NVIDIA Corporation $NVDA is Ables Iannone Moore & Associates Inc.'s 2nd Largest Position

Key Points

• Ables Iannone Moore & Associates Inc. reduced its stake in NVIDIA Corporation by 2.9%, now holding 124,098 shares worth approximately $19.6 million, making it the firm's second largest position.
• NVIDIA's recent earnings report exceeded expectations with a revenue of $46.74 billion, marking a 55.6% increase year-over-year and an EPS of $1.05.
• Institutional investors currently own 65.27% of NVIDIA's shares, showcasing strong institutional interest in the company amidst several raised price targets by analysts.

Ables Iannone Moore & Associates Inc. cut its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,098 shares of the computer hardware maker's stock after selling 3,645 shares during the quarter. NVIDIA comprises about 12.2% of Ables Iannone Moore & Associates Inc.'s holdings, making the stock its 2nd largest position. Ables Iannone Moore & Associates Inc.'s holdings in NVIDIA were worth $19,606,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Astoria Portfolio Advisors LLC. lifted its stake in NVIDIA by 0.9% in the first quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock worth $9,610,000 after acquiring an additional 864 shares during the period. Centerpoint Advisory Group raised its stake in NVIDIA by 2.5% during the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after acquiring an additional 943 shares during the period. GSB Wealth Management LLC increased its holdings in NVIDIA by 3.3% in the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock valued at $3,534,000 after acquiring an additional 1,043 shares during the last quarter. Variant Private Wealth LLC lifted its holdings in shares of NVIDIA by 20.6% in the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock valued at $2,038,000 after acquiring an additional 3,206 shares during the last quarter. Finally, Financial Perspectives Inc raised its position in NVIDIA by 2.8% in the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after purchasing an additional 1,265 shares during the period. Institutional investors own 65.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NVDA shares. Wolfe Research boosted their target price on shares of NVIDIA from $220.00 to $230.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. TD Cowen boosted their price objective on NVIDIA from $140.00 to $235.00 and gave the stock a "buy" rating in a research report on Tuesday, August 19th. Needham & Company LLC reissued a "buy" rating and issued a $200.00 price objective on shares of NVIDIA in a report on Thursday, August 28th. Bank of America raised their price objective on NVIDIA from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Finally, Craig Hallum raised their price objective on NVIDIA from $195.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Four research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $208.47.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 30,500 shares of the firm's stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $176.40, for a total value of $5,380,200.00. Following the completion of the sale, the chief financial officer directly owned 2,883,402 shares of the company's stock, valued at approximately $508,632,112.80. This trade represents a 1.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stephen C. Neal sold 28,000 shares of NVIDIA stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $177.58, for a total transaction of $4,972,240.00. Following the transaction, the director directly owned 143,410 shares of the company's stock, valued at approximately $25,466,747.80. This trade represents a 16.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,020,022 shares of company stock worth $677,418,500 over the last three months. Corporate insiders own 4.17% of the company's stock.

NVIDIA Price Performance

NVDA stock traded up $0.43 during trading on Friday, reaching $176.67. 236,580,653 shares of the company were exchanged, compared to its average volume of 177,120,144. The company has a 50-day moving average of $175.73 and a two-hundred day moving average of $143.62. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $184.48. The company has a market capitalization of $4.29 trillion, a price-to-earnings ratio of 50.33, a P/E/G ratio of 1.28 and a beta of 2.10. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.21 and a quick ratio of 3.60.

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, beating analysts' consensus estimates of $1.01 by $0.04. The business had revenue of $46.74 billion during the quarter, compared to the consensus estimate of $45.65 billion. NVIDIA had a net margin of 52.41% and a return on equity of 101.74%. The company's revenue for the quarter was up 55.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 EPS. NVIDIA has set its Q3 2026 guidance at EPS. As a group, equities analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

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.