WealthPlan Investment Management LLC lifted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 273,587 shares of the computer hardware maker’s stock after acquiring an additional 11,103 shares during the period. NVIDIA accounts for about 2.9% of WealthPlan Investment Management LLC’s investment portfolio, making the stock its 3rd largest position. WealthPlan Investment Management LLC’s holdings in NVIDIA were worth $62,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of NVDA. Boyd Wealth Management LLC increased its holdings 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 valued at $1,830,000 after purchasing an additional 6,696 shares in the last quarter. Ally Financial Inc. lifted 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 worth $34,415,000 after purchasing an additional 16,000 shares in the last quarter. Altshuler Shaham Ltd lifted 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 worth $111,134,000 after purchasing an additional 627,510 shares in the last quarter. Vanguard Capital Wealth Advisors boosted its position in shares of NVIDIA by 5.6% in the second quarter. Vanguard Capital Wealth Advisors now owns 52,163 shares of the computer hardware maker’s stock worth $10,437,000 after buying an additional 2,758 shares during the period. Finally, Baker Tilly Wealth Management LLC boosted its position 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 worth $14,386,000 after buying an additional 4,958 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the company. Raymond James Financial set a $515.00 target price on NVIDIA and gave the company a “strong-buy” rating in a research note on Thursday, August 27th. Yorkville Ives assumed coverage on NVIDIA in a research report on Tuesday, October 6th. They set an “outperform” rating and a $300.00 price target on the stock. Evercore set a $465.00 price target on NVIDIA and gave the stock an “outperform” rating in a research report on Thursday, August 27th. Citigroup restated a “buy” rating and issued a $315.00 price target (up from $300.00) on shares of NVIDIA in a report on Thursday, August 27th. Finally, Truist Financial increased their price objective on shares of NVIDIA from $307.00 to $346.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Five investment analysts have rated the stock with a Strong Buy rating, forty-eight have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, NVIDIA has an average rating of “Buy” and a consensus target price of $318.85.
Check Out Our Latest Report on NVIDIA
More NVIDIA News
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
NASDAQ:NVDA opened at $186.64 on Monday. The firm has a 50-day moving average of $219.80 and a two-hundred day moving average of $204.53. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.59 and a quick ratio of 3.85. The stock has a market cap of $4.50 trillion, a P/E ratio of 23.60, a PEG ratio of 1.43 and a beta of 2.21. NVIDIA Corporation has a 1-year low of $164.27 and a 1-year high of $243.37.
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share (EPS) 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 period in the previous year, the company earned $1.05 earnings per share. The company’s revenue for the quarter 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 Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 10th were issued a $0.25 dividend. 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 dividend payout ratio is currently 12.64%.
NVIDIA announced that its board has initiated a stock repurchase plan on Monday, September 28th that authorizes the company to buy back $150 billion in shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 2.8% of its shares through open market purchases. Share repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
Insider Buying and Selling at NVIDIA
In other NVIDIA news, EVP Timothy Teter sold 30,460 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $222.80, for a total transaction of $6,786,488.00. Following the completion of the sale, the executive vice president owned 2,687,660 shares in the company, valued at $598,810,648. This trade represents a 1.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 NVIDIA stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $231.62, for a total value 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,766,118 shares of company stock worth $399,450,353 in the last 90 days. 3.94% of the stock is owned by corporate insiders.
About NVIDIA
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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