4,555 NVIDIA Corporation $NVDA Shares Purchased by OceanIQ Capital LLC

OceanIQ Capital LLC grew its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 2.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 237,830 shares of the computer hardware maker’s stock after purchasing an additional 4,555 shares during the quarter. NVIDIA comprises approximately 27.5% of OceanIQ Capital LLC’s holdings, making the stock its largest position. OceanIQ Capital LLC’s holdings in NVIDIA were worth $54,349,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Jupiter Topco LLC bought a new position in NVIDIA in the second quarter valued at about $16,156,076,000. Van ECK Associates Corp raised its stake in NVIDIA by 34.7% during the second 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 in the last quarter. State Street Corp raised its stake in NVIDIA by 1.6% during the second 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 in the last quarter. Amundi lifted its holdings in shares of NVIDIA by 10.4% in the first 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 during the last quarter. Finally, Nykredit A S bought a new position in shares of NVIDIA in the second quarter worth about $2,315,956,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. StoneX set a $335.00 price target on shares of NVIDIA in a research note on Thursday. DA Davidson lowered their price objective on shares of NVIDIA from $300.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday. Benchmark reissued a “buy” rating and issued a $335.00 price objective on shares of NVIDIA in a research note on Thursday, August 27th. BNP Paribas Exane restated an “outperform” rating and issued a $345.00 target price on shares of NVIDIA in a research report on Monday, October 5th. Finally, Wall Street Zen lowered shares of NVIDIA from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 24th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.89.

Insider Buying and Selling at NVIDIA

In other news, Director Mark Stevens sold 622,239 shares of the stock in a transaction dated 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 sale, the director owned 2,336,531 shares of the company’s stock, valued at approximately $541,187,310.22. This represents a 21.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Timothy Teter sold 30,460 shares of the 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 completion of the sale, the executive vice president directly owned 2,687,660 shares of the company’s stock, valued at approximately $598,810,648. The trade was a 1.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In 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 Trading Down 2.0%

Shares of NASDAQ:NVDA traded down $3.34 during midday trading on Friday, hitting $162.85. 363,372,273 shares of the stock were exchanged, compared to its average volume of 196,617,360. The business’s 50-day moving average price is $214.64 and its 200 day moving average price is $204.12. NVIDIA Corporation has a 12 month low of $148.80 and a 12 month high of $243.37. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.85 and a current ratio of 4.59. The stock has a market capitalization of $3.92 trillion, a price-to-earnings ratio of 20.59, a P/E/G ratio of 1.28 and a beta of 2.21.

NVIDIA (NASDAQ:NVDA) last posted 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. 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 in the prior year, the business posted $1.05 earnings per share. Analysts predict that NVIDIA Corporation will post 9.29 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were given 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 was Thursday, September 10th. NVIDIA’s payout ratio is 12.64%.

NVIDIA declared that its board has initiated a stock repurchase program on Monday, September 28th that permits the company to repurchase $150 billion in outstanding shares. This buyback authorization permits the computer hardware maker to buy up to 2.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Trending Headlines about NVIDIA

Investors following NVDA have been watching these headlines:

• Positive Sentiment: Despite cutting its price target to $300, Rosenblatt Securities maintained a Buy rating; other coverage also points to continued investor optimism about NVIDIA’s long-term growth potential. Rosenblatt Securities rating
• Positive Sentiment: Investors will look to the November 17 earnings report for evidence that AI demand remains robust. Articles cite strong infrastructure spending and a $108 billion revenue outlook as potential supports for the business. NVIDIA earnings preview
• Negative Sentiment: HSBC downgraded NVIDIA to Hold with a $170 target, and several firms have reduced price targets. Analysts also warn that leadership uncertainty could give chip rivals more opportunity to win business. HSBC downgrade coverage

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.