Ninety One North America Inc. trimmed its stake in shares of NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 6.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 137,511 shares of the computer hardware maker’s stock after selling 9,022 shares during the quarter. NVIDIA makes up 1.6% of Ninety One North America Inc.’s portfolio, making the stock its 24th biggest position. Ninety One North America Inc.’s holdings in NVIDIA were worth $31,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in the stock. Montgomery Financial Services LLC bought a new position in shares of NVIDIA during the second quarter worth about $28,000. Newton One Investments LLC acquired a new position in NVIDIA in the third quarter worth about $34,000. Phillip James Consulting Co. bought a new stake in NVIDIA in the first quarter valued at about $40,000. Bard Associates Inc. increased its holdings in NVIDIA by 8,866.7% in the second quarter. Bard Associates Inc. now owns 269 shares of the computer hardware maker’s stock valued at $54,000 after buying an additional 266 shares during the last quarter. Finally, Frankly Finances LLC bought a new stake in NVIDIA in the second quarter valued at about $60,000. 65.27% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CFO Colette Kress sold 34,918 shares of the company’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $219.05, for a total transaction of $7,648,787.90. Following the completion of the transaction, the chief financial officer directly owned 765,103 shares in the company, valued at $167,595,812.15. This represents a 4.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Timothy S. Teter sold 30,460 shares of the company’s stock in a transaction on 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. The trade was a 1.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,766,118 shares of company stock valued at $399,450,353. Insiders own 3.94% of the company’s stock.
Analyst Ratings Changes
Several analysts have issued reports on the company. Rosenblatt Securities restated a “buy” rating and set a $390.00 price objective on shares of NVIDIA in a research note on Tuesday, September 29th. DA Davidson reiterated a “buy” rating and issued a $300.00 target price on shares of NVIDIA in a research report on Thursday, August 27th. Rothschild & Co Redburn boosted their price target on NVIDIA from $300.00 to $325.00 in a report on Thursday, August 27th. KeyCorp reissued an “overweight” rating and set a $330.00 price target on shares of NVIDIA in a research report on Monday, August 24th. Finally, UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a report on Friday, October 9th. Five analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $318.85.
View Our Latest Report on NVIDIA
NVIDIA Price Performance
NVDA opened at $186.64 on Monday. The company has a quick ratio of 3.85, a current ratio of 4.59 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average price is $219.80 and its 200 day moving average price is $204.53. NVIDIA Corporation has a fifty-two week low of $164.27 and a fifty-two week high of $243.37. The firm has a market cap of $4.50 trillion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 1.43 and a beta of 2.21.
NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.13. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. The company had revenue of $96.22 billion during the quarter, compared to the consensus estimate of $92.27 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. NVIDIA’s quarterly revenue was up 105.9% compared to the same quarter last year. As a group, sell-side analysts expect that NVIDIA Corporation will post 9.30 earnings per share for the current year.
NVIDIA declared that its Board of Directors has initiated a stock repurchase plan on Monday, September 28th that permits the company to repurchase $150 billion in outstanding shares. This buyback authorization permits the computer hardware maker to buy up to 2.8% of its shares through open market purchases. Share buyback plans are generally an indication that the company’s management believes its shares are undervalued.
NVIDIA Announces Dividend
The business 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 0.5%. The ex-dividend date was Thursday, September 10th. NVIDIA’s dividend payout ratio is presently 12.64%.
NVIDIA News Summary
Here are the key news stories impacting NVIDIA this week:
- Positive Sentiment: Some investors see the decline as a buying opportunity, citing NVIDIA’s strong AI-chip position and profitability. ARK Invest also reportedly added $45.9 million of NVDA shares during the sell-off. Nvidia Stock Rises on Dip-Buying: 3 Reasons to Be Optimistic
- Positive Sentiment: CEO Jensen Huang says the next-generation Vera Rubin platform could generate more revenue per gigawatt of data-center capacity than the current platform, supporting the case for continued growth. Jensen Huang Says Nvidia’s Next-Gen Vera Rubin Chips Will Generate $40 Billion in Revenue per Gigawatt
- Neutral Sentiment: NVIDIA’s upcoming Nov. 17 results are a key near-term catalyst: investors will look for evidence that demand and guidance can ease fears about AI spending and justify the stock’s recovery. Nvidia Investors Need to Be Paying Attention on Nov. 17
- Negative Sentiment: The rebound follows a steep sell-off that wiped roughly $450 billion from NVIDIA’s market value. Investors are worried that a Democratic-led Congress, data-center permitting or regulatory hurdles, high capital costs, and uncertain returns could delay infrastructure projects and weaken future chip demand. AI stocks hammered by midterm shock as data center buildout becomes a ‘war of attrition’
- Negative Sentiment: Reports that NVIDIA may be taking on greater exposure to financially strained “neocloud” customers raise concern that it could face risks beyond selling chips if those providers struggle to fund data centers. As neoclouds face a financial reckoning, Nvidia has to decide how far to go to help
NVIDIA Company 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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