NVIDIA Corporation $NVDA Shares Bought by OceanIQ Capital LLC

Key Points

• OceanIQ Capital increased its NVIDIA stake by 2%, adding 4,555 shares to reach 237,830 shares valued at $54.3 million. NVIDIA represents about 27.5% of the firm’s portfolio and is its largest holding.
• NVIDIA shares fell 2% to $162.85. Analysts’ consensus rating remained “Moderate Buy,” with an average price target of $277.89, though several firms recently lowered their targets.
• NVIDIA’s latest reported quarter beat estimates, with earnings of $2.22 per share and revenue of $96.22 billion, up 105.9% year over year. The company also authorized a $150 billion share repurchase plan.

OceanIQ Capital LLC increased its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 237,830 shares of the computer hardware maker's stock after purchasing an additional 4,555 shares during the period. NVIDIA makes up approximately 27.5% of OceanIQ Capital LLC's investment portfolio, making the stock its largest holding. OceanIQ Capital LLC's holdings in NVIDIA were worth $54,349,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Retirement Wealth Solutions LLC raised its stake in NVIDIA by 1.2% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 4,121 shares of the computer hardware maker's stock worth $825,000 after buying an additional 47 shares during the period. LightSquare Wealth Management LLC lifted its holdings in NVIDIA by 0.3% during the second quarter. LightSquare Wealth Management LLC now owns 18,695 shares of the computer hardware maker's stock worth $3,741,000 after acquiring an additional 49 shares in the last quarter. CWS Financial Advisors LLC grew its stake in NVIDIA by 3.1% in the third quarter. CWS Financial Advisors LLC now owns 1,653 shares of the computer hardware maker's stock valued at $377,000 after acquiring an additional 49 shares during the period. Defender Capital LLC. grew its stake in NVIDIA by 0.7% in the second quarter. Defender Capital LLC. now owns 7,534 shares of the computer hardware maker's stock valued at $1,507,000 after acquiring an additional 50 shares during the period. Finally, Kooman & Associates grew its stake in NVIDIA by 0.6% in the second quarter. Kooman & Associates now owns 8,464 shares of the computer hardware maker's stock valued at $1,694,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Recent NVIDIA Headlines

These are some of the NVDA headlines that stood out recently:

• Neutral Sentiment: Investors are also being urged to judge AI demand by the revenue generated from computing capacity—not just the capital companies spend to build it. That could sharpen questions about how quickly AI infrastructure investments translate into sales. Barron's analysis of AI revenue
• Negative Sentiment: Reports connecting the leadership scandal to scrutiny of possible chip diversions to China have raised risks of regulatory action and reputational damage. The allegations remain under investigation, while U.S. lawmakers are seeking testimony. Congressional scrutiny
• Negative Sentiment: HSBC downgraded NVIDIA to Hold with a $170 target, and several firms have reduced price targets. Analysts also warn that leadership uncertainty could give chip rivals more opportunity to win business. HSBC downgrade coverage

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NVDA shares. DA Davidson lowered their price target on NVIDIA from $300.00 to $200.00 and set a "buy" rating for the company in a report on Thursday. Piper Sandler initiated coverage on NVIDIA in a report on Wednesday, September 9th. They set an "overweight" rating and a $300.00 price objective on the stock. Barclays decreased their price objective on NVIDIA from $275.00 to $210.00 and set an "overweight" rating for the company in a research report on Friday. Mizuho set a $250.00 target price on NVIDIA in a research note on Monday, November 9th. Finally, Needham & Company LLC lowered their target price on NVIDIA from $300.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday. Five investment analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to MarketBeat.com, NVIDIA currently has an average rating of "Moderate Buy" and an average target price of $277.89.

NVIDIA Stock Down 2.0%

Shares of NVIDIA stock traded down $3.34 on Friday, reaching $162.85. 363,372,273 shares of the company were exchanged, compared to its average volume of 196,617,360. NVIDIA Corporation has a one year low of $148.80 and a one year high of $243.37. The company has a market capitalization of $3.92 trillion, a price-to-earnings ratio of 20.59, a PEG ratio of 1.28 and a beta of 2.21. The company has a current ratio of 4.59, a quick ratio of 3.85 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $214.64 and a 200 day moving average of $204.12.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 EPS for the quarter, beating the consensus estimate of $2.09 by $0.13. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. The company had revenue of $96.22 billion during the quarter, compared to the consensus estimate of $92.27 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. The firm's revenue for the quarter was up 105.9% compared to the same quarter last year. On average, equities research analysts forecast that NVIDIA Corporation will post 9.29 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 10th were issued 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 dividend yield of 0.6%. NVIDIA's payout ratio is presently 12.64%.

NVIDIA declared that its board has approved a share buyback plan on Monday, September 28th that authorizes the company to repurchase $150 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 2.8% of its shares through open market purchases. Share repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Mark A. Stevens sold 622,239 shares of the stock in a transaction that occurred on 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 transaction, the director owned 2,336,531 shares in the company, valued at approximately $541,187,310.22. This trade represents a 21.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 34,918 shares of the stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $219.05, for a total value of $7,648,787.90. Following the transaction, the chief financial officer owned 765,103 shares in the company, valued at approximately $167,595,812.15. This trade represents a 4.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,766,118 shares of company stock valued at $399,450,353. Company insiders own 3.94% of the company's stock.

NVIDIA Company Profile

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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