WealthPLAN Partners LLC Purchases 5,297 Shares of NVIDIA Corporation $NVDA

WealthPLAN Partners LLC grew its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 9.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,674 shares of the computer hardware maker’s stock after buying an additional 5,297 shares during the quarter. NVIDIA accounts for approximately 2.4% of WealthPLAN Partners LLC’s investment portfolio, making the stock its 6th biggest holding. WealthPLAN Partners LLC’s holdings in NVIDIA were worth $13,400,000 at the end of the most recent quarter.

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

NVIDIA Price Performance

NVDA opened at $178.67 on Tuesday. The company has a market capitalization of $4.31 trillion, a price-to-earnings ratio of 22.59, a PEG ratio of 1.54 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. The firm has a 50-day moving average price of $219.03 and a 200-day moving average price of $204.50. NVIDIA Corporation has a twelve month low of $164.27 and a twelve month high of $243.37.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.13. The company had revenue of $96.22 billion for the quarter, compared to analyst estimates of $92.27 billion. NVIDIA had a net margin of 63.66% and a return on equity of 96.04%. The company’s quarterly revenue was up 105.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 earnings per share. Equities analysts expect that NVIDIA Corporation will post 9.30 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Thursday, September 10th. NVIDIA’s payout ratio is currently 12.64%.

NVIDIA declared that its Board of Directors has approved a stock repurchase program on Monday, September 28th that authorizes the company to repurchase $150 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to buy up to 2.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NVDA shares. DZ Bank restated a “buy” rating on shares of NVIDIA in a research note on Wednesday, August 26th. Zacks Research upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 21st. HSBC increased their price objective on NVIDIA from $360.00 to $365.00 in a report on Thursday, August 27th. TD Cowen reissued a “buy” rating on shares of NVIDIA in a research report on Tuesday, August 18th. Finally, Mizuho set a $250.00 target price on NVIDIA in a research note on Monday. Five analysts have rated the stock with a Strong Buy rating, forty-eight have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $317.57.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark Stevens sold 622,239 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $231.62, for a total transaction of $144,122,997.18. Following the sale, the director owned 2,336,531 shares in the company, valued at $541,187,310.22. This represents a 21.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Colette Kress sold 34,918 shares of the stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $219.05, for a total value of $7,648,787.90. Following the sale, the chief financial officer owned 765,103 shares in the company, valued at approximately $167,595,812.15. This represents 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. Insiders have sold 1,766,118 shares of company stock valued at $399,450,353 in the last 90 days. 3.94% of the stock is currently owned by company insiders.

Key Stories Impacting NVIDIA

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: NVIDIA’s underlying business remains strong: its latest reported quarter beat estimates, with revenue up 105.9% year over year. That growth may help support the stock if the controversy does not disrupt operations. Article: Jensen Huang Might Be the Biggest Wild Card for Nvidia Stock
• Positive Sentiment: The company also announced a South Korean AI-infrastructure collaboration with Rebellions and SK Telecom, extending use of NVIDIA’s NVLink platform. Article: NVIDIA, Rebellions and SK Telecom Announce Collaboration
• Neutral Sentiment: NVIDIA’s board has begun an independent investigation into reports that Huang was targeted by a foreign intelligence effort. The board said it has no reason to believe company secrets or national security were compromised; Huang says he is cooperating. The outcome remains uncertain. Article: Statement from NVIDIA Board of Directors
• Negative Sentiment: The investigation follows Huang’s admission of an affair with Alice Huang, a former executive at a company that buys NVIDIA chips, who U.S. intelligence reportedly suspects of links to Chinese intelligence. Investors are concerned about potential exposure of sensitive information, reputational damage, and complications for NVIDIA’s China business. Article: Nvidia Shares Slump on Spy Probe
• Negative Sentiment: Shareholder litigation and possible congressional scrutiny add legal and regulatory risks. Questions about Huang’s future also weigh on sentiment, as reports say NVIDIA has no clear public succession plan for its founder and long-serving CEO. Article: Nvidia’s CEO Turmoil Gives Democrats Fresh Ammunition for Oversight Article: Jensen Huang Affair Puts Nvidia’s Future at Risk

NVIDIA 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.