NVIDIA Corporation $NVDA Stock Acquired by RKL Wealth Management LLC

RKL Wealth Management LLC increased its stake in NVIDIA Corporation (NASDAQ:NVDA) by 5.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 88,888 shares of the computer hardware maker’s stock after buying an additional 4,865 shares during the quarter. NVIDIA accounts for approximately 1.6% of RKL Wealth Management LLC’s portfolio, making the stock its 16th largest holding. RKL Wealth Management LLC’s holdings in NVIDIA were worth $20,300,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Retirement Wealth Solutions LLC raised its holdings in shares of NVIDIA by 1.2% in the 2nd quarter. Retirement Wealth Solutions LLC now owns 4,121 shares of the computer hardware maker’s stock worth $825,000 after purchasing an additional 47 shares during the period. LightSquare Wealth Management LLC lifted its stake in NVIDIA by 0.3% in the second quarter. LightSquare Wealth Management LLC now owns 18,695 shares of the computer hardware maker’s stock valued at $3,741,000 after purchasing an additional 49 shares during the last quarter. Defender Capital LLC. grew its holdings in NVIDIA by 0.7% during the second quarter. Defender Capital LLC. now owns 7,534 shares of the computer hardware maker’s stock valued at $1,507,000 after purchasing an additional 50 shares during the period. Kooman & Associates grew its holdings in NVIDIA by 0.6% during the second quarter. Kooman & Associates now owns 8,464 shares of the computer hardware maker’s stock valued at $1,694,000 after purchasing an additional 50 shares during the period. Finally, Roof Eidam Maycock Peralta LLC grew its holdings in NVIDIA by 0.3% during the second quarter. Roof Eidam Maycock Peralta LLC now owns 18,827 shares of the computer hardware maker’s stock valued at $3,767,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NVDA opened at $166.19 on Friday. The firm’s 50-day moving average price is $215.96 and its 200-day moving average price is $204.25. The company has a market cap of $4.01 trillion, a P/E ratio of 21.01, a price-to-earnings-growth ratio of 1.34 and a beta of 2.21. NVIDIA Corporation has a 52-week low of $148.80 and a 52-week high of $243.37. 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 announced its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.13. NVIDIA had a net margin of 63.66% and a return on equity of 96.04%. The firm had revenue of $96.22 billion for the quarter, compared to analyst estimates of $92.27 billion. During the same period in the previous year, the company earned $1.05 earnings per share. The business’s quarterly revenue was up 105.9% compared to the same quarter last year. As a group, equities analysts anticipate that NVIDIA Corporation will post 9.29 EPS for the current fiscal year.

NVIDIA declared that its Board of Directors has authorized a stock buyback plan on Monday, September 28th that allows the company to repurchase $150 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, September 10th. NVIDIA’s dividend payout ratio is 12.64%.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 34,918 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The stock was 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 position. The transaction was disclosed in a document filed 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 A. Stevens sold 622,239 shares of the stock in a transaction on 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 sale, the director directly owned 2,336,531 shares in the company, valued at $541,187,310.22. This trade represents a 21.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have 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’s some of the latest news about NVDA:

• Positive Sentiment: Some investors see the selloff as an opportunity: retail traders reportedly bought about $111 million of NVDA in the first 30 minutes of trading. Bullish commentary points to NVIDIA’s established AI business and continuing infrastructure demand. Article: Huang Exit Fuels Nvidia Bulls
• Neutral Sentiment: Kress’s experience as CFO and the board’s assurance that customer commitments and the product roadmap will continue provide some operational continuity, though she is serving only on an interim basis. NVIDIA’s fiscal Q3 report on Nov. 17 is the next key test for demand, guidance and confidence in the transition. Article: Colette Kress named interim CEO
• Negative Sentiment: Several analysts downgraded the stock or cut price targets, citing leadership, governance and China-related risks. A securities class action adds another source of uncertainty for shareholders. Article: Nvidia Stock Just Got Downgraded

Analysts Set New Price Targets

A number of research analysts have recently commented on NVDA shares. Sanford C. Bernstein set a $200.00 price target on NVIDIA and gave the company a “market perform” rating in a research report on Thursday. Bank of America decreased their price objective on NVIDIA from $350.00 to $280.00 and set a “buy” rating for the company in a report on Thursday. Evercore cut NVIDIA from an “outperform” rating to a “positive” rating and set a $186.00 price objective on the stock. in a research note on Wednesday. Wells Fargo & Company dropped their price objective on shares of NVIDIA from $315.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Raymond James Financial raised shares of NVIDIA from an “outperform” rating to a “strong-buy” rating in a report on Wednesday. Five research analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $283.63.

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.