Mirae Asset Global Investments Co. Ltd. Decreases Stake in NVIDIA Corporation $NVDA

Key Points

• Mirae Asset Global Investments has reduced its stake in NVIDIA by 5.8%, now holding over 12 million shares valued at approximately $1.91 billion, making it the largest holding in their portfolio.
• NVIDIA reported a quarterly earnings per share of $1.05, surpassing estimates, with revenues of $46.74 billion, reflecting a 55.6% increase year-over-year.
• Despite the sale of shares by CEO Jen Hsun Huang, multiple analysts have maintained a "buy" rating for NVIDIA, with price targets ranging from $210 to $250.

Mirae Asset Global Investments Co. Ltd. lessened its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,116,987 shares of the computer hardware maker's stock after selling 743,418 shares during the quarter. NVIDIA makes up 6.7% of Mirae Asset Global Investments Co. Ltd.'s holdings, making the stock its biggest holding. Mirae Asset Global Investments Co. Ltd.'s holdings in NVIDIA were worth $1,914,363,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVDA. Pachira Investments Inc. grew its stake in shares of NVIDIA by 1.0% in the second quarter. Pachira Investments Inc. now owns 6,450 shares of the computer hardware maker's stock worth $1,019,000 after purchasing an additional 63 shares during the last quarter. HFG Wealth Management LLC grew its stake in shares of NVIDIA by 3.4% in the second quarter. HFG Wealth Management LLC now owns 2,075 shares of the computer hardware maker's stock worth $328,000 after purchasing an additional 68 shares during the last quarter. Hidden Cove Wealth Management LLC grew its stake in shares of NVIDIA by 0.3% in the second quarter. Hidden Cove Wealth Management LLC now owns 23,778 shares of the computer hardware maker's stock worth $3,757,000 after purchasing an additional 69 shares during the last quarter. Summit Financial Strategies Inc. grew its stake in shares of NVIDIA by 0.6% in the second quarter. Summit Financial Strategies Inc. now owns 11,637 shares of the computer hardware maker's stock worth $1,839,000 after purchasing an additional 69 shares during the last quarter. Finally, Burkett Financial Services LLC grew its stake in shares of NVIDIA by 1.3% in the second quarter. Burkett Financial Services LLC now owns 5,450 shares of the computer hardware maker's stock worth $861,000 after purchasing an additional 70 shares during the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $183.22 on Monday. The firm's 50-day moving average price is $179.40 and its 200-day moving average price is $153.63. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $195.62. The firm has a market capitalization of $4.45 trillion, a P/E ratio of 52.20, a P/E/G ratio of 1.32 and a beta of 2.12. The company has a current ratio of 4.21, a quick ratio of 3.60 and a debt-to-equity ratio of 0.08.

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

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were issued a dividend of $0.01 per share. The ex-dividend date was Thursday, September 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA's dividend payout ratio is currently 1.14%.

Insider Buying and Selling at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $181.01, for a total value of $13,575,750.00. Following the sale, the chief executive officer owned 70,333,203 shares in the company, valued at $12,731,013,075.03. This represents a 0.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders have sold 3,678,937 shares of company stock valued at $654,837,526. Corporate insiders own 4.17% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on NVDA. Loop Capital upped their price target on shares of NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. The Goldman Sachs Group set a $210.00 price target on shares of NVIDIA and gave the company a "buy" rating in a research report on Monday, October 6th. Citigroup reaffirmed a "buy" rating and set a $210.00 price target (up previously from $200.00) on shares of NVIDIA in a research report on Tuesday, September 30th. Craig Hallum upped their price target on shares of NVIDIA from $195.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Finally, Truist Financial upped their price target on shares of NVIDIA from $210.00 to $228.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Five investment analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, NVIDIA currently has an average rating of "Buy" and an average target price of $222.23.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.