Detalus Advisors LLC Makes New Investment in NVIDIA Corporation $NVDA

Detalus Advisors LLC acquired a new stake in shares of NVIDIA Corporation (NASDAQ:NVDA) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 13,115 shares of the computer hardware maker’s stock, valued at approximately $2,995,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in NVDA. Jupiter Topco LLC purchased a new stake in NVIDIA in the 2nd quarter valued at $16,156,076,000. Van ECK Associates Corp boosted its holdings in NVIDIA by 34.7% during the 2nd 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 last quarter. State Street Corp boosted 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 last quarter. Amundi grew 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 worth $23,329,141,000 after acquiring an additional 12,575,177 shares in the last quarter. Finally, Nykredit A S bought a new stake in shares of NVIDIA in the 2nd quarter worth $2,315,956,000. 65.27% of the stock is owned by institutional investors.

Insider Activity at NVIDIA

In related news, Director Mark Stevens sold 622,239 shares of the company’s 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 transaction, the director owned 2,336,531 shares in the company, valued at approximately $541,187,310.22. This represents a 21.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 34,918 shares of the stock in a transaction on Thursday, September 17th. The shares were 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 trade represents a 4.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,766,118 shares of company stock worth $399,450,353. Insiders own 3.94% of the company’s stock.

NVIDIA News Roundup

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: NVIDIA, Rebellions and SK Telecom announced a collaboration to combine NVIDIA’s NVLink Fusion and infrastructure with Korean-designed AI processors, supporting the company’s effort to expand its platform and partnerships. Article: NVIDIA, Rebellions and SK Telecom collaboration
• Neutral Sentiment: Some analysts remain positive despite trimming targets: Citi lowered its target but kept a Buy rating, while Wells Fargo cut its target and maintained Overweight. Investors are also looking ahead to NVIDIA’s November 17 earnings report. Article: Nvidia Stock Falls as Citi Trims Price Target
• Negative Sentiment: The board has retained outside counsel for an independent investigation into reports that Huang was targeted by a foreign intelligence effort. FBI and congressional scrutiny raises risks of reputational damage, governance concerns and possible regulatory attention; investors are also focused on NVIDIA’s reliance on Huang and lack of a clear public succession plan. Article: Nvidia hires law firm to lead Jensen Huang probe
• Negative Sentiment: A report alleged that Huang’s relationship with Alice Huang helped facilitate at least $7.5 billion in chip shipments to Chinese firms, including companies reportedly subject to restrictions. The claims have not been established, and Reuters could not independently verify the report, but they intensify export-control and national-security concerns. Article: Why Nvidia Stock Just Fell Again
• Negative Sentiment: Shareholder securities class actions have been filed alleging investors were not adequately informed; the claims are allegations, not findings of wrongdoing. Separately, rising Treasury yields and a broader technology sell-off are weighing on growth-stock valuations. Article: NVIDIA securities class action notice

Analysts Set New Price Targets

Several brokerages have recently commented on NVDA. Citigroup lowered their target price on shares of NVIDIA from $315.00 to $285.00 and set a “buy” rating for the company in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 price objective on shares of NVIDIA in a research report on Wednesday, October 21st. Zacks Research raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 21st. TD Cowen reiterated a “buy” rating on shares of NVIDIA in a research note on Tuesday, August 18th. Finally, Mizuho set a $250.00 target price on shares of NVIDIA in a research report on Monday. Five analysts have rated the stock with a Strong Buy rating, forty-eight have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $318.75.

NVIDIA Stock Performance

Shares of NVDA stock opened at $168.93 on Wednesday. The firm has a market cap of $4.07 trillion, a price-to-earnings ratio of 25.89, a P/E/G ratio of 1.37 and a beta of 2.21. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.85 and a current ratio of 4.59. NVIDIA Corporation has a 52 week low of $164.27 and a 52 week high of $243.37. The firm’s 50-day simple moving average is $217.99 and its two-hundred day simple moving average is $204.42.

NVIDIA (NASDAQ:NVDA) last released its earnings results 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 analysts’ expectations of $92.27 billion. During the same period in the previous year, the company earned $1.05 earnings per share. The company’s quarterly revenue was up 105.9% on a year-over-year basis. As a group, equities analysts forecast that NVIDIA Corporation will post 9.30 earnings per share for the current year.

NVIDIA announced that its Board of Directors has authorized a stock repurchase program on Monday, September 28th that permits the company to repurchase $150 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to buy up to 2.8% of its stock through open market purchases. Share repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Dividend Announcement

The business 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, September 10th. NVIDIA’s payout ratio is 12.64%.

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.