Seven Mile Advisory reduced its position in shares of NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 19.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,780 shares of the computer hardware maker’s stock after selling 23,667 shares during the period. NVIDIA accounts for about 3.2% of Seven Mile Advisory’s holdings, making the stock its 8th biggest position. Seven Mile Advisory’s holdings in NVIDIA were worth $18,609,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in NVDA. Joule Financial LLC raised its position in NVIDIA by 2.2% in the third quarter. Joule Financial LLC now owns 2,308 shares of the computer hardware maker’s stock worth $431,000 after acquiring an additional 50 shares during the period. Presidio Capital Management LLC raised its position in NVIDIA by 0.4% in the fourth quarter. Presidio Capital Management LLC now owns 15,137 shares of the computer hardware maker’s stock worth $2,823,000 after acquiring an additional 53 shares during the period. LMG Wealth Partners LLC raised its position in NVIDIA by 0.7% in the fourth quarter. LMG Wealth Partners LLC now owns 7,649 shares of the computer hardware maker’s stock worth $1,427,000 after acquiring an additional 53 shares during the period. Vision Financial Markets LLC raised its position in NVIDIA by 1.2% in the third quarter. Vision Financial Markets LLC now owns 4,640 shares of the computer hardware maker’s stock worth $866,000 after acquiring an additional 53 shares during the period. Finally, IMG Wealth Management Inc. raised its stake in shares of NVIDIA by 1.4% in the third quarter. IMG Wealth Management Inc. now owns 3,820 shares of the computer hardware maker’s stock valued at $713,000 after buying an additional 54 shares during the period. 65.27% of the stock is owned by institutional investors.
More NVIDIA News
Here are the key news stories impacting NVIDIA this week:
- Positive Sentiment: NVIDIA said it plans to raise about $20 billion through its first U.S. investment-grade bond offering since 2021. Investors appear to view the move as a sign of confidence in future cash flows and a way to fund massive AI-chip and infrastructure investments without stressing the balance sheet. Reuters article
- Positive Sentiment: The bond-sale news also reinforced the view that demand for NVIDIA’s AI hardware remains extremely strong, since the company is tapping debt markets to help meet capital needs tied to its AI leadership. CNBC article
- Positive Sentiment: Shares also benefited from a broader semiconductor and tech rally, with chip stocks and AI names trading strongly after improved market sentiment and reports of easing geopolitical tensions. 247WallSt article
Insider Transactions at NVIDIA
Analyst Ratings Changes
Several research analysts have recently weighed in on NVDA shares. Wells Fargo & Company reiterated an “overweight” rating and set a $315.00 price target (up from $265.00) on shares of NVIDIA in a research note on Tuesday, May 12th. Stifel Nicolaus set a $282.00 price objective on NVIDIA and gave the company a “buy” rating in a research note on Thursday, May 21st. Truist Financial upped their price objective on shares of NVIDIA from $287.00 to $307.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Benchmark reiterated a “buy” rating and issued a $335.00 target price (up from $250.00) on shares of NVIDIA in a research note on Thursday, May 21st. Finally, CICC Research boosted their price target on shares of NVIDIA from $240.60 to $268.30 and gave the company an “outperform” rating in a research report on Friday, May 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, forty-eight have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $305.67.
Get Our Latest Stock Analysis on NVIDIA
NVIDIA Stock Up 3.5%
NVDA stock opened at $212.45 on Tuesday. The stock has a 50-day simple moving average of $207.54 and a two-hundred day simple moving average of $191.65. NVIDIA Corporation has a twelve month low of $142.03 and a twelve month high of $236.54. The firm has a market capitalization of $5.14 trillion, a PE ratio of 32.53, a PEG ratio of 0.46 and a beta of 2.22. The company has a quick ratio of 2.85, a current ratio of 3.44 and a debt-to-equity ratio of 0.04.
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced 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 net margin of 62.97% and a return on equity of 96.94%. The firm had revenue of $81.62 billion for the quarter, compared to the consensus estimate of $78.42 billion. During the same period in the prior year, the firm posted $0.81 earnings per share. The company’s revenue for the quarter was up 85.2% on a year-over-year basis. On average, equities analysts predict that NVIDIA Corporation will post 8.65 EPS for the current fiscal year.
NVIDIA declared that its Board of Directors has authorized a share repurchase program on Wednesday, May 20th that allows the company to repurchase $80.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
NVIDIA Increases Dividend
The company also recently announced 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. The ex-dividend date is Thursday, June 4th. This represents a $1.00 annualized dividend and a yield of 0.5%. This is a boost from NVIDIA’s previous quarterly dividend of $0.01. NVIDIA’s dividend payout ratio is currently 15.31%.
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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