Turn8 Private Wealth Inc. Reduces Holdings in NVIDIA Corporation $NVDA

Turn8 Private Wealth Inc. cut its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 10.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,193 shares of the computer hardware maker's stock after selling 3,339 shares during the quarter. NVIDIA accounts for about 2.6% of Turn8 Private Wealth Inc.'s investment portfolio, making the stock its 18th largest holding. Turn8 Private Wealth Inc.'s holdings in NVIDIA were worth $3,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Astoria Portfolio Advisors LLC. boosted its holdings in NVIDIA by 0.9% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock valued at $9,610,000 after acquiring an additional 864 shares during the period. Centerpoint Advisory Group lifted its holdings in NVIDIA by 2.5% in the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after buying an additional 943 shares during the period. GSB Wealth Management LLC lifted its holdings in NVIDIA by 3.3% in the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after buying an additional 1,043 shares during the period. Variant Private Wealth LLC lifted its holdings in NVIDIA by 20.6% in the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after buying an additional 3,206 shares during the period. Finally, Financial Perspectives Inc lifted its holdings in NVIDIA by 2.8% in the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after buying an additional 1,265 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Sanford C. Bernstein reiterated an "outperform" rating and issued a $225.00 price objective (up previously from $185.00) on shares of NVIDIA in a report on Thursday, August 28th. DA Davidson upgraded NVIDIA from a "neutral" rating to a "buy" rating and raised their target price for the company from $195.00 to $210.00 in a research note on Thursday. BNP Paribas upgraded NVIDIA to a "hold" rating in a research note on Friday, August 1st. Stifel Nicolaus raised their target price on NVIDIA from $202.00 to $212.00 and gave the company a "buy" rating in a research note on Monday, August 25th. Finally, Barclays raised their target price on NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $207.83.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $177.57, for a total value of $13,317,750.00. Following the completion of the sale, the chief executive officer owned 72,248,366 shares of the company's stock, valued at approximately $12,829,142,350.62. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dawn E. Hudson sold 18,000 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $172.00, for a total value of $3,096,000.00. Following the completion of the transaction, the director owned 368,887 shares in the company, valued at approximately $63,448,564. This trade represents a 4.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,907,755 shares of company stock valued at $633,253,430. Corporate insiders own 4.17% of the company's stock.

NVIDIA Stock Up 0.4%

NVIDIA stock opened at $177.82 on Monday. The firm has a market cap of $4.32 trillion, a price-to-earnings ratio of 50.66, a PEG ratio of 1.29 and a beta of 2.10. The stock has a fifty day simple moving average of $174.42 and a two-hundred day simple moving average of $141.80. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $184.48. The company has a current ratio of 4.21, a quick ratio of 3.60 and a debt-to-equity ratio of 0.08.

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

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA's dividend payout ratio (DPR) is presently 1.14%.

NVIDIA Company 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.

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