NVIDIA Corporation $NVDA Shares Sold by Cornerstone Enterprises LLC

Cornerstone Enterprises LLC lowered its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 41.0% during the 3rd quarter, Holdings Channel reports. The fund owned 34,050 shares of the computer hardware maker’s stock after selling 23,696 shares during the period. NVIDIA makes up approximately 4.7% of Cornerstone Enterprises LLC’s portfolio, making the stock its 6th largest holding. Cornerstone Enterprises LLC’s holdings in NVIDIA were worth $7,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in NVIDIA by 1.6% in 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 purchasing an additional 15,897,836 shares during the period. Bank of America Corp DE grew its position in NVIDIA by 2.2% in the 2nd quarter. Bank of America Corp DE now owns 195,366,864 shares of the computer hardware maker’s stock valued at $39,090,956,000 after buying an additional 4,165,875 shares in the last quarter. Amundi increased its stake in NVIDIA by 10.4% during the 1st quarter. Amundi now owns 133,768,018 shares of the computer hardware maker’s stock valued at $23,329,141,000 after buying an additional 12,575,177 shares during the period. Dimensional Fund Advisors LP increased its stake in NVIDIA by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 94,521,253 shares of the computer hardware maker’s stock valued at $16,479,126,000 after buying an additional 555,221 shares during the period. Finally, Deutsche Bank AG raised its position in shares of NVIDIA by 2.3% during the 2nd quarter. Deutsche Bank AG now owns 91,954,159 shares of the computer hardware maker’s stock worth $18,399,108,000 after buying an additional 2,045,101 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Key Stories Impacting NVIDIA

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NVDA shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $350.00 price objective on shares of NVIDIA in a report on Thursday, October 1st. Piper Sandler initiated coverage on NVIDIA in a report on Wednesday, September 9th. They set an “overweight” rating and a $300.00 target price on the stock. Aletheia Capital downgraded NVIDIA from a “buy” rating to a “hold” rating in a research report on Monday. Citigroup decreased their price target on NVIDIA from $315.00 to $285.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, BMO Capital Markets set a $340.00 price target on NVIDIA and gave the company an “outperform” rating in a research report on Thursday, August 20th. Five research analysts have rated the stock with a Strong Buy rating, forty-eight have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $318.75.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 34,918 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 765,103 shares in the company, valued at $167,595,812.15. This trade represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Timothy Teter sold 30,460 shares of the firm’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $222.80, for a total transaction of $6,786,488.00. Following the completion of the transaction, the executive vice president 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,766,118 shares of company stock valued at $399,450,353. 3.94% of the stock is currently owned by corporate insiders.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $168.93 on Wednesday. The stock’s fifty day simple moving average is $217.99 and its 200 day simple moving average is $204.42. The stock has a market capitalization of $4.07 trillion, a price-to-earnings ratio of 21.36, a PEG ratio of 1.37 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 Corporation has a 52-week low of $164.27 and a 52-week high of $243.37.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $92.27 billion. During the same period in the prior year, the business posted $1.05 earnings per share. NVIDIA’s revenue was up 105.9% compared to the same quarter last year. As a group, sell-side analysts forecast that NVIDIA Corporation will post 9.30 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed 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 payout ratio is presently 12.64%.

NVIDIA announced that its Board of Directors has initiated a stock repurchase plan on Monday, September 28th that permits the company to buy back $150 billion in shares. This buyback authorization permits the computer hardware maker to reacquire up to 2.8% of its stock through open market purchases. Share buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.