ZWJ Investment Counsel Inc. Acquires 7,894 Shares of NVIDIA Corporation $NVDA

Key Points

• ZWJ Investment Counsel Inc. increased its holdings in NVIDIA Corporation by 1.3%, acquiring an additional 7,894 shares to own a total of 610,611 shares valued at approximately $96.47 million.
• Several other large investors also heavily increased their positions in NVIDIA, including Kingstone Capital Partners which raised its ownership by a staggering 267,959.7%.
• NVIDIA's stock has received numerous upgrades from analysts, with a consensus rating of "Buy" and an average target price of $222.23, indicating market optimism about its performance.

ZWJ Investment Counsel Inc. raised its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 610,611 shares of the computer hardware maker's stock after purchasing an additional 7,894 shares during the quarter. NVIDIA accounts for approximately 3.6% of ZWJ Investment Counsel Inc.'s investment portfolio, making the stock its 4th biggest position. ZWJ Investment Counsel Inc.'s holdings in NVIDIA were worth $96,470,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Kingstone Capital Partners Texas LLC raised its position in NVIDIA by 267,959.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 382,373,765 shares of the computer hardware maker's stock worth $64,976,521,000 after purchasing an additional 382,231,120 shares during the last quarter. Nuveen LLC bought a new position in NVIDIA during the 1st quarter worth $15,089,414,000. Goldman Sachs Group Inc. raised its position in NVIDIA by 123.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 187,995,213 shares of the computer hardware maker's stock worth $20,374,921,000 after purchasing an additional 103,889,872 shares during the last quarter. Assenagon Asset Management S.A. raised its position in NVIDIA by 204.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock worth $3,864,026,000 after purchasing an additional 23,948,733 shares during the last quarter. Finally, Amundi raised its position in NVIDIA by 16.0% during the 1st quarter. Amundi now owns 135,770,043 shares of the computer hardware maker's stock worth $13,826,199,000 after purchasing an additional 18,733,431 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NVDA. Cantor Fitzgerald set a $300.00 price objective on NVIDIA and gave the stock an "overweight" rating in a research report on Thursday, October 9th. TD Cowen lifted their price objective on NVIDIA from $140.00 to $235.00 and gave the stock a "buy" rating in a research report on Tuesday, August 19th. Sanford C. Bernstein reissued a "buy" rating on shares of NVIDIA in a research report on Tuesday, September 23rd. Benchmark lifted their price objective on NVIDIA from $190.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Finally, Citigroup reissued a "buy" rating and issued a $210.00 price objective (up from $200.00) on shares of NVIDIA in a research report on Tuesday, September 30th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $222.23.

Insider Transactions at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction on Monday, October 20th. The shares were sold at an average price of $183.38, for a total transaction of $13,753,500.00. Following the sale, the chief executive officer owned 70,108,203 shares of the company's stock, valued at $12,856,442,266.14. The trade was a 0.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 3,753,937 shares of company stock worth $669,548,776. Insiders own 4.17% of the company's stock.

NVIDIA Trading Down 0.8%

NASDAQ:NVDA opened at $181.16 on Wednesday. The company has a current ratio of 4.21, a quick ratio of 3.60 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $4.40 trillion, a PE ratio of 51.61, a price-to-earnings-growth ratio of 1.32 and a beta of 2.12. The firm's 50 day moving average is $179.37 and its 200 day moving average is $154.43. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $195.62.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly 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 company had revenue of $46.74 billion for the quarter, compared to analysts' expectations of $45.65 billion. NVIDIA had a net margin of 52.41% and a return on equity of 101.74%. NVIDIA's revenue was up 55.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. NVIDIA has set its Q3 2026 guidance at EPS. Sell-side analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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