NVIDIA Corporation $NVDA Shares Purchased by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC grew its holdings in NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 5.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 335,027 shares of the computer hardware maker’s stock after buying an additional 16,549 shares during the quarter. NVIDIA accounts for approximately 3.9% of Turtle Creek Wealth Advisors LLC’s holdings, making the stock its 3rd biggest holding. Turtle Creek Wealth Advisors LLC’s holdings in NVIDIA were worth $76,514,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVDA. Jupiter Topco LLC acquired a new position in NVIDIA in the second quarter worth about $16,156,076,000. Van ECK Associates Corp boosted its holdings in NVIDIA by 34.7% during the second quarter. Van ECK Associates Corp now owns 75,849,721 shares of the computer hardware maker’s stock valued at $15,176,771,000 after purchasing an additional 19,522,304 shares in the last quarter. State Street Corp boosted its holdings in NVIDIA by 1.6% during the second quarter. State Street Corp now owns 1,009,783,437 shares of the computer hardware maker’s stock valued at $202,047,568,000 after purchasing an additional 15,897,836 shares in the last quarter. Amundi grew its stake in shares of NVIDIA by 10.4% in the 1st quarter. Amundi now owns 133,768,018 shares of the computer hardware maker’s stock valued at $23,329,141,000 after purchasing an additional 12,575,177 shares during the period. Finally, Nykredit A S bought a new stake in shares of NVIDIA in the 2nd quarter valued at approximately $2,315,956,000. 65.27% of the stock is owned by institutional investors.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $186.64 on Monday. NVIDIA Corporation has a 12-month low of $164.27 and a 12-month high of $243.37. The firm’s 50-day simple moving average is $219.80 and its 200 day simple moving average is $204.53. 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 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 posted its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.13. NVIDIA had a net margin of 63.66% and a return on equity of 96.04%. The firm had revenue of $96.22 billion during the quarter, compared to analysts’ expectations of $92.27 billion. During the same quarter last year, the company posted $1.05 EPS. The company’s quarterly revenue was up 105.9% compared to the same quarter last year. On average, research analysts expect that NVIDIA Corporation will post 9.30 earnings per share for the current fiscal year.

NVIDIA announced that its board has authorized a share repurchase program 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. Stock buyback programs are typically an indication that the company’s leadership 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 paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, September 10th. NVIDIA’s dividend payout ratio is 12.64%.

Insider Activity

In related news, EVP Timothy Teter sold 30,460 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $222.80, for a total value of $6,786,488.00. Following the completion of the sale, the executive vice president owned 2,687,660 shares of the company’s stock, valued at $598,810,648. This trade represents a 1.12% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Colette Kress sold 34,918 shares of the business’s stock in a transaction that occurred 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 owned 765,103 shares of the company’s stock, valued at $167,595,812.15. This trade represents a 4.36% 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 1,766,118 shares of company stock valued at $399,450,353 over the last three months. 3.94% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of recent research reports. China Renaissance increased their target price on NVIDIA from $319.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, August 31st. DZ Bank reaffirmed a “buy” rating on shares of NVIDIA in a research note on Wednesday, August 26th. UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a research note on Friday, October 9th. Piper Sandler assumed coverage on NVIDIA in a research report on Wednesday, September 9th. They issued an “overweight” rating and a $300.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price objective on NVIDIA from $280.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, August 27th. Five investment 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $318.85.

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About NVIDIA

(Free Report)

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.

See Also

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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