Palmer Knight Co Decreases Stock Position in NVIDIA Corporation $NVDA

Key Points

• Palmer Knight Co cut its NVIDIA stake by 20.7% in the fourth quarter, selling 4,596 shares and leaving it with 17,557 shares valued at about $3.27 million.
• Institutional interest remains strong overall, with hedge funds and other investors owning 65.27% of NVIDIA shares even as some firms adjusted positions and others added stakes.
• Analyst sentiment is still upbeat: multiple firms raised price targets, and NVIDIA now has a consensus “Buy” rating with an average price target of $305.38.

Palmer Knight Co lowered its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 20.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,557 shares of the computer hardware maker's stock after selling 4,596 shares during the period. NVIDIA makes up approximately 1.7% of Palmer Knight Co's holdings, making the stock its 26th largest holding. Palmer Knight Co's holdings in NVIDIA were worth $3,274,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Indivisible Partners purchased a new position in shares of NVIDIA in the fourth quarter worth about $11,847,000. Navellier & Associates Inc. increased its holdings in NVIDIA by 0.6% during the 4th quarter. Navellier & Associates Inc. now owns 578,972 shares of the computer hardware maker's stock valued at $107,978,000 after purchasing an additional 3,406 shares during the period. Maytree Asset Management Ltd purchased a new position in NVIDIA during the 4th quarter valued at about $11,676,000. Smith & Howard Wealth Management LLC increased its holdings in NVIDIA by 0.7% during the 4th quarter. Smith & Howard Wealth Management LLC now owns 9,195 shares of the computer hardware maker's stock valued at $1,715,000 after purchasing an additional 65 shares during the period. Finally, Equitable Trust Co. increased its holdings in NVIDIA by 13.0% during the 4th quarter. Equitable Trust Co. now owns 149,170 shares of the computer hardware maker's stock valued at $27,820,000 after purchasing an additional 17,178 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.

Analyst Ratings Changes

NVDA has been the topic of a number of research analyst reports. Benchmark restated a "buy" rating and set a $335.00 price target (up from $250.00) on shares of NVIDIA in a report on Thursday, May 21st. Piper Sandler restated an "overweight" rating on shares of NVIDIA in a report on Thursday, February 26th. Robert W. Baird set a $500.00 price target on NVIDIA and gave the company an "outperform" rating in a report on Thursday, May 21st. Craig Hallum boosted their price target on NVIDIA from $245.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, May 21st. Finally, Truist Financial boosted their price target on NVIDIA from $287.00 to $307.00 and gave the company a "buy" rating in a report on Thursday, May 21st. Three investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $305.38.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 221,682 shares of the company's stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $173.68, for a total value of $38,501,729.76. Following the transaction, the director directly owned 7,399,771 shares of the company's stock, valued at approximately $1,285,192,227.28. This represents a 2.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 300,000 shares of the company's stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $182.25, for a total value of $54,675,000.00. Following the completion of the transaction, the executive vice president directly owned 3,018,547 shares in the company, valued at $550,130,190.75. This trade represents a 9.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 906,961 shares of company stock worth $162,936,268 in the last three months. Corporate insiders own 3.94% of the company's stock.

NVIDIA Stock Down 1.5%

NVDA stock opened at $211.14 on Friday. NVIDIA Corporation has a twelve month low of $132.92 and a twelve month high of $236.54. The company has a quick ratio of 2.85, a current ratio of 3.44 and a debt-to-equity ratio of 0.04. The firm has a market cap of $5.11 trillion, a PE ratio of 32.33, a price-to-earnings-growth ratio of 0.52 and a beta of 2.25. The business has a 50 day moving average of $199.28 and a 200 day moving average of $189.70.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 20th. The computer hardware maker reported $1.87 earnings per share for the quarter, beating analysts' consensus estimates of $1.76 by $0.11. NVIDIA had a return on equity of 96.94% and a net margin of 62.97%.The company had revenue of $81.62 billion during the quarter, compared to analyst estimates of $78.42 billion. During the same quarter last year, the company earned $0.81 EPS. The firm's revenue for the quarter was up 85.2% on a year-over-year basis. On average, research analysts forecast that NVIDIA Corporation will post 8.04 EPS for the current fiscal year.

NVIDIA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Thursday, June 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. This is an increase from NVIDIA's previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, June 4th. NVIDIA's payout ratio is 0.61%.

NVIDIA declared that its board has initiated a stock repurchase plan on Wednesday, May 20th that allows the company to repurchase $80.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

NVIDIA News Roundup

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: Investors are looking ahead to next week’s Computex conference, which could provide a fresh catalyst for NVIDIA’s AI-chip leadership and keep sentiment constructive around the stock. Why Nvidia stock is up around 1% today
• Positive Sentiment: Analysts and commentators continue to point to NVIDIA as the main winner from the AI server boom, with strong demand for its chips, Blackwell products, and broader data-center ecosystem. Jim Cramer names Nvidia as the winner behind Dell rally
• Positive Sentiment: News that NVIDIA is investing heavily in photonics, with billions directed toward next-generation data-center connectivity, suggests the company is trying to extend its AI leadership beyond GPUs into the next bottlenecks in AI infrastructure. Nvidia is investing billions into this emerging technology that could change the AI industry
• Positive Sentiment: Truist raised its price target on NVDA to $307 and kept a Buy rating, reinforcing the view that the company’s strong quarterly results and growth outlook remain intact. NVIDIA Corporation (NVDA) Stock Update: Truist Raises Target to $307 Following Strong Quarter
• Neutral Sentiment: CEO Jensen Huang’s reported advisory-board role at Tsinghua University keeps NVIDIA visible in China-related tech circles, but it is more of a corporate-profile headline than a direct earnings driver. Nvidia chief Jensen Huang to join board of Beijing's Tsinghua University, FT reports
• Negative Sentiment: Director John Dabiri sold 625 shares under a pre-arranged 10b5-1 trading plan, which is routine but can still add to investor caution when the stock is already expensive and volatile. SEC filing for John Dabiri transaction
• Negative Sentiment: Several articles highlight concerns that NVIDIA’s valuation is stretched and that the stock may be struggling to extend gains after a huge AI-driven run, which can weigh on near-term trading. Nvidia And The Reality Of Paying For Perfection

About NVIDIA

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company's product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

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