Viking Fund Management LLC Sells 3,000 Shares of NVIDIA Corporation $NVDA

Viking Fund Management LLC reduced its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 8.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,000 shares of the computer hardware maker’s stock after selling 3,000 shares during the quarter. Viking Fund Management LLC’s holdings in NVIDIA were worth $7,308,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of NVDA. Montgomery Financial Services LLC bought a new position in NVIDIA during the 2nd quarter worth approximately $28,000. Newton One Investments LLC purchased a new position in NVIDIA in the 3rd quarter worth approximately $34,000. Phillip James Consulting Co. purchased a new position in NVIDIA in the 1st quarter worth approximately $40,000. Bard Associates Inc. lifted its position in NVIDIA by 8,866.7% in the second quarter. Bard Associates Inc. now owns 269 shares of the computer hardware maker’s stock valued at $54,000 after purchasing an additional 266 shares during the last quarter. Finally, Frankly Finances LLC bought a new stake in NVIDIA in the second quarter valued at approximately $60,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In related news, EVP Timothy S. 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 transaction, the executive vice president directly owned 2,687,660 shares of the company’s stock, valued at $598,810,648. This represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark A. 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 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 approximately $541,187,310.22. The trade was a 21.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,766,118 shares of company stock valued at $399,450,353. Company insiders own 3.94% of the company’s stock.

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

Shares of NVDA stock opened at $186.64 on Monday. The stock has a fifty day moving average of $219.80 and a 200 day moving average of $204.53. NVIDIA Corporation has a 52 week low of $164.27 and a 52 week high of $243.37. The firm has a market capitalization of $4.50 trillion, a price-to-earnings ratio of 23.60, a PEG ratio of 1.43 and a beta of 2.21. The company has a quick ratio of 3.85, a current ratio of 4.59 and a debt-to-equity ratio of 0.14.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.13. The business had revenue of $96.22 billion for the quarter, compared to analysts’ expectations of $92.27 billion. NVIDIA had a net margin of 63.66% and a return on equity of 96.04%. The firm’s revenue for the quarter was up 105.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.05 earnings per share. As a group, research analysts expect that NVIDIA Corporation will post 9.30 earnings per share for the current year.

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

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, September 10th. NVIDIA’s dividend payout ratio (DPR) is currently 12.64%.

Analyst Ratings Changes

A number of analysts have recently weighed in on NVDA shares. Citigroup reissued a “buy” rating and set a $315.00 price objective (up from $300.00) on shares of NVIDIA in a research note on Thursday, August 27th. Benchmark restated a “buy” rating and issued a $335.00 target price on shares of NVIDIA in a report on Thursday, August 27th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of NVIDIA in a research note on Wednesday, October 21st. Wall Street Zen lowered shares of NVIDIA from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of NVIDIA from $280.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. Five investment analysts have rated the stock with a Strong Buy rating, forty-eight have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, NVIDIA currently has an average rating of “Buy” and an average price target of $318.85.

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.