Palmer Knight Co cut its stake in shares of NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 20.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,557 shares of the computer hardware maker’s stock after selling 4,596 shares during the quarter. NVIDIA makes up about 1.7% of Palmer Knight Co’s holdings, making the stock its 26th largest holding. Palmer Knight Co’s holdings in NVIDIA were worth $3,274,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Longfellow Investment Management Co. LLC raised its stake in NVIDIA by 47.9% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock valued at $33,000 after buying an additional 67 shares during the last quarter. Spurstone Advisory Services LLC purchased a new stake in NVIDIA during the 2nd quarter valued at $40,000. Syntax Research Inc. raised its stake in NVIDIA by 62.5% during the 4th quarter. Syntax Research Inc. now owns 260 shares of the computer hardware maker’s stock valued at $49,000 after buying an additional 100 shares during the last quarter. Sellwood Investment Partners LLC purchased a new stake in NVIDIA during the 3rd quarter valued at $50,000. Finally, Networth Advisors LLC purchased a new stake in NVIDIA during the 4th quarter valued at $51,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
NVDA has been the subject of a number of research reports. Wall Street Zen upgraded shares of NVIDIA from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 23rd. Sanford C. Bernstein reiterated an “outperform” rating on shares of NVIDIA in a research note on Thursday, May 21st. Truist Financial upped their price objective on NVIDIA from $287.00 to $307.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Stifel Nicolaus set a $282.00 price objective on NVIDIA and gave the stock a “buy” rating in a research note on Thursday, May 21st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $350.00 price objective on shares of NVIDIA in a research note on Thursday, May 21st. Three equities research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Buy” and a consensus price target of $305.38.
Key Stories Impacting NVIDIA
Here are the key news stories impacting NVIDIA this week:
- Positive Sentiment: Investors are looking ahead to next week’s Computex conference, which could provide a fresh catalyst for NVIDIA’s AI-chip leadership and keep sentiment constructive around the stock. Why Nvidia stock is up around 1% today
- Positive Sentiment: Analysts and commentators continue to point to NVIDIA as the main winner from the AI server boom, with strong demand for its chips, Blackwell products, and broader data-center ecosystem. Jim Cramer names Nvidia as the winner behind Dell rally
- Positive Sentiment: News that NVIDIA is investing heavily in photonics, with billions directed toward next-generation data-center connectivity, suggests the company is trying to extend its AI leadership beyond GPUs into the next bottlenecks in AI infrastructure. Nvidia is investing billions into this emerging technology that could change the AI industry
- Positive Sentiment: Truist raised its price target on NVDA to $307 and kept a Buy rating, reinforcing the view that the company’s strong quarterly results and growth outlook remain intact. NVIDIA Corporation (NVDA) Stock Update: Truist Raises Target to $307 Following Strong Quarter
- Neutral Sentiment: CEO Jensen Huang’s reported advisory-board role at Tsinghua University keeps NVIDIA visible in China-related tech circles, but it is more of a corporate-profile headline than a direct earnings driver. Nvidia chief Jensen Huang to join board of Beijing’s Tsinghua University, FT reports
- Negative Sentiment: Director John Dabiri sold 625 shares under a pre-arranged 10b5-1 trading plan, which is routine but can still add to investor caution when the stock is already expensive and volatile. SEC filing for John Dabiri transaction
- Negative Sentiment: Several articles highlight concerns that NVIDIA’s valuation is stretched and that the stock may be struggling to extend gains after a huge AI-driven run, which can weigh on near-term trading. Nvidia And The Reality Of Paying For Perfection
NVIDIA Trading Down 1.5%
Shares of NVDA stock opened at $211.14 on Friday. NVIDIA Corporation has a 52-week low of $132.92 and a 52-week high of $236.54. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.85 and a current ratio of 3.44. The firm has a market capitalization of $5.11 trillion, a PE ratio of 32.33, a PEG ratio of 0.52 and a beta of 2.25. The stock has a fifty day simple moving average of $199.28 and a two-hundred day simple moving average of $189.70.
NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its quarterly earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.11. NVIDIA had a return on equity of 96.94% and a net margin of 62.97%.The business had revenue of $81.62 billion during the quarter, compared to analyst estimates of $78.42 billion. During the same quarter in the prior year, the business posted $0.81 EPS. NVIDIA’s revenue for the quarter was up 85.2% compared to the same quarter last year. On average, analysts predict that NVIDIA Corporation will post 8.04 EPS for the current fiscal year.
NVIDIA Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Thursday, June 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Thursday, June 4th. This is a boost from NVIDIA’s previous quarterly dividend of $0.01. NVIDIA’s dividend payout ratio (DPR) is currently 0.61%.
NVIDIA declared that its Board of Directors has authorized a share buyback plan on Wednesday, May 20th that permits the company to buyback $80.00 billion in shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
Insiders Place Their Bets
In other news, Director Aarti S. Shah sold 19,000 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $176.71, for a total transaction of $3,357,490.00. Following the completion of the transaction, the director owned 36,007 shares in the company, valued at $6,362,796.97. This trade represents a 34.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Dabiri sold 625 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were 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 approximately $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 a total of 906,961 shares of company stock worth $162,936,268 in the last three months. 3.94% of the stock is owned by company insiders.
NVIDIA 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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