NVIDIA Corporation $NVDA Stock Purchased by McGlone Suttner Wealth Management Inc.

Key Points

• McGlone Suttner Wealth Management increased its NVIDIA stake by 7.7% in the third quarter, adding 2,468 shares to reach 34,544 shares valued at about $7.9 million. Institutional investors and hedge funds own 65.27% of NVIDIA stock.
• NVIDIA’s latest reported quarter beat analyst expectations, with revenue of $96.22 billion, up 105.9% year over year; its board also authorized a $150 billion share-repurchase plan.
• Analysts maintain a consensus “Buy” rating and an average price target of $318.85, while AI-market volatility, China-related export constraints, and competition remain risks.

McGlone Suttner Wealth Management Inc. grew its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,544 shares of the computer hardware maker's stock after buying an additional 2,468 shares during the quarter. NVIDIA makes up 0.9% of McGlone Suttner Wealth Management Inc.'s holdings, making the stock its 18th biggest holding. McGlone Suttner Wealth Management Inc.'s holdings in NVIDIA were worth $7,889,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Montgomery Financial Services LLC acquired a new position in NVIDIA in the 2nd quarter worth about $28,000. Phillip James Consulting Co. acquired a new stake in shares of NVIDIA during the first quarter valued at about $40,000. Bard Associates Inc. boosted its stake in shares of NVIDIA by 8,866.7% during the second quarter. Bard Associates Inc. now owns 269 shares of the computer hardware maker's stock valued at $54,000 after purchasing an additional 266 shares in the last quarter. Frankly Finances LLC acquired a new stake in shares of NVIDIA during the second quarter valued at about $60,000. Finally, ABS Investment Management LLC bought a new stake in shares of NVIDIA during the second quarter worth about $80,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA News Roundup

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

Wall Street Analysts Forecast Growth

NVDA has been the subject of several recent research reports. President Capital upped their price objective on NVIDIA from $295.00 to $330.00 in a research note on Thursday, August 27th. Wells Fargo & Company set a $210.00 target price on shares of NVIDIA in a research report on Friday, October 2nd. Piper Sandler started coverage on shares of NVIDIA in a research report on Wednesday, September 9th. They set an "overweight" rating and a $300.00 target price on the stock. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of NVIDIA in a report on Monday, August 31st. Finally, Truist Financial upped their price target on shares of NVIDIA from $307.00 to $346.00 and gave the company a "buy" rating in a research report on Thursday, August 27th. Five analysts have rated the stock with a Strong Buy rating, forty-eight have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $318.85.

NVIDIA Stock Up 2.3%

Shares of NASDAQ NVDA opened at $206.65 on Wednesday. The company's 50 day moving average price is $221.45 and its 200-day moving average price is $204.44. 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 52-week low of $164.27 and a 52-week high of $243.37. The company has a market capitalization of $4.98 trillion, a P/E 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 announced its earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share for the quarter, topping analysts' consensus estimates of $2.09 by $0.13. The business had revenue of $96.22 billion during 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%. NVIDIA's quarterly revenue was up 105.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 earnings per share. Equities analysts forecast that NVIDIA Corporation will post 9.30 earnings per share for the current year.

NVIDIA Dividend Announcement

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

NVIDIA announced that its board has authorized a stock repurchase plan on Monday, September 28th that authorizes the company to repurchase $150 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at NVIDIA

In other news, EVP Timothy Teter sold 30,460 shares of NVIDIA stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $222.80, for a total value of $6,786,488.00. Following the completion of the transaction, the executive vice president directly owned 2,687,660 shares of the company's stock, valued at approximately $598,810,648. This trade represents a 1.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Stevens sold 622,239 shares of the business's stock in a transaction dated 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 transaction, the director directly owned 2,336,531 shares in the company, valued at $541,187,310.22. This represents a 21.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,766,118 shares of company stock valued at $399,450,353. Corporate insiders own 3.94% of the company's stock.

About NVIDIA

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.