NVIDIA Corporation $NVDA Stock Bought by Grove Bank & Trust

Key Points

• Grove Bank & Trust increased its NVIDIA position by 3.4% in the third quarter, bringing its holdings to 118,102 shares valued at approximately $27.0 million. Institutional investors and hedge funds collectively own 65.27% of NVIDIA.
• NVIDIA reported quarterly revenue of $96.22 billion, up 105.9% year over year, and EPS of $2.22, exceeding analyst expectations. The company also authorized a $150 billion share-repurchase program and declared a $0.25 quarterly dividend.
• Despite the stock trading down 4.2% at $204.64, analyst sentiment remains favorable: NVIDIA has an average “Buy” rating and a consensus price target of $321.47. Insiders sold more than $399 million of stock during the latest quarter.

Grove Bank & Trust grew its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 118,102 shares of the computer hardware maker's stock after buying an additional 3,869 shares during the quarter. NVIDIA accounts for 2.7% of Grove Bank & Trust's investment portfolio, making the stock its 8th largest holding. Grove Bank & Trust's holdings in NVIDIA were worth $26,972,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in NVDA. Montgomery Financial Services LLC acquired a new stake in NVIDIA in the second quarter valued at about $28,000. Phillip James Consulting Co. purchased a new stake in NVIDIA in the 1st quarter valued at approximately $40,000. Bard Associates Inc. increased its position in 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 purchasing an additional 266 shares during the period. Frankly Finances LLC acquired a new position in NVIDIA during the 2nd quarter worth approximately $60,000. Finally, ABS Investment Management LLC acquired a new position in NVIDIA during the 2nd quarter worth approximately $80,000. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Trading Down 4.2%

NASDAQ NVDA opened at $204.64 on Friday. The firm has a market capitalization of $4.93 trillion, a price-to-earnings ratio of 25.87, a PEG ratio of 1.64 and a beta of 2.22. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.85 and a current ratio of 4.59. NVIDIA Corporation has a one year low of $164.27 and a one year high of $243.37. The company's 50 day moving average price is $221.74 and its 200 day moving average price is $204.24.

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

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

NVIDIA Announces Dividend

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

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 622,239 shares of the stock in a transaction dated Friday, September 4th. The stock was 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 owned 2,336,531 shares in the company, valued at approximately $541,187,310.22. This trade represents a 21.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy S. Teter sold 30,460 shares of the firm's stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $222.80, for a total value of $6,786,488.00. Following the sale, the executive vice president owned 2,687,660 shares in the company, valued at approximately $598,810,648. The trade was a 1.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,766,118 shares of company stock worth $399,450,353 over the last quarter. 3.94% of the stock is owned by corporate insiders.

NVIDIA News Roundup

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: NVIDIA’s strong earnings, expanding margins and outlook for roughly 70% revenue growth in fiscal 2028 continue to support the bullish case. Analysts argue that AI demand remains supply-constrained and that the company’s latest guidance exceeded expectations. NVIDIA’s AI Dominance Could Have Further to Run
• Positive Sentiment: The company is broadening its role beyond GPUs by offering complete AI-factory architectures, networking, software and edge systems. Expanded collaborations with Microsoft, Meta, Oracle and other partners could increase NVIDIA’s share of customers’ overall AI infrastructure budgets. How AI Factory Expansion Will Impact NVIDIA Investors
• Positive Sentiment: Commentary highlighting AI demand, pricing power and NVIDIA’s strategic investments in networking, software and AI companies provides potential long-term catalysts. Wall Street analyst sentiment remains broadly favorable despite the recent correction. NVIDIA Stock: Analyst Estimates and Ratings

Analyst Ratings Changes

NVDA has been the subject of a number of analyst reports. Phillip Securities increased their target price on NVIDIA from $285.00 to $300.00 and gave the stock a "buy" rating in a research note on Monday, August 31st. Raymond James Financial set a $515.00 price objective on shares of NVIDIA and gave the stock a "strong-buy" rating in a research report on Thursday, August 27th. Benchmark reiterated a "buy" rating and set a $335.00 target price on shares of NVIDIA in a report on Thursday, August 27th. Wall Street Zen cut shares of NVIDIA from a "strong-buy" rating to a "buy" rating in a research note on Saturday, October 24th. Finally, Rosenblatt Securities restated a "buy" rating and set a $390.00 price objective on shares of NVIDIA in a report on Tuesday, September 29th. Five research analysts have rated the stock with a Strong Buy rating, forty-nine have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, NVIDIA currently has an average rating of "Buy" and a consensus target price of $321.47.

NVIDIA Company 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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