NVIDIA Corporation $NVDA Shares Newly Bought by Reliant Investment Management LLC

Reliant Investment Management LLC acquired a new stake in shares of NVIDIA Corporation (NASDAQ:NVDA) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 27,792 shares of the computer hardware maker’s stock, valued at approximately $6,347,000. NVIDIA accounts for approximately 2.2% of Reliant Investment Management LLC’s investment portfolio, making the stock its 21st largest position.

Several other large investors also recently made changes to their positions in the business. Myecfo LLC boosted its holdings in NVIDIA by 8.4% during the third quarter. Myecfo LLC now owns 4,139 shares of the computer hardware maker’s stock worth $945,000 after buying an additional 320 shares in the last quarter. Elemental Capital Partners LLC increased its holdings in shares of NVIDIA by 1.4% in the third quarter. Elemental Capital Partners LLC now owns 29,273 shares of the computer hardware maker’s stock valued at $6,685,000 after buying an additional 390 shares in the last quarter. Fortitude Family Office LLC increased its holdings in shares of NVIDIA by 73.4% in the third quarter. Fortitude Family Office LLC now owns 27,677 shares of the computer hardware maker’s stock valued at $6,321,000 after buying an additional 11,716 shares in the last quarter. Newton One Investments LLC acquired a new stake in shares of NVIDIA during the 3rd quarter valued at $34,000. Finally, Johnson Bixby & Associates LLC lifted its position in shares of NVIDIA by 82.0% during the 3rd quarter. Johnson Bixby & Associates LLC now owns 17,017 shares of the computer hardware maker’s stock valued at $3,886,000 after acquiring an additional 7,668 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Up 2.8%

Shares of NASDAQ:NVDA opened at $186.64 on Friday. 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 company has a market cap of $4.50 trillion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 1.43 and a beta of 2.21. NVIDIA Corporation has a 52 week low of $164.27 and a 52 week high of $243.37. The firm has a 50 day simple moving average of $219.80 and a 200 day simple moving average of $204.53.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $92.27 billion. During the same quarter last year, the business posted $1.05 EPS. The company’s revenue was up 105.9% on a year-over-year basis. As a group, research analysts expect that NVIDIA Corporation will post 9.30 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm 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. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, September 10th. NVIDIA’s payout ratio is presently 12.64%.

NVIDIA announced that its board has approved a stock repurchase program on Monday, September 28th that authorizes the company to repurchase $150 billion in shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 2.8% of its shares through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and set a $300.00 price objective on shares of NVIDIA in a research note on Wednesday, October 21st. Rothschild & Co Redburn boosted their target price on NVIDIA from $300.00 to $325.00 in a research report on Thursday, August 27th. DZ Bank reaffirmed a “buy” rating on shares of NVIDIA in a research report on Wednesday, August 26th. Weiss Ratings downgraded NVIDIA from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, November 2nd. Finally, Truist Financial increased their price target on NVIDIA from $307.00 to $346.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Five equities research analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $318.85.

NVIDIA News Summary

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

Insider Activity 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 stock was sold at an average price of $219.05, for a total transaction of $7,648,787.90. Following the completion of the sale, the chief financial officer directly owned 765,103 shares in the company, valued at approximately $167,595,812.15. This trade represents a 4.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark A. Stevens sold 622,239 shares of NVIDIA stock in a transaction dated 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 directly owned 2,336,531 shares in the company, valued at approximately $541,187,310.22. This trade represents a 21.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, 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.

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.