Covington Investment Advisors Inc. Acquires 6,105 Shares of NVIDIA Corporation $NVDA

Key Points

• Covington Investment Advisors Inc. increased its stake in NVIDIA Corporation by 3.2%, owning 194,665 shares worth approximately $21.1 million, making it the firm's 5th largest position.
• NVIDIA’s recent earnings report showed a quarterly EPS of $1.05, exceeding analyst expectations, with a revenue of $46.74 billion, marking a 55.6% year-over-year increase.
• The company declared a quarterly dividend of $0.01 per share, reflecting a yield of 0.0%, and insiders have sold over 3.8 million shares of the company's stock recently.

Covington Investment Advisors Inc. lifted its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,665 shares of the computer hardware maker's stock after buying an additional 6,105 shares during the quarter. NVIDIA accounts for 3.3% of Covington Investment Advisors Inc.'s portfolio, making the stock its 5th biggest holding. Covington Investment Advisors Inc.'s holdings in NVIDIA were worth $21,098,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of NVDA. Copia Wealth Management purchased a new stake in NVIDIA during the fourth quarter worth $50,000. Kathleen S. Wright Associates Inc. increased its position in shares of NVIDIA by 169.3% in the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker's stock valued at $44,000 after buying an additional 254 shares in the last quarter. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of NVIDIA during the 1st quarter worth $51,000. Bruce G. Allen Investments LLC boosted its position in shares of NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after buying an additional 327 shares in the last quarter. Finally, Campbell Capital Management Inc. boosted its position in shares of NVIDIA by 5,900.0% in the 1st quarter. Campbell Capital Management Inc. now owns 600 shares of the computer hardware maker's stock worth $65,000 after buying an additional 590 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NVDA. Robert W. Baird lifted their target price on shares of NVIDIA from $195.00 to $225.00 and gave the stock an "outperform" rating in a research report on Monday, August 25th. JPMorgan Chase & Co. reissued an "overweight" rating and set a $215.00 price objective on shares of NVIDIA in a research note on Thursday, September 4th. DA Davidson raised NVIDIA from a "neutral" rating to a "buy" rating and upped their target price for the company from $195.00 to $210.00 in a research note on Thursday. Mizuho increased their target price on NVIDIA from $192.00 to $205.00 and gave the company an "outperform" rating in a report on Thursday, August 14th. Finally, Loop Capital raised their price target on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $207.83.

NVIDIA Trading Down 0.3%

Shares of NVDA stock traded down $0.58 during mid-day trading on Thursday, hitting $176.74. 96,615,914 shares of the company's stock were exchanged, compared to its average volume of 236,349,500. The stock has a market cap of $4.29 trillion, a price-to-earnings ratio of 50.33, a PEG ratio of 1.24 and a beta of 2.10. The company has a quick ratio of 3.60, a current ratio of 4.21 and a debt-to-equity ratio of 0.08. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $184.48. The stock has a 50-day simple moving average of $173.69 and a two-hundred day simple moving average of $140.91.

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

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Thursday, September 11th will be given a $0.01 dividend. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA's dividend payout ratio (DPR) is currently 1.14%.

Insider Buying and Selling

In other news, Director Dawn E. Hudson sold 18,000 shares of the company's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $172.00, for a total transaction of $3,096,000.00. Following the completion of the sale, the director directly owned 368,887 shares in the company, valued at $63,448,564. This represents a 4.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $169.71, for a total value of $12,728,250.00. Following the completion of the transaction, the chief executive officer directly owned 72,398,366 shares in the company, valued at $12,286,726,693.86. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,832,755 shares of company stock valued at $619,935,680. 4.17% of the stock is owned by insiders.

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.