NVIDIA Corporation $NVDA Stock Holdings Lowered by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its position in NVIDIA Corporation (NASDAQ:NVDA) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,651,090 shares of the computer hardware maker’s stock after selling 71,070 shares during the quarter. NVIDIA accounts for 5.7% of State of Alaska Department of Revenue’s holdings, making the stock its largest holding. State of Alaska Department of Revenue’s holdings in NVIDIA were worth $605,455,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of NVDA. TT Capital Management LLC acquired a new stake in NVIDIA in the third quarter valued at $245,000. Charles Schwab Trust Co boosted its holdings in NVIDIA by 4,720.5% in the third quarter. Charles Schwab Trust Co now owns 135,793 shares of the computer hardware maker’s stock valued at $31,012,000 after acquiring an additional 132,976 shares during the last quarter. Gunderson Capital Management LLC acquired a new stake in shares of NVIDIA during the third quarter worth $19,160,000. Formuepleje A S grew its holdings in NVIDIA by 10.3% during the 3rd quarter. Formuepleje A S now owns 508,536 shares of the computer hardware maker’s stock worth $116,139,000 after acquiring an additional 47,598 shares during the period. Finally, Turtle Creek Wealth Advisors LLC grew its stake in NVIDIA by 5.2% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 335,027 shares of the computer hardware maker’s stock worth $76,514,000 after purchasing an additional 16,549 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Mark Stevens sold 622,239 shares of the firm’s stock in a transaction 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 completion of the transaction, the director directly owned 2,336,531 shares of the company’s stock, valued at $541,187,310.22. This trade represents a 21.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy Teter sold 30,460 shares of NVIDIA 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 directly owned 2,687,660 shares of the company’s stock, valued at $598,810,648. The trade was a 1.12% 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 a total of 1,766,118 shares of company stock worth $399,450,353 over the last 90 days. Corporate insiders own 3.94% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $178.67 on Tuesday. The company has a current ratio of 4.59, a quick ratio of 3.85 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $219.03 and a two-hundred day simple moving average of $204.50. NVIDIA Corporation has a 1-year low of $164.27 and a 1-year high of $243.37. The firm has a market cap of $4.31 trillion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 1.54 and a beta of 2.21.

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, topping the consensus estimate of $2.09 by $0.13. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. The company had revenue of $96.22 billion during the quarter, compared to analyst estimates of $92.27 billion. During the same quarter last year, the firm posted $1.05 EPS. The firm’s revenue for the quarter was up 105.9% on a year-over-year basis. Analysts anticipate that NVIDIA Corporation will post 9.30 earnings per share for the current year.

NVIDIA announced that its Board of Directors has initiated a share buyback plan on Monday, September 28th that allows the company to repurchase $150 billion in outstanding shares. This buyback authorization allows the computer hardware maker to buy up to 2.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

NVIDIA Announces Dividend

The business also recently announced 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 was Thursday, September 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. NVIDIA’s dividend payout ratio is currently 12.64%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NVDA. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $300.00 target price on shares of NVIDIA in a research report on Monday. HSBC lifted their price objective on shares of NVIDIA from $360.00 to $365.00 in a report on Thursday, August 27th. JPMorgan Chase & Co. increased their target price on shares of NVIDIA from $280.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. Weiss Ratings lowered shares of NVIDIA from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, November 2nd. Finally, Evercore set a $465.00 price objective on shares of NVIDIA and gave the company an “outperform” rating in a research note on Thursday, August 27th. Five research analysts have rated the stock with a Strong Buy rating, forty-eight have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $317.57.

Trending Headlines about 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 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.