NVIDIA Corporation $NVDA Stock Sold by VMS Asset Management Limited

Key Points

• VMS Asset Management cut its NVIDIA stake by 20.5% in the third quarter, selling 8,089 shares and retaining 31,440 shares valued at about $7.18 million.
• NVIDIA insiders also reported share sales: CFO Colette Kress and EVP Timothy Teter sold shares under pre-arranged trading plans; company insiders sold 1.77 million shares worth roughly $399 million during the quarter.
• Analysts remain broadly positive, with a consensus “Buy” rating and an average price target of $318.85. NVIDIA also reported quarterly revenue growth of 105.9% year over year and authorized a $150 billion share-repurchase program.

VMS Asset Management Limited reduced its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 20.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 31,440 shares of the computer hardware maker's stock after selling 8,089 shares during the period. NVIDIA makes up approximately 2.8% of VMS Asset Management Limited's holdings, making the stock its 13th biggest holding. VMS Asset Management Limited's holdings in NVIDIA were worth $7,180,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Retirement Wealth Solutions LLC raised its holdings in shares of NVIDIA by 1.2% during the second quarter. Retirement Wealth Solutions LLC now owns 4,121 shares of the computer hardware maker's stock worth $825,000 after acquiring an additional 47 shares during the period. LightSquare Wealth Management LLC lifted its position in NVIDIA by 0.3% in the 2nd quarter. LightSquare Wealth Management LLC now owns 18,695 shares of the computer hardware maker's stock valued at $3,741,000 after acquiring an additional 49 shares in the last quarter. Defender Capital LLC. lifted its position in NVIDIA by 0.7% in the 2nd quarter. Defender Capital LLC. now owns 7,534 shares of the computer hardware maker's stock valued at $1,507,000 after acquiring an additional 50 shares in the last quarter. Kooman & Associates boosted its stake in NVIDIA by 0.6% in the 2nd quarter. Kooman & Associates now owns 8,464 shares of the computer hardware maker's stock worth $1,694,000 after purchasing an additional 50 shares during the period. Finally, Roof Eidam Maycock Peralta LLC boosted its stake in NVIDIA by 0.3% in the 2nd quarter. Roof Eidam Maycock Peralta LLC now owns 18,827 shares of the computer hardware maker's stock worth $3,767,000 after purchasing an additional 50 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Colette Kress sold 34,918 shares of the company's stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $219.05, for a total transaction of $7,648,787.90. Following the sale, the chief financial officer owned 765,103 shares in the company, 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 accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Timothy S. Teter sold 30,460 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 2,687,660 shares of the company's stock, valued at $598,810,648. This trade represents a 1.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,766,118 shares of company stock worth $399,450,353 in the last quarter. Corporate insiders own 3.94% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Raymond James Financial set a $515.00 target price on NVIDIA and gave the stock a "strong-buy" rating in a report on Thursday, August 27th. Cantor Fitzgerald restated an "overweight" rating and issued a $350.00 price target on shares of NVIDIA in a report on Thursday, October 1st. Yorkville Ives assumed coverage on NVIDIA in a research report on Tuesday, October 6th. They set an "outperform" rating and a $300.00 price objective for the company. Truist Financial upped their price objective on NVIDIA from $307.00 to $346.00 and gave the stock a "buy" rating in a research report on Thursday, August 27th. Finally, Oppenheimer set a $315.00 price objective on NVIDIA and gave the stock an "outperform" rating in a report on Thursday, August 27th. 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 MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $318.85.

NVIDIA Stock Performance

Shares of NVDA opened at $186.64 on Monday. The stock has a market capitalization of $4.50 trillion, a price-to-earnings ratio of 23.60, a PEG ratio of 1.43 and a beta of 2.21. NVIDIA Corporation has a 12 month low of $164.27 and a 12 month high of $243.37. The firm has a fifty day simple moving average of $219.80 and a 200 day simple moving average of $204.53. The company has a current ratio of 4.59, a quick ratio of 3.85 and a debt-to-equity ratio of 0.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued 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. NVIDIA had a net margin of 63.66% and a return on equity of 96.04%. The firm had revenue of $96.22 billion for the quarter, compared to analyst estimates of $92.27 billion. During the same period in the previous year, the business earned $1.05 EPS. The company's revenue was up 105.9% compared to the same quarter last year. Research analysts forecast that NVIDIA Corporation will post 9.30 EPS for the current fiscal year.

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

NVIDIA Announces Dividend

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. The ex-dividend date was Thursday, September 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. NVIDIA's dividend payout ratio (DPR) is presently 12.64%.

NVIDIA News Roundup

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: Some investors see the decline as a buying opportunity, citing NVIDIA’s strong AI-chip position and profitability. ARK Invest also reportedly added $45.9 million of NVDA shares during the sell-off. Nvidia Stock Rises on Dip-Buying: 3 Reasons to Be Optimistic
• Positive Sentiment: CEO Jensen Huang says the next-generation Vera Rubin platform could generate more revenue per gigawatt of data-center capacity than the current platform, supporting the case for continued growth. Jensen Huang Says Nvidia's Next-Gen Vera Rubin Chips Will Generate $40 Billion in Revenue per Gigawatt
• Neutral Sentiment: NVIDIA’s upcoming Nov. 17 results are a key near-term catalyst: investors will look for evidence that demand and guidance can ease fears about AI spending and justify the stock’s recovery. Nvidia Investors Need to Be Paying Attention on Nov. 17
• Negative Sentiment: The rebound follows a steep sell-off that wiped roughly $450 billion from NVIDIA’s market value. Investors are worried that a Democratic-led Congress, data-center permitting or regulatory hurdles, high capital costs, and uncertain returns could delay infrastructure projects and weaken future chip demand. AI stocks hammered by midterm shock as data center buildout becomes a 'war of attrition'
• Negative Sentiment: Reports that NVIDIA may be taking on greater exposure to financially strained “neocloud” customers raise concern that it could face risks beyond selling chips if those providers struggle to fund data centers. As neoclouds face a financial reckoning, Nvidia has to decide how far to go to help

NVIDIA Company Profile

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.

Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Corporation (NASDAQ:NVDA - Free Report).

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.