NVIDIA Corporation $NVDA Shares Sold by Viking Fund Management LLC

Viking Fund Management LLC lessened its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 8.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,000 shares of the computer hardware maker’s stock after selling 3,000 shares during the period. Viking Fund Management LLC’s holdings in NVIDIA were worth $7,308,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of NVDA. Montgomery Financial Services LLC purchased a new position in NVIDIA during the 2nd quarter valued at about $28,000. Langley Wealth Management LLC purchased a new stake in NVIDIA in the second quarter worth about $34,000. Newton One Investments LLC purchased a new stake in NVIDIA in the third quarter worth about $34,000. Phillip James Consulting Co. purchased a new stake in NVIDIA in the first quarter worth about $40,000. Finally, Bard Associates Inc. increased its stake in shares of NVIDIA by 8,866.7% during 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 in the last quarter. Institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the subject of several recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $350.00 target price on shares of NVIDIA in a report on Thursday, October 1st. Wall Street Zen cut NVIDIA from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 24th. BNP Paribas Exane restated an “outperform” rating and issued a $345.00 price target on shares of NVIDIA in a research note on Monday, October 5th. HSBC raised their price objective on NVIDIA from $360.00 to $365.00 in a research report on Thursday, August 27th. Finally, Zacks Research upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 21st. Five analysts have rated the stock with a Strong Buy rating, forty-eight have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Buy” and a consensus target price of $318.85.

NVIDIA Price Performance

NASDAQ:NVDA opened at $186.64 on Monday. 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 firm has a market cap of $4.50 trillion, a P/E ratio of 23.60, a P/E/G ratio of 1.43 and a beta of 2.21. NVIDIA Corporation has a fifty-two week low of $164.27 and a fifty-two week high of $243.37. The firm has a 50-day simple moving average of $219.80 and a two-hundred day simple moving average of $204.53.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.13. The firm had revenue of $96.22 billion for the quarter, compared to the consensus estimate of $92.27 billion. NVIDIA had a net margin of 63.66% and a return on equity of 96.04%. The business’s revenue was up 105.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.05 earnings per share. Analysts predict that NVIDIA Corporation will post 9.30 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors 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 annualized dividend and a dividend yield of 0.5%. NVIDIA’s dividend payout ratio (DPR) is 12.64%.

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

Insider Activity at NVIDIA

In related news, Director Mark A. 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 directly 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 sale, the chief financial officer owned 765,103 shares in the company, valued at approximately $167,595,812.15. This 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 1,766,118 shares of company stock valued at $399,450,353 over the last 90 days. Corporate insiders own 3.94% of the company’s stock.

NVIDIA News Roundup

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 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.