NVIDIA Corporation $NVDA Stock Sold by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC trimmed its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 0.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 465,254 shares of the computer hardware maker’s stock after selling 2,779 shares during the period. NVIDIA comprises approximately 6.9% of Steel Grove Capital Advisors LLC’s portfolio, making the stock its 4th largest holding. Steel Grove Capital Advisors LLC’s holdings in NVIDIA were worth $106,255,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Boyd Wealth Management LLC grew its stake in NVIDIA by 273.4% in the 2nd quarter. Boyd Wealth Management LLC now owns 9,145 shares of the computer hardware maker’s stock worth $1,830,000 after acquiring an additional 6,696 shares in the last quarter. Ally Financial Inc. raised its stake in shares of NVIDIA by 10.3% during the second quarter. Ally Financial Inc. now owns 172,000 shares of the computer hardware maker’s stock valued at $34,415,000 after acquiring an additional 16,000 shares in the last quarter. Altshuler Shaham Ltd raised its stake in shares of NVIDIA by 6,451.9% during the first quarter. Altshuler Shaham Ltd now owns 637,236 shares of the computer hardware maker’s stock valued at $111,134,000 after acquiring an additional 627,510 shares in the last quarter. Vanguard Capital Wealth Advisors raised its stake in shares of NVIDIA by 5.6% during the second quarter. Vanguard Capital Wealth Advisors now owns 52,163 shares of the computer hardware maker’s stock valued at $10,437,000 after acquiring an additional 2,758 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC boosted its holdings in shares of NVIDIA by 7.4% in the second quarter. Baker Tilly Wealth Management LLC now owns 71,898 shares of the computer hardware maker’s stock valued at $14,386,000 after purchasing an additional 4,958 shares during the period. 65.27% of the stock is owned by institutional investors.

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 34,918 shares of the stock in a transaction dated 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 transaction, the chief financial officer directly owned 765,103 shares of the company’s stock, valued at approximately $167,595,812.15. This represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Stevens sold 622,239 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $231.62, for a total value of $144,122,997.18. Following the completion of the transaction, the director directly 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,766,118 shares of company stock worth $399,450,353. 3.94% of the stock is currently owned by insiders.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $206.65 on Wednesday. The firm has a market capitalization of $4.98 trillion, a P/E ratio of 26.13, a PEG ratio of 1.55 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 company has a 50 day moving average price of $221.45 and a 200 day moving average price of $204.44. NVIDIA Corporation has a 52 week low of $164.27 and a 52 week high of $243.37.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $92.27 billion. During the same period in the previous year, the company earned $1.05 earnings per share. The business’s quarterly revenue was up 105.9% compared to the same quarter last year. Sell-side analysts expect that NVIDIA Corporation will post 9.30 EPS for the current year.

NVIDIA declared that its board has initiated a share repurchase program on Monday, September 28th that allows the company to repurchase $150 billion in shares. This buyback authorization allows the computer hardware maker to purchase up to 2.8% of its stock through open market purchases. Share buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. NVIDIA’s payout ratio is currently 12.64%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NVDA shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $350.00 price objective on shares of NVIDIA in a research note on Thursday, October 1st. Zacks Research raised NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 21st. Piper Sandler initiated coverage on NVIDIA in a report on Wednesday, September 9th. They issued an “overweight” rating and a $300.00 target price for the company. China Renaissance increased their price target on NVIDIA from $319.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, August 31st. Finally, Citigroup reissued a “buy” rating and set a $315.00 price target (up from $300.00) on shares of NVIDIA in a research report on Thursday, August 27th. Five analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA has an average rating of “Buy” and an average target price of $318.85.

Key Stories Impacting NVIDIA

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: The sector recovery helped NVIDIA rebound after four consecutive losing sessions. Some coverage also described the recent pullback as a potential buying opportunity, citing the company’s strong revenue growth and continued demand for AI chips. Nvidia stock up over 3%: what’s driving Tuesday’s rally?
• Positive Sentiment: NVIDIA’s proposed DSX POD modular design aims to shorten AI-factory deployment to 14 days. Faster installation could let customers put GPUs to work and generate returns sooner, potentially supporting infrastructure demand. Nvidia’s New 14-Day AI Deployment Goal Could Unlock Faster Growth
• Neutral Sentiment: Reports say NVIDIA is asking cloud and data-center partners to ensure at least 51% of services sales come from customers outside China, in response to U.S. export rules. The move may help partners comply, but the reports do not quantify the effect on NVIDIA’s sales. What Is Nvidia Asking Cloud Clients To Change Under New China Rules?
• Negative Sentiment: Broader worries about the AI trade remain a headwind: reports point to a substantial recent decline in AI-stock valuations and hedge funds reducing exposure. A warning that Chinese AI-chip competitors could expand overseas adds to uncertainty ahead of NVIDIA’s November 17 earnings report. AI Stocks Lose $5 Trillion in 3 Weeks as Hedge Funds Go Underweight AI

NVIDIA Company Profile

NVIDIA Corporation (NASDAQ: NVDA) is a technology company that designs graphics processing units (GPUs), accelerated computing platforms, networking products and related software. Its technologies support artificial intelligence, machine learning, scientific computing, data analytics, professional visualization and computer graphics.

The company’s products include GeForce GPUs for gaming and personal computing, data center GPUs and systems for AI and high-performance computing, and networking solutions used to connect and manage large-scale computing infrastructure.