Premier Fund Managers Ltd Purchases 18,108 Shares of NVIDIA Corporation $NVDA

Key Points

• Premier Fund Managers Ltd increased its NVIDIA stake by 17.9% in the fourth quarter, buying 18,108 additional shares and bringing its holdings to 119,085 shares valued at about $22.3 million.
• Wall Street remains broadly bullish on NVIDIA, with several analysts raising price targets and the consensus rating still at Buy with an average target of $305.38.
• NVIDIA reported strong quarterly results, beating earnings and revenue estimates, while also boosting its dividend and authorizing an $80 billion share buyback.

Premier Fund Managers Ltd lifted its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 17.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 119,085 shares of the computer hardware maker's stock after buying an additional 18,108 shares during the quarter. Premier Fund Managers Ltd's holdings in NVIDIA were worth $22,334,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NVDA. State Street Corp lifted its stake in shares of NVIDIA by 1.0% during the 2nd quarter. State Street Corp now owns 978,208,862 shares of the computer hardware maker's stock worth $154,556,803,000 after purchasing an additional 9,554,857 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of NVIDIA by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 579,213,497 shares of the computer hardware maker's stock worth $91,150,170,000 after purchasing an additional 8,521,936 shares during the last quarter. Norges Bank purchased a new stake in shares of NVIDIA during the 2nd quarter worth $51,386,863,000. Legal & General Group Plc lifted its stake in shares of NVIDIA by 1.5% during the 3rd quarter. Legal & General Group Plc now owns 181,203,035 shares of the computer hardware maker's stock worth $33,808,862,000 after purchasing an additional 2,609,560 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in shares of NVIDIA by 16.1% during the 3rd quarter. Capital Research Global Investors now owns 165,377,852 shares of the computer hardware maker's stock worth $30,855,564,000 after purchasing an additional 22,896,705 shares during the last quarter. Institutional investors own 65.27% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Truist Financial upped their price objective on NVIDIA from $287.00 to $307.00 and gave the stock a "buy" rating in a research note on Thursday, May 21st. Melius Research set a $400.00 price objective on NVIDIA in a research note on Thursday, May 21st. DA Davidson upped their price objective on NVIDIA from $250.00 to $300.00 and gave the stock a "buy" rating in a research note on Monday, May 18th. JPMorgan Chase & Co. increased their price target on NVIDIA from $265.00 to $280.00 and gave the company an "overweight" rating in a research note on Thursday, May 21st. Finally, HSBC reiterated a "buy" rating and issued a $325.00 price target (up from $295.00) on shares of NVIDIA in a research note on Tuesday, May 19th. Three research 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 company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $305.38.

Insider Activity

In related news, Director Aarti S. Shah sold 19,000 shares of the firm's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $176.71, for a total transaction of $3,357,490.00. Following the sale, the director directly owned 36,007 shares of the company's stock, valued at $6,362,796.97. This trade represents a 34.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 300,000 shares of the firm's stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $182.25, for a total value of $54,675,000.00. Following the sale, the executive vice president directly owned 3,018,547 shares in the company, valued at approximately $550,130,190.75. This trade represents a 9.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 906,961 shares of company stock valued at $162,936,268 over the last 90 days. Company insiders own 3.94% of the company's stock.

Key NVIDIA News

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

NVIDIA Stock Down 1.5%

Shares of NVDA stock opened at $211.14 on Friday. The stock's 50-day simple moving average is $199.28 and its 200-day simple moving average is $189.70. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.85 and a current ratio of 3.44. The firm has a market capitalization of $5.11 trillion, a PE ratio of 32.33, a P/E/G ratio of 0.51 and a beta of 2.25. NVIDIA Corporation has a fifty-two week low of $132.92 and a fifty-two week high of $236.54.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced 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. The business had revenue of $81.62 billion for the quarter, compared to analyst estimates of $78.42 billion. NVIDIA had a return on equity of 96.94% and a net margin of 62.97%.The company's revenue was up 85.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 earnings per share. Equities analysts expect that NVIDIA Corporation will post 8.04 earnings per share for the current year.

NVIDIA Increases Dividend

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

NVIDIA announced that its board has approved a stock repurchase program on Wednesday, May 20th that authorizes the company to buyback $80.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

NVIDIA Company Profile

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.

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.