PNC Financial Services Group Inc. Raises Holdings in NVIDIA Corporation $NVDA

Key Points

• PNC Financial Services Group Inc. increased its holdings in NVIDIA Corporation by 5.2% in the first quarter, owning a total of 9,623,230 shares worth approximately $1.04 billion.
• NVIDIA's quarterly earnings report showed an EPS of $1.05, exceeding analysts’ expectations, with revenue of $46.74 billion for the quarter, reflecting a 55.6% year-over-year increase.
• Multiple analysts have upgraded their ratings for NVIDIA, with target prices ranging from $200 to $240, indicating a consensus target price of $207.69 and an overall average rating of "Moderate Buy".

PNC Financial Services Group Inc. grew its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,623,230 shares of the computer hardware maker's stock after acquiring an additional 472,805 shares during the quarter. NVIDIA accounts for 0.5% of PNC Financial Services Group Inc.'s portfolio, making the stock its 22nd biggest holding. PNC Financial Services Group Inc.'s holdings in NVIDIA were worth $1,042,966,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of NVDA. GAMMA Investing LLC lifted its holdings in shares of NVIDIA by 12,173.2% during the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock valued at $5,293,039,000 after purchasing an additional 48,439,859 shares in the last quarter. Northern Trust Corp raised its holdings in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in NVIDIA by 204.6% in the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock worth $3,864,026,000 after purchasing an additional 23,948,733 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in NVIDIA during the 4th quarter valued at $2,987,733,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of NVIDIA by 11.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 200,898,191 shares of the computer hardware maker's stock valued at $26,978,618,000 after buying an additional 20,494,402 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Trading Down 2.0%

Shares of NASDAQ NVDA traded down $3.40 during mid-day trading on Tuesday, reaching $170.78. The company had a trading volume of 230,285,881 shares, compared to its average volume of 162,821,536. The stock has a market cap of $4.15 trillion, a price-to-earnings ratio of 48.66, a price-to-earnings-growth ratio of 1.30 and a beta of 2.10. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $184.48. The business's 50-day moving average is $171.43 and its 200-day moving average is $139.35. The company has a current ratio of 4.21, a quick ratio of 2.96 and a debt-to-equity ratio of 0.08.

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

NVIDIA Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Evercore ISI increased their price objective on shares of NVIDIA from $190.00 to $214.00 and gave the stock an "outperform" rating in a research note on Friday, August 22nd. UBS Group increased their price target on shares of NVIDIA from $175.00 to $205.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Wedbush reissued an "outperform" rating and set a $210.00 price objective on shares of NVIDIA in a research report on Thursday, August 28th. Benchmark lifted their target price on NVIDIA from $190.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Finally, Raymond James Financial boosted their price target on NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a report on Thursday, May 29th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $207.69.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the transaction, the chief executive officer directly owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the sale, the director directly owned 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,801,604 shares of company stock valued at $747,046,639. 4.17% of the stock is owned by insiders.

NVIDIA 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.