Purpose Unlimited Inc. bought a new stake in NVIDIA Corporation (NASDAQ:NVDA – Free Report) in the 4th quarter, Holdings Channel.com reports. The fund bought 1,035,107 shares of the computer hardware maker’s stock, valued at approximately $193,047,000. NVIDIA accounts for approximately 8.8% of Purpose Unlimited Inc.’s holdings, making the stock its 2nd largest position.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp lifted its holdings in NVIDIA by 1.2% during the fourth quarter. State Street Corp now owns 991,480,489 shares of the computer hardware maker’s stock worth $184,911,111,000 after acquiring an additional 11,451,386 shares in the last quarter. Geode Capital Management LLC grew its stake in NVIDIA by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 588,803,093 shares of the computer hardware maker’s stock valued at $109,446,217,000 after acquiring an additional 3,383,441 shares during the period. Norges Bank bought a new stake in shares of NVIDIA in the fourth quarter worth about $62,244,133,000. Bank of America Corp DE raised its position in shares of NVIDIA by 1.5% during the fourth quarter. Bank of America Corp DE now owns 187,181,484 shares of the computer hardware maker’s stock worth $34,909,347,000 after purchasing an additional 2,849,678 shares during the period. Finally, Legal & General Group Plc raised its position in shares of NVIDIA by 1.5% during the third 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 period. 65.27% of the stock is owned by institutional investors.
NVIDIA Stock Performance
Shares of NVDA stock opened at $200.00 on Wednesday. The company’s fifty day simple moving average is $210.62 and its 200-day simple moving average is $192.80. NVIDIA Corporation has a 12 month low of $145.50 and a 12 month high of $236.54. The company has a quick ratio of 2.85, a current ratio of 3.44 and a debt-to-equity ratio of 0.04. The firm has a market cap of $4.84 trillion, a PE ratio of 30.63, a P/E/G ratio of 0.47 and a beta of 2.22.
NVIDIA Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Thursday, June 4th will be given a $0.25 dividend. This is a boost from NVIDIA’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. NVIDIA’s payout ratio is 15.31%.
NVIDIA declared that its Board of Directors has approved a stock buyback program on Wednesday, May 20th that allows the company to buyback $80.00 billion in shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
Analyst Ratings Changes
Several brokerages recently issued reports on NVDA. CICC Research boosted their price objective on NVIDIA from $240.60 to $268.30 and gave the company an “outperform” rating in a research report on Friday, May 22nd. TD Cowen reaffirmed a “buy” rating and issued a $275.00 price target (up from $235.00) on shares of NVIDIA in a research note on Friday, May 15th. Piper Sandler reiterated an “overweight” rating on shares of NVIDIA in a report on Thursday, February 26th. Rothschild & Co Redburn increased their price objective on shares of NVIDIA from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $330.00 price objective on shares of NVIDIA in a report on Thursday, May 21st. Three research analysts have rated the stock with a Strong Buy rating, forty-eight have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $305.67.
Read Our Latest Stock Report on NVDA
Insider Transactions at NVIDIA
In related news, Director Mark A. Stevens sold 885,000 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $210.17, for a total value of $186,000,450.00. Following the completion of the sale, the director directly owned 5,207,271 shares in the company, valued at approximately $1,094,412,146.07. This trade represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Dabiri sold 625 shares of NVIDIA stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $214.00, for a total value of $133,750.00. Following the transaction, the director owned 14,163 shares of the company’s stock, valued at $3,030,882. The trade was a 4.23% 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 1,901,125 shares of company stock worth $410,583,015 in the last ninety days. Insiders own 3.94% of the company’s stock.
NVIDIA News Roundup
Here are the key news stories impacting NVIDIA this week:
- Positive Sentiment: NVIDIA continues to secure new AI-related partnerships and product momentum, including the launch of its BioNeMo Agent Toolkit for life sciences and additional collaborations around digital twins, robotics, and energy infrastructure. Nvidia launches BioNeMo agent toolkit for AI-driven life sciences research
- Positive Sentiment: Analysts and several articles continue to frame NVIDIA as a long-term winner from AI infrastructure buildout, with some bullish commentary pointing to strong earnings growth, major data-center demand, and attractive valuation relative to its growth. Nvidia: The $1 Trillion Trade Hiding In Plain Sight
- Neutral Sentiment: The company’s latest earnings remain a positive backdrop: NVIDIA beat expectations on both EPS and revenue, with revenue up sharply year over year, reinforcing that fundamentals are still strong despite the stock’s weakness.
- Negative Sentiment: AI spending concerns are weighing on the whole chip complex, with reports that SK Hynix is slowing HBM expansion and traders worrying about the sustainability of debt-funded AI capex. That has hit NVIDIA alongside peers like AMD, Intel, Micron, and SanDisk. Lam Research, Qualcomm, and Western Digital Stocks Trade Down, What You Need To Know
- Negative Sentiment: There is also some company-specific headline risk from a Reuters report that NVIDIA was sued by music company Jamendo over AI training, adding to near-term uncertainty. Nvidia sued by music company Jamendo over AI training
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.
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