NVIDIA Corporation $NVDA Holdings Raised by ZWJ Investment Counsel Inc.

Key Points

• ZWJ Investment Counsel increased its NVIDIA stake by 1.6% in the third quarter, to 522,627 shares valued at about $119.4 million. NVIDIA represents 3.4% of the firm’s portfolio and is its seventh-largest holding.
• Institutional investors own 65.27% of NVIDIA shares, and analyst sentiment is broadly positive: the stock has a consensus “Buy” rating and an average price target of $318.85.
• NVIDIA’s latest reported quarter beat earnings and revenue estimates, with revenue up 105.9% year over year. The company also authorized a $150 billion share repurchase program.

ZWJ Investment Counsel Inc. boosted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 522,627 shares of the computer hardware maker's stock after acquiring an additional 8,132 shares during the quarter. NVIDIA accounts for about 3.4% of ZWJ Investment Counsel Inc.'s investment portfolio, making the stock its 7th largest holding. ZWJ Investment Counsel Inc.'s holdings in NVIDIA were worth $119,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of NVDA. Jupiter Topco LLC purchased a new stake in shares of NVIDIA during the second quarter valued at approximately $16,156,076,000. Van ECK Associates Corp increased its stake in shares of NVIDIA by 34.7% in the second 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 increased its stake in shares of NVIDIA by 1.6% in the second quarter. State Street Corp now owns 1,009,783,437 shares of the computer hardware maker's stock worth $202,047,568,000 after buying an additional 15,897,836 shares during the period. Amundi raised 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 valued at $23,329,141,000 after buying an additional 12,575,177 shares during the last quarter. Finally, Nykredit A S bought a new stake in NVIDIA during the 2nd quarter valued at $2,315,956,000. 65.27% of the stock is currently owned by institutional investors.

More NVIDIA News

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: Some investors see the decline as a buying opportunity, citing NVIDIA’s strong AI-chip position and profitability. ARK Invest also reportedly added $45.9 million of NVDA shares during the sell-off. Nvidia Stock Rises on Dip-Buying: 3 Reasons to Be Optimistic
• Positive Sentiment: CEO Jensen Huang says the next-generation Vera Rubin platform could generate more revenue per gigawatt of data-center capacity than the current platform, supporting the case for continued growth. Jensen Huang Says Nvidia's Next-Gen Vera Rubin Chips Will Generate $40 Billion in Revenue per Gigawatt
• Neutral Sentiment: NVIDIA’s upcoming Nov. 17 results are a key near-term catalyst: investors will look for evidence that demand and guidance can ease fears about AI spending and justify the stock’s recovery. Nvidia Investors Need to Be Paying Attention on Nov. 17
• Negative Sentiment: The rebound follows a steep sell-off that wiped roughly $450 billion from NVIDIA’s market value. Investors are worried that a Democratic-led Congress, data-center permitting or regulatory hurdles, high capital costs, and uncertain returns could delay infrastructure projects and weaken future chip demand. AI stocks hammered by midterm shock as data center buildout becomes a 'war of attrition'
• Negative Sentiment: Reports that NVIDIA may be taking on greater exposure to financially strained “neocloud” customers raise concern that it could face risks beyond selling chips if those providers struggle to fund data centers. As neoclouds face a financial reckoning, Nvidia has to decide how far to go to help

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 34,918 shares of the business's stock in a transaction 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 sale, the chief financial officer owned 765,103 shares in the company, valued at approximately $167,595,812.15. The trade was a 4.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Timothy Teter sold 30,460 shares of the company's stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $222.80, for a total transaction of $6,786,488.00. Following the completion of the sale, the executive vice president directly owned 2,687,660 shares in the company, valued at $598,810,648. This represents a 1.12% decrease in their ownership of the stock. 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 90 days, insiders sold 1,766,118 shares of company stock valued at $399,450,353. 3.94% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NVDA shares. DZ Bank reissued a "buy" rating on shares of NVIDIA in a research report on Wednesday, August 26th. Truist Financial boosted their price objective on shares of NVIDIA from $307.00 to $346.00 and gave the company a "buy" rating in a research report on Thursday, August 27th. Stifel Nicolaus set a $315.00 price objective on shares of NVIDIA in a research note on Thursday, August 27th. Needham & Company LLC reiterated a "buy" rating and set a $300.00 target price on shares of NVIDIA in a report on Wednesday, October 21st. Finally, KGI Securities raised their target price on NVIDIA from $335.00 to $345.00 in a research note on Thursday, August 27th. Five analysts have rated the stock with a Strong Buy rating, forty-eight have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $318.85.

NVIDIA Stock Up 2.8%

NVDA stock opened at $186.64 on Friday. NVIDIA Corporation has a fifty-two week low of $164.27 and a fifty-two week high of $243.37. The business's 50 day moving average price is $219.80 and its two-hundred day moving average price is $204.53. 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 company has a market capitalization of $4.50 trillion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 1.43 and a beta of 2.21.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released 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. The company had revenue of $96.22 billion during the quarter, compared to analysts' expectations of $92.27 billion. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. The firm's revenue for the quarter was up 105.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.05 EPS. As a group, analysts forecast that NVIDIA Corporation will post 9.30 earnings per share for the current fiscal year.

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

NVIDIA Dividend Announcement

The company 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. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $1.00 annualized dividend and a yield of 0.5%. NVIDIA's dividend payout ratio (DPR) is currently 12.64%.

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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