LifeSteps Financial Inc. lowered its position in NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 15.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 42,989 shares of the computer hardware maker’s stock after selling 7,858 shares during the quarter. NVIDIA makes up about 5.0% of LifeSteps Financial Inc.’s investment portfolio, making the stock its 3rd largest position. LifeSteps Financial Inc.’s holdings in NVIDIA were worth $9,818,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of NVDA. Retirement Wealth Solutions LLC grew its holdings in NVIDIA by 1.2% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 4,121 shares of the computer hardware maker’s stock valued at $825,000 after buying an additional 47 shares in the last quarter. LightSquare Wealth Management LLC raised its position in shares of NVIDIA by 0.3% during the second quarter. LightSquare Wealth Management LLC now owns 18,695 shares of the computer hardware maker’s stock valued at $3,741,000 after buying an additional 49 shares during the last quarter. Defender Capital LLC. raised its position in shares of NVIDIA by 0.7% during the second quarter. Defender Capital LLC. now owns 7,534 shares of the computer hardware maker’s stock valued at $1,507,000 after buying an additional 50 shares during the last quarter. Kooman & Associates lifted its holdings in shares of NVIDIA by 0.6% in the second quarter. Kooman & Associates now owns 8,464 shares of the computer hardware maker’s stock worth $1,694,000 after buying an additional 50 shares in the last quarter. Finally, Roof Eidam Maycock Peralta LLC lifted its holdings in shares of NVIDIA by 0.3% in the second quarter. Roof Eidam Maycock Peralta LLC now owns 18,827 shares of the computer hardware maker’s stock worth $3,767,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.
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 Stock Performance
Shares of NVIDIA stock opened at $186.64 on Monday. The stock’s fifty day moving average is $219.80 and its two-hundred day moving average is $204.53. The company has a market capitalization of $4.50 trillion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 1.43 and a beta of 2.21. The company has a quick ratio of 3.85, a current ratio of 4.59 and a debt-to-equity ratio of 0.14. NVIDIA Corporation has a 52 week low of $164.27 and a 52 week high of $243.37.
NVIDIA (NASDAQ:NVDA – Get Free Report) last released its earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share for the quarter, topping 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 business had revenue of $96.22 billion for the quarter, compared to analyst estimates of $92.27 billion. During the same quarter last year, the firm posted $1.05 earnings per share. The business’s revenue was up 105.9% compared to the same quarter last year. As a group, analysts expect that NVIDIA Corporation will post 9.30 earnings per share for the current year.
NVIDIA announced that its board has authorized a stock buyback plan on Monday, September 28th that authorizes the company to repurchase $150 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to purchase 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 stock is 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 issued a $0.25 dividend. The ex-dividend date was Thursday, September 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. NVIDIA’s dividend payout ratio is presently 12.64%.
Insider Transactions at NVIDIA
In related news, EVP Timothy Teter sold 30,460 shares of the firm’s stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through 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 NVIDIA stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $219.05, for a total transaction of $7,648,787.90. Following the sale, the chief financial officer owned 765,103 shares of the company’s stock, valued at $167,595,812.15. The trade was a 4.36% decrease in their position. 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. Over the last ninety days, insiders have sold 1,766,118 shares of company stock worth $399,450,353. Insiders own 3.94% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently weighed in on NVDA. Truist Financial upped their target price on shares of NVIDIA from $307.00 to $346.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. TD Cowen reaffirmed a “buy” rating on shares of NVIDIA in a research note on Tuesday, August 18th. UBS Group reiterated a “buy” rating on shares of NVIDIA in a report on Friday, October 9th. Wells Fargo & Company set a $210.00 price target on shares of NVIDIA in a research note on Friday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of NVIDIA in a report on Monday, August 31st. Five investment analysts have rated the stock with a Strong Buy rating, forty-eight have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $318.85.
Check Out Our Latest Stock Analysis on NVIDIA
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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