NVIDIA Corporation $NVDA Shares Bought by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC lifted its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 5.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 335,027 shares of the computer hardware maker’s stock after acquiring an additional 16,549 shares during the period. NVIDIA accounts for about 3.9% of Turtle Creek Wealth Advisors LLC’s portfolio, making the stock its 3rd biggest position. Turtle Creek Wealth Advisors LLC’s holdings in NVIDIA were worth $76,514,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp grew its holdings in NVIDIA by 1.6% during the 2nd 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. Bank of America Corp DE raised its position in shares of NVIDIA by 2.2% during the 2nd quarter. Bank of America Corp DE now owns 195,366,864 shares of the computer hardware maker’s stock valued at $39,090,956,000 after acquiring an additional 4,165,875 shares during the last quarter. Amundi lifted its stake in shares of NVIDIA by 10.4% in the 1st quarter. Amundi now owns 133,768,018 shares of the computer hardware maker’s stock valued at $23,329,141,000 after purchasing an additional 12,575,177 shares during the period. Deutsche Bank AG lifted its stake in shares of NVIDIA by 2.3% in the 2nd quarter. Deutsche Bank AG now owns 91,954,159 shares of the computer hardware maker’s stock valued at $18,399,108,000 after purchasing an additional 2,045,101 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of NVIDIA by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 94,521,253 shares of the computer hardware maker’s stock valued at $16,479,126,000 after purchasing an additional 555,221 shares during the period. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $186.64 on Monday. The firm has a market cap of $4.50 trillion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 1.43 and a beta of 2.21. The stock’s 50-day moving average is $219.80 and its 200-day moving average is $204.53. NVIDIA Corporation has a one year low of $164.27 and a one year high of $243.37. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.59 and a quick ratio of 3.85.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data 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. The business had revenue of $96.22 billion during the quarter, compared to the consensus estimate of $92.27 billion. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. NVIDIA’s quarterly revenue was up 105.9% on a year-over-year basis. During the same period last year, the company earned $1.05 earnings per share. Equities analysts predict that NVIDIA Corporation will post 9.30 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has initiated a stock repurchase plan on Monday, September 28th that allows the company to buy back $150 billion in shares. This repurchase authorization allows the computer hardware maker to purchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is 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 dividend payout ratio is 12.64%.

Insiders Place Their Bets

In other news, Director Mark Stevens sold 622,239 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $231.62, for a total transaction 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 34,918 shares of NVIDIA stock in a transaction that occurred on 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 completion of the sale, the chief financial officer owned 765,103 shares in the company, valued at $167,595,812.15. This trade represents a 4.36% decrease in their ownership of the stock. 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 sold a total of 1,766,118 shares of company stock valued at $399,450,353 in the last quarter. 3.94% of the stock is currently owned by insiders.

Key Stories Impacting NVIDIA

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

Analysts Set New Price Targets

A number of brokerages recently commented on NVDA. UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a research note on Friday, October 9th. BNP Paribas Exane reiterated an “outperform” rating and issued a $345.00 price objective on shares of NVIDIA in a report on Monday, October 5th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of NVIDIA in a research note on Monday, August 31st. Yorkville Ives initiated coverage on NVIDIA in a report on Tuesday, October 6th. They set an “outperform” rating and a $300.00 target price on the stock. Finally, President Capital boosted their target price on NVIDIA from $295.00 to $330.00 in a research report on Thursday, August 27th. Five equities research 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 stock. According to MarketBeat, NVIDIA currently has an average rating of “Buy” and a consensus target price of $318.85.

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.