Parsons Capital Management Inc. RI Sells 125,600 Shares of NVIDIA Corporation $NVDA

Key Points

• Parsons Capital Management Inc. RI has reduced its NVIDIA holdings by 47.4%, selling 125,600 shares and owning a total of 139,560 shares valued at approximately $22 million.
• NVIDIA reported impressive second-quarter earnings, with an EPS of $1.05, surpassing analysts' expectations, and a revenue increase of 55.6% year-over-year.
• The company has received several upgrades from analysts, with target prices reaching up to $250.00, indicating strong market confidence in NVIDIA's growth potential.

Parsons Capital Management Inc. RI reduced its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 47.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 139,560 shares of the computer hardware maker's stock after selling 125,600 shares during the quarter. NVIDIA comprises approximately 1.4% of Parsons Capital Management Inc. RI's holdings, making the stock its 12th largest holding. Parsons Capital Management Inc. RI's holdings in NVIDIA were worth $22,049,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kathleen S. Wright Associates Inc. increased its stake in NVIDIA by 169.3% in the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker's stock worth $44,000 after purchasing an additional 254 shares during the period. Barnes Dennig Private Wealth Management LLC purchased a new position in NVIDIA in the first quarter valued at about $51,000. Bruce G. Allen Investments LLC grew its stake in NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after purchasing an additional 327 shares during the last quarter. Legend Financial Advisors Inc. acquired a new stake in NVIDIA in the second quarter worth about $55,000. Finally, Campbell Capital Management Inc. boosted its holdings in NVIDIA by 5,900.0% in the first quarter. Campbell Capital Management Inc. now owns 600 shares of the computer hardware maker's stock worth $65,000 after acquiring an additional 590 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Trading Up 0.8%

NVDA opened at $183.22 on Friday. The firm has a market cap of $4.45 trillion, a price-to-earnings ratio of 52.20, a price-to-earnings-growth ratio of 1.32 and a beta of 2.12. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $195.62. The business's 50 day moving average is $179.40 and its two-hundred day moving average is $153.27. The company has a quick ratio of 3.60, a current ratio of 4.21 and a debt-to-equity ratio of 0.08.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, August 27th. The computer hardware maker reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.04. NVIDIA had a return on equity of 101.74% and a net margin of 52.41%.The business had revenue of $46.74 billion for the quarter, compared to analyst estimates of $45.65 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company's revenue for the quarter was up 55.6% compared to the same quarter last year. NVIDIA has set its Q3 2026 guidance at EPS. On average, research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. NVIDIA's dividend payout ratio is 1.14%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Loop Capital upped their target price on NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Benchmark upped their target price on NVIDIA from $190.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Arete increased their price objective on NVIDIA from $235.00 to $244.00 and gave the company a "buy" rating in a research note on Tuesday, October 14th. Hsbc Global Res raised NVIDIA from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Finally, Morgan Stanley raised their target price on NVIDIA from $206.00 to $210.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $222.23.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $181.01, for a total value of $13,575,750.00. Following the sale, the chief executive officer owned 70,333,203 shares of the company's stock, valued at approximately $12,731,013,075.03. This represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 3,753,937 shares of company stock valued at $667,769,026 over the last quarter. 4.17% of the stock is currently owned by corporate insiders.

NVIDIA Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.