NVIDIA Corporation $NVDA Shares Bought by Cannell & Spears LLC

Key Points

• Cannell & Spears LLC increased its NVIDIA stake by 24.4% in the first quarter, adding 93,027 shares to hold 473,623 shares valued at approximately $82.3 million. Institutional investors collectively own 65.27% of NVIDIA.
• NVIDIA reported quarterly earnings of $1.87 per share and revenue of $81.61 billion, surpassing analyst estimates, while revenue rose 85.2% year over year.
• The company raised its quarterly dividend to $0.25 per share and authorized an $80 billion share-repurchase program. Analysts maintained a broadly bullish view, with a consensus “Buy” rating and an average price target of $304.26.

Cannell & Spears LLC raised its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 24.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 473,623 shares of the computer hardware maker's stock after buying an additional 93,027 shares during the period. NVIDIA comprises about 1.6% of Cannell & Spears LLC's portfolio, making the stock its 15th largest holding. Cannell & Spears LLC's holdings in NVIDIA were worth $82,258,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. Lifetime Wealth Management P.C. acquired a new position in shares of NVIDIA in the 4th quarter valued at $26,000. Longview Financial Advisors Inc. acquired a new stake in NVIDIA during the first quarter valued at $27,000. Longfellow Investment Management Co. LLC increased its holdings in NVIDIA by 47.9% in the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker's stock valued at $33,000 after buying an additional 67 shares in the last quarter. Phillip James Consulting Co. purchased a new position in NVIDIA in the first quarter valued at $40,000. Finally, Spurstone Advisory Services LLC acquired a new position in shares of NVIDIA in the second quarter worth about $40,000. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Stock Up 3.4%

NVDA stock opened at $219.22 on Thursday. The company has a current ratio of 3.44, a quick ratio of 2.85 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average of $205.31 and a two-hundred day moving average of $196.77. NVIDIA Corporation has a 12 month low of $164.07 and a 12 month high of $236.54. The company has a market cap of $5.31 trillion, a price-to-earnings ratio of 33.57, a PEG ratio of 0.41 and a beta of 2.23.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.76 by $0.11. The business had revenue of $81.61 billion during the quarter, compared to the consensus estimate of $78.42 billion. NVIDIA had a return on equity of 96.94% and a net margin of 62.97%.The company's revenue for the quarter was up 85.2% on a year-over-year basis. During the same period last year, the company earned $0.81 EPS. As a group, analysts forecast that NVIDIA Corporation will post 8.79 earnings per share for the current fiscal year.

NVIDIA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Thursday, June 4th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.5%. This is a positive change from NVIDIA's previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Thursday, June 4th. NVIDIA's payout ratio is 15.31%.

NVIDIA announced that its board has authorized a share repurchase program on Wednesday, May 20th that authorizes the company to buyback $80.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

NVDA has been the topic of a number of analyst reports. BNP Paribas Exane raised their target price on NVIDIA from $270.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, May 21st. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $285.00 price target (up from $250.00) on shares of NVIDIA in a report on Wednesday, May 20th. Rosenblatt Securities reiterated a "buy" rating and set a $325.00 price target on shares of NVIDIA in a research report on Thursday, May 21st. Benchmark reissued a "buy" rating and issued a $335.00 price objective (up from $250.00) on shares of NVIDIA in a report on Thursday, May 21st. Finally, Argus boosted their price objective on NVIDIA from $220.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, May 21st. Three 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $304.26.

Key NVIDIA News

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: SpaceX CEO Elon Musk said the company will build its AI infrastructure exclusively with NVIDIA chips, including the Vera Rubin platform. Musk also discussed ambitious plans for space-based AI computing, prompting investors to anticipate a potentially significant new source of long-term demand. Nvidia Stock Is on the Rise After Elon Musk Says SpaceX Will Exclusively Buy Its Chips
• Positive Sentiment: Analysts and market commentators are raising their long-term forecasts, with one scenario suggesting NVIDIA could approach $1 trillion in annual revenue if SpaceX delivers even part of Musk’s planned computing buildout. These projections reinforce the bullish view that NVIDIA’s opportunity extends beyond traditional data-center GPUs. Analyst Forecasts NVIDIA Revenue Potential From SpaceX Compute Plans
• Positive Sentiment: Investor sentiment was also supported by reports that NVIDIA’s B200 systems remain sold out and that AI chip demand continues to substantially exceed available supply. A separate report highlighted a multiyear Blackwell infrastructure agreement with Corvex, adding to evidence of continuing deployment demand. NVIDIA B200 Systems Are Sold Out
• Positive Sentiment: Before its upcoming earnings release, bullish estimates call for approximately $91.85 billion in quarterly revenue and $2.08 in earnings per share, reflecting nearly 100% year-over-year growth. Recent coverage also points to networking, software, enterprise AI and sovereign AI as increasingly important growth drivers. NVIDIA Stock Ahead of Q2 Earnings
• Neutral Sentiment: Institutional activity included additions of 698,901 shares by DekaBank and 595,887 shares by Allen Investment Management, while analyst price targets remain well above recent trading levels. However, these 13F disclosures reflect holdings as of June 30 and may not represent current positioning.
• Negative Sentiment: Risks remain, including Michael Burry’s bearish NVIDIA position, concerns over potentially expensive circular investments in AI companies, U.S. restrictions affecting China-related supply chains, and competition from AMD, custom accelerators and AI companies developing their own chips. Michael Burry Maintains Bearish NVIDIA View

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Stephen C. Neal sold 15,500 shares of the company's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $215.73, for a total value of $3,343,815.00. Following the transaction, the director owned 116,135 shares of the company's stock, valued at $25,053,803.55. This represents a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 885,000 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $210.17, for a total transaction of $186,000,450.00. Following the transaction, the director directly owned 5,207,271 shares of the company's stock, valued at $1,094,412,146.07. The trade was a 14.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,901,125 shares of company stock worth $410,583,015 over the last quarter. 3.94% of the stock is currently owned by company insiders.

About NVIDIA

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company's product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

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.

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