Uptown Financial Advisors LLC Purchases 5,249 Shares of NVIDIA Corporation $NVDA

Key Points

• Uptown Financial Advisors increased its NVIDIA stake by 93% in the third quarter, buying 5,249 shares to bring its holdings to 10,895 shares, valued at $2.488 million.
• Analyst sentiment was broadly positive: NVIDIA had a consensus “Buy” rating and an average price target of $317.57, though one analyst downgraded the stock to “Hold.”
• NVIDIA beat quarterly earnings and revenue estimates, with revenue up 105.9% year over year; its board also authorized a $150 billion share-repurchase plan.

Uptown Financial Advisors LLC grew its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 93.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,895 shares of the computer hardware maker's stock after purchasing an additional 5,249 shares during the period. NVIDIA makes up 1.8% of Uptown Financial Advisors LLC's portfolio, making the stock its 14th biggest position. Uptown Financial Advisors LLC's holdings in NVIDIA were worth $2,488,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Retirement Wealth Solutions LLC increased its holdings in shares of NVIDIA by 1.2% in the 2nd quarter. Retirement Wealth Solutions LLC now owns 4,121 shares of the computer hardware maker's stock valued at $825,000 after purchasing an additional 47 shares during the period. LightSquare Wealth Management LLC boosted its holdings in shares of NVIDIA by 0.3% during the second quarter. LightSquare Wealth Management LLC now owns 18,695 shares of the computer hardware maker's stock worth $3,741,000 after purchasing an additional 49 shares during the period. Defender Capital LLC. grew its position in NVIDIA by 0.7% during the second quarter. Defender Capital LLC. now owns 7,534 shares of the computer hardware maker's stock valued at $1,507,000 after purchasing an additional 50 shares in the last quarter. Kooman & Associates grew its position in NVIDIA by 0.6% during the second quarter. Kooman & Associates now owns 8,464 shares of the computer hardware maker's stock valued at $1,694,000 after purchasing an additional 50 shares in the last quarter. Finally, Roof Eidam Maycock Peralta LLC grew its position in NVIDIA by 0.3% during the second quarter. Roof Eidam Maycock Peralta LLC now owns 18,827 shares of the computer hardware maker's stock valued at $3,767,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NVDA shares. Jefferies Financial Group reaffirmed a "buy" rating on shares of NVIDIA in a research note on Wednesday, August 26th. Citigroup reaffirmed a "buy" rating and set a $315.00 target price (up from $300.00) on shares of NVIDIA in a research report on Thursday, August 27th. Evercore set a $465.00 price target on NVIDIA and gave the company an "outperform" rating in a report on Thursday, August 27th. Piper Sandler assumed coverage on shares of NVIDIA in a research report on Wednesday, September 9th. They issued an "overweight" rating and a $300.00 price target on the stock. Finally, Aletheia Capital cut shares of NVIDIA from a "buy" rating to a "hold" rating in a research note on Monday. Five investment analysts have rated the stock with a Strong Buy rating, forty-eight have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $317.57.

NVIDIA Price Performance

Shares of NVDA stock opened at $178.67 on Tuesday. The stock's fifty day moving average is $219.03 and its 200-day moving average is $204.50. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.85 and a current ratio of 4.59. The stock has a market capitalization of $4.31 trillion, a PE ratio of 22.59, a PEG ratio of 1.54 and a beta of 2.21. NVIDIA Corporation has a 52 week low of $164.27 and a 52 week high of $243.37.

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

NVIDIA Dividend Announcement

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

NVIDIA declared that its Board of Directors has approved a stock repurchase plan on Monday, September 28th that authorizes the company to repurchase $150 billion in shares. This buyback authorization authorizes the computer hardware maker to purchase up to 2.8% of its shares through open market purchases. Share buyback plans are generally an indication that the company's board believes its stock is undervalued.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 622,239 shares of the company's stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $231.62, for a total value of $144,122,997.18. Following the completion of the transaction, the director owned 2,336,531 shares in the company, valued at $541,187,310.22. This represents a 21.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy S. Teter sold 30,460 shares of the stock in a transaction dated Monday, September 21st. The stock was 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 approximately $598,810,648. This trade represents a 1.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,766,118 shares of company stock valued at $399,450,353 over the last three months. 3.94% of the stock is currently owned by corporate insiders.

Key Stories Impacting NVIDIA

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: NVIDIA’s underlying business remains strong: its latest reported quarter beat estimates, with revenue up 105.9% year over year. That growth may help support the stock if the controversy does not disrupt operations. Article: Jensen Huang Might Be the Biggest Wild Card for Nvidia Stock
• Positive Sentiment: The company also announced a South Korean AI-infrastructure collaboration with Rebellions and SK Telecom, extending use of NVIDIA’s NVLink platform. Article: NVIDIA, Rebellions and SK Telecom Announce Collaboration
• Neutral Sentiment: NVIDIA’s board has begun an independent investigation into reports that Huang was targeted by a foreign intelligence effort. The board said it has no reason to believe company secrets or national security were compromised; Huang says he is cooperating. The outcome remains uncertain. Article: Statement from NVIDIA Board of Directors
• Negative Sentiment: The investigation follows Huang’s admission of an affair with Alice Huang, a former executive at a company that buys NVIDIA chips, who U.S. intelligence reportedly suspects of links to Chinese intelligence. Investors are concerned about potential exposure of sensitive information, reputational damage, and complications for NVIDIA’s China business. Article: Nvidia Shares Slump on Spy Probe
• Negative Sentiment: Shareholder litigation and possible congressional scrutiny add legal and regulatory risks. Questions about Huang’s future also weigh on sentiment, as reports say NVIDIA has no clear public succession plan for its founder and long-serving CEO. Article: Nvidia’s CEO Turmoil Gives Democrats Fresh Ammunition for Oversight Article: Jensen Huang Affair Puts Nvidia’s Future at Risk

NVIDIA Profile

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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