NVIDIA Corporation $NVDA Holdings Decreased by Howard Capital Management Group LLC

Key Points

• Howard Capital Management cut its NVIDIA stake by 1.3% in the third quarter, selling 12,346 shares. It still held 917,401 shares worth about $209.5 million, making NVIDIA its largest position.
• Other major institutional investors, including State Street and Bank of America, increased their holdings; institutional investors and hedge funds collectively owned 65.27% of NVIDIA shares.
• NVIDIA insiders sold about 1.77 million shares worth roughly $399.5 million over the prior 90 days. Separately, the company authorized a $150 billion share repurchase program.

Howard Capital Management Group LLC trimmed its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 917,401 shares of the computer hardware maker's stock after selling 12,346 shares during the quarter. NVIDIA comprises 13.1% of Howard Capital Management Group LLC's holdings, making the stock its biggest position. Howard Capital Management Group LLC's holdings in NVIDIA were worth $209,516,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. State Street Corp boosted its stake in NVIDIA by 1.6% during the second quarter. State Street Corp now owns 1,009,783,437 shares of the computer hardware maker's stock valued at $202,047,568,000 after buying an additional 15,897,836 shares in the last quarter. Bank of America Corp DE raised its position in NVIDIA by 2.2% in the second quarter. Bank of America Corp DE now owns 195,366,864 shares of the computer hardware maker's stock worth $39,090,956,000 after acquiring an additional 4,165,875 shares in the last quarter. Amundi raised its position in NVIDIA by 10.4% in the first 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 in the last quarter. Dimensional Fund Advisors LP raised its position in NVIDIA by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 94,521,253 shares of the computer hardware maker's stock worth $16,479,126,000 after acquiring an additional 555,221 shares in the last quarter. Finally, Deutsche Bank AG raised its position in NVIDIA by 2.3% in the second quarter. Deutsche Bank AG now owns 91,954,159 shares of the computer hardware maker's stock worth $18,399,108,000 after acquiring an additional 2,045,101 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 34,918 shares of the firm's stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $219.05, for a total transaction of $7,648,787.90. Following the completion of the sale, the chief financial officer directly owned 765,103 shares in the company, valued at approximately $167,595,812.15. This trade represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark A. Stevens sold 622,239 shares of the business's stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $231.62, for a total transaction of $144,122,997.18. Following the transaction, the director directly owned 2,336,531 shares in the company, valued at $541,187,310.22. The trade was a 21.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,766,118 shares of company stock valued at $399,450,353. Company insiders own 3.94% of the company's stock.

More NVIDIA News

These are some of the NVDA news items that stood out recently:

• Positive Sentiment: Some investors see the selloff as an opportunity: retail traders reportedly bought about $111 million of NVDA in the first 30 minutes of trading. Bullish commentary points to NVIDIA’s established AI business and continuing infrastructure demand. Article: Huang Exit Fuels Nvidia Bulls
• Neutral Sentiment: Kress’s experience as CFO and the board’s assurance that customer commitments and the product roadmap will continue provide some operational continuity, though she is serving only on an interim basis. NVIDIA’s fiscal Q3 report on Nov. 17 is the next key test for demand, guidance and confidence in the transition. Article: Colette Kress named interim CEO
• Negative Sentiment: Several analysts downgraded the stock or cut price targets, citing leadership, governance and China-related risks. A securities class action adds another source of uncertainty for shareholders. Article: Nvidia Stock Just Got Downgraded

NVIDIA Stock Down 4.3%

NVDA stock opened at $166.19 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.59 and a quick ratio of 3.85. The firm has a market capitalization of $4.01 trillion, a P/E ratio of 21.01, a P/E/G ratio of 1.34 and a beta of 2.21. NVIDIA Corporation has a 52-week low of $148.80 and a 52-week high of $243.37. The company's 50 day simple moving average is $215.96 and its 200-day simple moving average is $204.25.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 EPS for the quarter, topping 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 firm had revenue of $96.22 billion during the quarter, compared to analyst estimates of $92.27 billion. During the same quarter last year, the business posted $1.05 EPS. The company's revenue was up 105.9% on a year-over-year basis. As a group, equities research analysts anticipate that NVIDIA Corporation will post 9.29 EPS for the current year.

NVIDIA declared that its Board of Directors has authorized a stock repurchase program on Monday, September 28th that permits the company to buy back $150 billion in shares. This repurchase authorization permits the computer hardware maker to reacquire up to 2.8% of its stock through open market purchases. Share repurchase programs are usually an indication that the company's board believes its stock is undervalued.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, September 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. NVIDIA's payout ratio is currently 12.64%.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of research reports. Zacks Research upgraded shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a report on Monday, September 21st. Truist Financial lowered shares of NVIDIA from a "buy" rating to a "hold" rating and set a $174.00 target price for the company. in a research note on Thursday. President Capital raised their target price on shares of NVIDIA from $295.00 to $330.00 in a report on Thursday, August 27th. BMO Capital Markets decreased their price target on shares of NVIDIA from $340.00 to $240.00 and set an "outperform" rating on the stock in a research report on Thursday. Finally, Sanford C. Bernstein set a $200.00 price target on shares of NVIDIA and gave the stock a "market perform" rating in a research report on Thursday. Five investment analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $283.63.

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.

Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Corporation (NASDAQ:NVDA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.