NVIDIA Corporation $NVDA Stake Raised by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management increased its NVIDIA stake by 9.4% in the third quarter, adding 98,807 shares to reach 1,148,556 shares valued at about $264.7 million. NVIDIA is the firm’s largest portfolio holding.
• Other institutional investors also reported increasing or initiating positions, and institutions and hedge funds collectively own 65.27% of NVIDIA shares.
• NVIDIA beat quarterly earnings and revenue estimates, with revenue up 105.9% year over year. Its board also authorized a $150 billion share repurchase program.

NorthCrest Asset Manangement LLC boosted its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 9.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,148,556 shares of the computer hardware maker's stock after acquiring an additional 98,807 shares during the period. NVIDIA accounts for 6.1% of NorthCrest Asset Manangement LLC's portfolio, making the stock its largest position. NorthCrest Asset Manangement LLC's holdings in NVIDIA were worth $264,719,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Jupiter Topco LLC bought a new stake in NVIDIA in the second quarter valued at approximately $16,156,076,000. Van ECK Associates Corp raised its stake in shares of NVIDIA by 34.7% in the 2nd quarter. Van ECK Associates Corp now owns 75,849,721 shares of the computer hardware maker's stock valued at $15,176,771,000 after purchasing an additional 19,522,304 shares during the period. State Street Corp raised its position in NVIDIA by 1.6% in the 2nd quarter. State Street Corp now owns 1,009,783,437 shares of the computer hardware maker's stock valued at $202,047,568,000 after buying an additional 15,897,836 shares during the last quarter. Amundi lifted its stake in NVIDIA by 10.4% in the 1st quarter. Amundi now owns 133,768,018 shares of the computer hardware maker's stock valued at $23,329,141,000 after acquiring an additional 12,575,177 shares in the last quarter. Finally, Nykredit A S bought a new stake in NVIDIA in the 2nd quarter valued at approximately $2,315,956,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $206.65 on Wednesday. The stock has a 50 day moving average price of $221.45 and a 200 day moving average price of $204.44. NVIDIA Corporation has a 52 week low of $164.27 and a 52 week high of $243.37. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.85 and a current ratio of 4.59. The stock has a market capitalization of $4.98 trillion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.55 and a beta of 2.21.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share for the quarter, beating analysts' consensus estimates of $2.09 by $0.13. The firm had revenue of $96.22 billion during the quarter, compared to the consensus estimate of $92.27 billion. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. The business's revenue was up 105.9% compared to the same quarter last year. During the same period last year, the company earned $1.05 earnings per share. Analysts predict that NVIDIA Corporation will post 9.30 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, September 10th. NVIDIA's dividend payout ratio is presently 12.64%.

NVIDIA declared that its board has authorized a stock repurchase program on Monday, September 28th that permits the company to buy back $150 billion in shares. This buyback authorization permits the computer hardware maker to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

More NVIDIA News

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: The sector recovery helped NVIDIA rebound after four consecutive losing sessions. Some coverage also described the recent pullback as a potential buying opportunity, citing the company’s strong revenue growth and continued demand for AI chips. Nvidia stock up over 3%: what's driving Tuesday's rally?
• Positive Sentiment: NVIDIA’s proposed DSX POD modular design aims to shorten AI-factory deployment to 14 days. Faster installation could let customers put GPUs to work and generate returns sooner, potentially supporting infrastructure demand. Nvidia's New 14-Day AI Deployment Goal Could Unlock Faster Growth
• Neutral Sentiment: Reports say NVIDIA is asking cloud and data-center partners to ensure at least 51% of services sales come from customers outside China, in response to U.S. export rules. The move may help partners comply, but the reports do not quantify the effect on NVIDIA’s sales. What Is Nvidia Asking Cloud Clients To Change Under New China Rules?
• Negative Sentiment: Broader worries about the AI trade remain a headwind: reports point to a substantial recent decline in AI-stock valuations and hedge funds reducing exposure. A warning that Chinese AI-chip competitors could expand overseas adds to uncertainty ahead of NVIDIA’s November 17 earnings report. AI Stocks Lose $5 Trillion in 3 Weeks as Hedge Funds Go Underweight AI

Analysts Set New Price Targets

A number of research firms have weighed in on NVDA. Rosenblatt Securities reaffirmed a "buy" rating and set a $390.00 price target on shares of NVIDIA in a research report on Tuesday, September 29th. Daiwa Securities Group lowered their price objective on shares of NVIDIA from $255.00 to $245.00 and set an "outperform" rating on the stock in a report on Thursday, September 17th. Piper Sandler began coverage on shares of NVIDIA in a research report on Wednesday, September 9th. They issued an "overweight" rating and a $300.00 price objective on the stock. Benchmark restated a "buy" rating and set a $335.00 target price on shares of NVIDIA in a report on Thursday, August 27th. Finally, Morgan Stanley set a $230.00 target price on shares of NVIDIA in a research report on Friday, October 2nd. Five analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $318.85.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 34,918 shares of the company's stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $219.05, for a total transaction of $7,648,787.90. Following the sale, the chief financial officer directly owned 765,103 shares of the company's stock, valued at approximately $167,595,812.15. This represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark A. Stevens sold 622,239 shares of the company's stock in a transaction 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 sale, the director directly owned 2,336,531 shares in the company, valued at $541,187,310.22. This trade represents a 21.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,766,118 shares of company stock valued at $399,450,353. 3.94% of the stock is owned by corporate insiders.

NVIDIA Profile

NVIDIA Corporation NASDAQ: NVDA is a technology company that designs graphics processing units (GPUs), accelerated computing platforms, networking products and related software. Its technologies support artificial intelligence, machine learning, scientific computing, data analytics, professional visualization and computer graphics.

The company's products include GeForce GPUs for gaming and personal computing, data center GPUs and systems for AI and high-performance computing, and networking solutions used to connect and manage large-scale computing infrastructure.

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