NVIDIA Corporation $NVDA Stock Acquired by NFSG Corp

Key Points

• NFSG Corp increased its NVIDIA stake by 5.2% in the third quarter, adding 12,745 shares to reach 256,803 shares valued at about $58.6 million. NVIDIA represents 6.1% of NFSG’s portfolio and is its second-largest holding.
• NVIDIA reported quarterly EPS of $2.22, above the $2.09 consensus estimate, while revenue of $96.22 billion beat forecasts and rose 105.9% year over year.
• The company authorized a $150 billion share-repurchase plan, covering up to 2.8% of its shares. Analysts surveyed by MarketBeat had an average rating of “Buy” and an average price target of $318.75.

NFSG Corp lifted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 256,803 shares of the computer hardware maker's stock after purchasing an additional 12,745 shares during the quarter. NVIDIA comprises about 6.1% of NFSG Corp's investment portfolio, making the stock its 2nd largest position. NFSG Corp's holdings in NVIDIA were worth $58,649,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Montgomery Financial Services LLC acquired a new position in NVIDIA during the second quarter worth about $28,000. Langley Wealth Management LLC acquired a new stake in shares of NVIDIA during the 2nd quarter valued at approximately $34,000. Newton One Investments LLC acquired a new stake in shares of NVIDIA during the 3rd quarter valued at approximately $34,000. Phillip James Consulting Co. acquired a new stake in shares of NVIDIA during the 1st quarter valued at approximately $40,000. Finally, Bard Associates Inc. boosted its stake in shares of NVIDIA by 8,866.7% during the 2nd quarter. Bard Associates Inc. now owns 269 shares of the computer hardware maker's stock worth $54,000 after acquiring an additional 266 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Stock Performance

Shares of NVDA opened at $168.93 on Wednesday. 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 stock has a market cap of $4.07 trillion, a P/E ratio of 21.36, a PEG ratio of 1.37 and a beta of 2.21. The company has a 50-day moving average of $217.99 and a two-hundred day moving average of $204.42. NVIDIA Corporation has a 12-month low of $164.27 and a 12-month high of $243.37.

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

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, September 10th. NVIDIA's payout ratio is currently 12.64%.

NVIDIA announced that its Board of Directors has initiated a stock buyback plan on Monday, September 28th that authorizes the company to buy back $150 billion in shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 2.8% of its shares through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of research reports. Rothschild & Co Redburn upped their price target on NVIDIA from $300.00 to $325.00 in a report on Thursday, August 27th. KeyCorp reaffirmed an "overweight" rating and issued a $330.00 price objective on shares of NVIDIA in a research note on Monday, August 24th. TD Cowen reaffirmed a "buy" rating on shares of NVIDIA in a report on Tuesday, August 18th. BMO Capital Markets set a $340.00 price objective on NVIDIA and gave the stock an "outperform" rating in a report on Thursday, August 20th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $300.00 target price on shares of NVIDIA in a research report on Monday. Five analysts have rated the stock with a Strong Buy rating, forty-eight have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $318.75.

Insider Buying and Selling

In related news, CFO Colette Kress sold 34,918 shares of the company's 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 sale, the chief financial officer owned 765,103 shares of the company's stock, valued at approximately $167,595,812.15. This represents a 4.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Stevens sold 622,239 shares of the company's stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $231.62, for a total value of $144,122,997.18. Following the completion of the sale, the director directly owned 2,336,531 shares in the company, valued at approximately $541,187,310.22. The trade was a 21.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,766,118 shares of company stock worth $399,450,353 in the last ninety days. Insiders own 3.94% of the company's stock.

Trending Headlines about NVIDIA

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: NVIDIA, Rebellions and SK Telecom announced a collaboration to combine NVIDIA’s NVLink Fusion and infrastructure with Korean-designed AI processors, supporting the company’s effort to expand its platform and partnerships. Article: NVIDIA, Rebellions and SK Telecom collaboration
• Neutral Sentiment: Some analysts remain positive despite trimming targets: Citi lowered its target but kept a Buy rating, while Wells Fargo cut its target and maintained Overweight. Investors are also looking ahead to NVIDIA’s November 17 earnings report. Article: Nvidia Stock Falls as Citi Trims Price Target
• Negative Sentiment: The board has retained outside counsel for an independent investigation into reports that Huang was targeted by a foreign intelligence effort. FBI and congressional scrutiny raises risks of reputational damage, governance concerns and possible regulatory attention; investors are also focused on NVIDIA’s reliance on Huang and lack of a clear public succession plan. Article: Nvidia hires law firm to lead Jensen Huang probe
• Negative Sentiment: A report alleged that Huang’s relationship with Alice Huang helped facilitate at least $7.5 billion in chip shipments to Chinese firms, including companies reportedly subject to restrictions. The claims have not been established, and Reuters could not independently verify the report, but they intensify export-control and national-security concerns. Article: Why Nvidia Stock Just Fell Again
• Negative Sentiment: Shareholder securities class actions have been filed alleging investors were not adequately informed; the claims are allegations, not findings of wrongdoing. Separately, rising Treasury yields and a broader technology sell-off are weighing on growth-stock valuations. Article: NVIDIA securities class action notice

About NVIDIA

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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