its holdings in shares of NVIDIA by 0.6% in the 2nd quarter. Kooman & Associates now owns 8,464 shares of the computer hardware maker's stock valued at $1,694,000 after purchasing an additional 50 shares in the last quarter. Finally, Roof Eidam Maycock Peralta LLC lifted its position in shares of NVIDIA by 0.3% during the 2nd quarter. Roof Eidam Maycock Peralta LLC now owns 18,827 shares of the computer hardware maker's stock worth $3,767,000 after purchasing an additional 50 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Truist Financial boosted their target price on shares of NVIDIA from $307.00 to $346.00 and gave the stock a "buy" rating in a research note on Thursday, August 27th. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a report on Friday, October 9th. China Renaissance upped their price objective on NVIDIA from $319.00 to $330.00 and gave the stock a "buy" rating in a research report on Monday, August 31st. HSBC increased their price objective on NVIDIA from $360.00 to $365.00 in a report on Thursday, August 27th. Finally, JPMorgan Chase & Co. increased their price target on shares of NVIDIA from $280.00 to $320.00 and gave the company an "overweight" rating in a research note on Thursday, August 27th. Five research 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. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $318.75.

NVIDIA Price Performance

NVDA stock opened at $168.93 on Wednesday. The company has a market capitalization of $4.07 trillion, a P/E ratio of 21.36, a PEG ratio of 1.37 and a beta of 2.21. NVIDIA Corporation has a twelve month low of $164.27 and a twelve month high of $243.37. The business has a 50 day simple moving average of $217.99 and a 200-day simple moving average of $204.42. The company has a current ratio of 4.59, a quick ratio of 3.85 and a debt-to-equity ratio of 0.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 EPS for the quarter, beating analysts' consensus estimates of $2.09 by $0.13. NVIDIA had a net margin of 63.66% and a return on equity of 96.04%. The business had revenue of $96.22 billion for the quarter, compared to analysts' expectations of $92.27 billion. During the same period in the previous year, the company posted $1.05 EPS. The company's quarterly revenue was up 105.9% on a year-over-year basis. As a group, equities analysts anticipate that NVIDIA Corporation will post 9.30 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were given a dividend of $0.25 per share. 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 dividend payout ratio (DPR) is presently 12.64%.

NVIDIA declared that its Board of Directors has authorized a stock repurchase plan on Monday, September 28th that authorizes the company to buy back $150 billion in shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

NVIDIA News Summary

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

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 34,918 shares of the company's stock in a transaction dated 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 sale, the chief financial officer directly owned 765,103 shares of the company's stock, valued at approximately $167,595,812.15. This represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the director owned 2,336,531 shares of the company's stock, valued at $541,187,310.22. This trade represents a 21.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,766,118 shares of company stock worth $399,450,353. 3.94% of the stock is owned by company insiders.

About NVIDIA

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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