NVIDIA Corporation $NVDA Shares Bought by Prairie Advisory LLC

Prairie Advisory LLC raised its position in NVIDIA Corporation (NASDAQ:NVDA) by 92.6% during the third quarter, Holdings Channel reports. The firm owned 23,634 shares of the computer hardware maker’s stock after buying an additional 11,364 shares during the quarter. NVIDIA comprises 0.6% of Prairie Advisory LLC’s portfolio, making the stock its 29th largest holding. Prairie Advisory LLC’s holdings in NVIDIA were worth $5,398,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp grew its stake in shares of 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 acquiring an additional 15,897,836 shares in the last quarter. Bank of America Corp DE increased its stake in shares of NVIDIA by 2.2% during the second quarter. Bank of America Corp DE now owns 195,366,864 shares of the computer hardware maker’s stock worth $39,090,956,000 after buying an additional 4,165,875 shares during the period. Amundi increased its stake in shares of NVIDIA by 10.4% during the first quarter. Amundi now owns 133,768,018 shares of the computer hardware maker’s stock worth $23,329,141,000 after buying an additional 12,575,177 shares during the period. Dimensional Fund Advisors LP raised its holdings in NVIDIA by 0.6% in the first 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 acquiring an additional 555,221 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in NVIDIA by 2.3% in the second quarter. Deutsche Bank AG now owns 91,954,159 shares of the computer hardware maker’s stock valued at $18,399,108,000 after acquiring an additional 2,045,101 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Performance

NVDA traded down $3.34 during trading on Friday, reaching $162.85. The company’s stock had a trading volume of 363,372,273 shares, compared to its average volume of 196,617,360. 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 Corporation has a 52-week low of $148.80 and a 52-week high of $243.37. The company has a market capitalization of $3.92 trillion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 1.28 and a beta of 2.21. The company’s fifty day moving average price is $214.64 and its 200-day moving average price is $204.12.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.13. The company had revenue of $96.22 billion for the quarter, compared to analyst estimates 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 period in the prior year, the business posted $1.05 earnings per share. On average, equities analysts forecast that NVIDIA Corporation will post 9.29 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 10th were issued 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 yield of 0.6%. NVIDIA’s payout ratio is currently 12.64%.

NVIDIA declared 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 outstanding shares. This buyback authorization permits the computer hardware maker to purchase up to 2.8% of its shares through open market purchases. Share buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of recent analyst reports. Mizuho set a $250.00 price target on NVIDIA in a report on Monday, November 9th. Daiwa Securities Group decreased their price objective on shares of NVIDIA from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Thursday, September 17th. Bank of America dropped their price objective on NVIDIA from $350.00 to $280.00 and set a “buy” rating on the stock in a report on Thursday. Zacks Research raised NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Monday, September 21st. Finally, Melius Research cut shares of NVIDIA from a “buy” rating to a “hold” rating and cut their target price for the company from $315.00 to $185.00 in a report on Thursday. Five investment analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $277.89.

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
• Negative Sentiment: Huang’s departure creates uncertainty around succession and strategy. CFO Colette Kress is interim CEO, and the board has not yet selected a search firm for a permanent replacement. CEO search update
• Negative Sentiment: Reports connecting the leadership scandal to scrutiny of possible chip diversions to China have raised risks of regulatory action and reputational damage. The allegations remain under investigation, while U.S. lawmakers are seeking testimony. Congressional scrutiny

Insider Transactions at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 34,918 shares of NVIDIA stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $219.05, for a total transaction of $7,648,787.90. Following the completion of the transaction, the chief financial officer owned 765,103 shares in the company, valued at approximately $167,595,812.15. The trade was a 4.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Stevens sold 622,239 shares of the company’s stock in a transaction 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 completion of the sale, the director owned 2,336,531 shares in the company, valued at $541,187,310.22. This represents a 21.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,766,118 shares of company stock valued at $399,450,353 in the last 90 days. 3.94% of the stock is currently owned by insiders.

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.