Pension & Wealth Management Advisors Inc. Purchases 9,770 Shares of NVIDIA Corporation $NVDA

Key Points

• Pension & Wealth Management Advisors increased its NVIDIA stake 45.7% in the third quarter, buying 9,770 shares to hold 31,132 shares worth about $7.11 million.
• Analysts were broadly positive, with a consensus “Buy” rating and an average price target of $314.24; institutional investors owned 65.27% of NVIDIA shares.
• NVIDIA beat quarterly earnings and revenue estimates, with revenue up 105.9% year over year. The company also authorized a $150 billion share repurchase program.

Pension & Wealth Management Advisors Inc. increased its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 45.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,132 shares of the computer hardware maker's stock after purchasing an additional 9,770 shares during the period. NVIDIA makes up 1.6% of Pension & Wealth Management Advisors Inc.'s portfolio, making the stock its 12th largest holding. Pension & Wealth Management Advisors Inc.'s holdings in NVIDIA were worth $7,110,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of NVIDIA by 1.6% during the second quarter. State Street Corp now owns 1,009,783,437 shares of the computer hardware maker's stock valued at $202,047,568,000 after buying an additional 15,897,836 shares during the period. Bank of America Corp DE grew its stake in shares of NVIDIA by 2.2% during the second quarter. Bank of America Corp DE now owns 195,366,864 shares of the computer hardware maker's stock valued at $39,090,956,000 after buying an additional 4,165,875 shares during the last quarter. Amundi raised its holdings in shares of NVIDIA by 10.4% in the first quarter. Amundi now owns 133,768,018 shares of the computer hardware maker's stock worth $23,329,141,000 after buying an additional 12,575,177 shares during the period. Deutsche Bank AG raised its holdings in shares of NVIDIA by 2.3% in the second quarter. Deutsche Bank AG now owns 91,954,159 shares of the computer hardware maker's stock worth $18,399,108,000 after buying an additional 2,045,101 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of NVIDIA by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 94,521,253 shares of the computer hardware maker's stock worth $16,479,126,000 after buying an additional 555,221 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NVDA shares. President Capital boosted their price objective on NVIDIA from $295.00 to $330.00 in a report on Thursday, August 27th. DA Davidson reaffirmed a "buy" rating and issued a $300.00 price objective on shares of NVIDIA in a research report on Thursday, August 27th. BNP Paribas Exane reiterated an "outperform" rating and issued a $345.00 target price on shares of NVIDIA in a research note on Monday, October 5th. Oppenheimer set a $315.00 target price on NVIDIA and gave the stock an "outperform" rating in a research report on Thursday, August 27th. Finally, DZ Bank reissued a "buy" rating on shares of NVIDIA in a research note on Wednesday, August 26th. Five research analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, NVIDIA currently has an average rating of "Buy" and a consensus target price of $314.24.

Insider Buying and Selling at NVIDIA

In other news, EVP Timothy S. Teter sold 30,460 shares of NVIDIA 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 owned 2,687,660 shares of the company's stock, valued at $598,810,648. The trade was a 1.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark A. Stevens sold 622,239 shares of the business's stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $231.62, for a total transaction of $144,122,997.18. Following the transaction, the director owned 2,336,531 shares of the company's stock, valued at approximately $541,187,310.22. This trade represents a 21.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,766,118 shares of company stock valued at $399,450,353. 3.94% of the stock is currently owned by insiders.

NVIDIA Trading Up 2.9%

NVDA opened at $173.73 on Thursday. The company has a current ratio of 4.59, a quick ratio of 3.85 and a debt-to-equity ratio of 0.14. The firm has a market cap of $4.19 trillion, a price-to-earnings ratio of 21.96, a PEG ratio of 1.30 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 stock has a fifty day moving average price of $217.12 and a 200-day moving average price of $204.35.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share for the quarter, beating analysts' consensus estimates of $2.09 by $0.13. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. The company had revenue of $96.22 billion for the quarter, compared to the consensus estimate of $92.27 billion. During the same quarter last year, the company earned $1.05 earnings per share. The firm's revenue for the quarter was up 105.9% compared to the same quarter last year. As a group, equities research analysts anticipate that NVIDIA Corporation will post 9.30 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, September 10th. NVIDIA's dividend payout ratio is presently 12.64%.

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

Top NVIDIA Stories

Investors following NVDA have been watching these stories:

• Positive Sentiment: Better-than-expected results from AI cloud provider CoreWeave revived confidence that data-center infrastructure spending remains strong, supporting demand for NVIDIA’s chips. Article: Nvidia rebounds as CoreWeave earnings reignite the AI trade
• Neutral Sentiment: Analyst views remain divided: Baird cut its rating to Neutral and sharply lowered its target, while Morgan Stanley retained an Overweight rating and a $300 target. Article: Analysts disagree on Nvidia
• Negative Sentiment: The New York Times reported a second alleged relationship involving Huang and a direct report; the Wall Street Journal separately reported that NVIDIA’s board is preparing to oust him. The reports raise leadership, governance, and succession concerns for a company closely associated with its longtime CEO. Article: Report on Huang’s future at Nvidia

About NVIDIA

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.

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