PFG Private Wealth Management LLC Acquires New Position in NVIDIA Corporation $NVDA

PFG Private Wealth Management LLC acquired a new position in NVIDIA Corporation (NASDAQ:NVDA) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 4,246 shares of the computer hardware maker’s stock, valued at approximately $970,000. NVIDIA comprises approximately 0.4% of PFG Private Wealth Management LLC’s investment portfolio, making the stock its 21st largest holding.

Other large investors have also recently added to or reduced their stakes in the company. Summit Financial Wealth Advisors LLC grew its position in NVIDIA by 5.8% during the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 19,465 shares of the computer hardware maker’s stock worth $4,445,000 after purchasing an additional 1,074 shares in the last quarter. TT Capital Management LLC purchased a new stake in shares of NVIDIA in the third quarter valued at $245,000. Charles Schwab Trust Co lifted its holdings in shares of NVIDIA by 4,720.5% in the third quarter. Charles Schwab Trust Co now owns 135,793 shares of the computer hardware maker’s stock valued at $31,012,000 after purchasing an additional 132,976 shares in the last quarter. Gunderson Capital Management LLC acquired a new stake in shares of NVIDIA in the third quarter worth $19,160,000. Finally, Formuepleje A S boosted its position in shares of NVIDIA by 10.3% in the third quarter. Formuepleje A S now owns 508,536 shares of the computer hardware maker’s stock worth $116,139,000 after buying an additional 47,598 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NVDA shares. BNP Paribas Exane reissued an “outperform” rating and set a $345.00 price target on shares of NVIDIA in a research report on Monday, October 5th. Melius Research reduced their price objective on NVIDIA from $420.00 to $315.00 and set a “buy” rating for the company in a research note on Monday, November 2nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of NVIDIA in a research report on Monday, August 31st. Aletheia Capital cut NVIDIA from a “buy” rating to a “hold” rating in a research note on Monday. Finally, KeyCorp reiterated an “overweight” rating and issued a $330.00 target price on shares of NVIDIA in a report on Monday, August 24th. Five analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Buy” and a consensus price target of $317.57.

NVIDIA News Roundup

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: NVIDIA’s underlying business remains strong: its latest reported quarter beat estimates, with revenue up 105.9% year over year. That growth may help support the stock if the controversy does not disrupt operations. Article: Jensen Huang Might Be the Biggest Wild Card for Nvidia Stock
• Positive Sentiment: The company also announced a South Korean AI-infrastructure collaboration with Rebellions and SK Telecom, extending use of NVIDIA’s NVLink platform. Article: NVIDIA, Rebellions and SK Telecom Announce Collaboration
• Neutral Sentiment: NVIDIA’s board has begun an independent investigation into reports that Huang was targeted by a foreign intelligence effort. The board said it has no reason to believe company secrets or national security were compromised; Huang says he is cooperating. The outcome remains uncertain. Article: Statement from NVIDIA Board of Directors
• Negative Sentiment: The investigation follows Huang’s admission of an affair with Alice Huang, a former executive at a company that buys NVIDIA chips, who U.S. intelligence reportedly suspects of links to Chinese intelligence. Investors are concerned about potential exposure of sensitive information, reputational damage, and complications for NVIDIA’s China business. Article: Nvidia Shares Slump on Spy Probe
• Negative Sentiment: Shareholder litigation and possible congressional scrutiny add legal and regulatory risks. Questions about Huang’s future also weigh on sentiment, as reports say NVIDIA has no clear public succession plan for its founder and long-serving CEO. Article: Nvidia’s CEO Turmoil Gives Democrats Fresh Ammunition for Oversight Article: Jensen Huang Affair Puts Nvidia’s Future at Risk

Insider Buying and Selling at NVIDIA

In other news, Director Mark Stevens sold 622,239 shares of NVIDIA stock in a transaction that occurred on Friday, September 4th. The shares were 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 of the company’s stock, valued at $541,187,310.22. This trade represents a 21.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 34,918 shares of the company’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $219.05, for a total transaction of $7,648,787.90. Following the sale, the chief financial officer directly owned 765,103 shares of the company’s stock, 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 have sold a total of 1,766,118 shares of company stock worth $399,450,353 over the last 90 days. Insiders own 3.94% of the company’s stock.

NVIDIA Stock Performance

NVDA opened at $178.67 on Tuesday. The company has a market cap of $4.31 trillion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 1.54 and a beta of 2.21. The stock has a 50-day moving average of $219.03 and a 200-day moving average of $204.50. NVIDIA Corporation has a 52-week low of $164.27 and a 52-week 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.

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

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date was Thursday, September 10th. NVIDIA’s dividend payout ratio (DPR) is 12.64%.

NVIDIA announced that its Board of Directors has initiated a stock buyback 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 buy up to 2.8% of its shares through open market purchases. Share repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.