NVIDIA Corporation $NVDA Shares Bought by New England Research & Management Inc.

New England Research & Management Inc. lifted its position in NVIDIA Corporation (NASDAQ:NVDA) by 78.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,637 shares of the computer hardware maker’s stock after acquiring an additional 7,310 shares during the period. NVIDIA comprises approximately 1.5% of New England Research & Management Inc.’s holdings, making the stock its 19th largest position. New England Research & Management Inc.’s holdings in NVIDIA were worth $3,800,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Intergy Private Wealth LLC raised its position in NVIDIA by 3.6% during the third quarter. Intergy Private Wealth LLC now owns 13,005 shares of the computer hardware maker’s stock valued at $2,970,000 after buying an additional 448 shares during the period. Berman McAleer LLC lifted its stake in NVIDIA by 6.1% in the 3rd quarter. Berman McAleer LLC now owns 10,387 shares of the computer hardware maker’s stock worth $2,372,000 after acquiring an additional 600 shares in the last quarter. Avail Investment Partners LLC boosted its position in NVIDIA by 0.7% during the 3rd quarter. Avail Investment Partners LLC now owns 37,122 shares of the computer hardware maker’s stock worth $8,478,000 after acquiring an additional 250 shares during the period. RKL Wealth Management LLC boosted its position in NVIDIA by 5.8% during the 3rd quarter. RKL Wealth Management LLC now owns 88,888 shares of the computer hardware maker’s stock worth $20,300,000 after acquiring an additional 4,865 shares during the period. Finally, Carroll Advisory Group LLC boosted its position in NVIDIA by 1.6% during the 3rd quarter. Carroll Advisory Group LLC now owns 66,358 shares of the computer hardware maker’s stock worth $15,155,000 after acquiring an additional 1,065 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

Shares of NVDA opened at $166.19 on Friday. The firm has a market cap of $4.01 trillion, a PE ratio of 21.01, a PEG ratio of 1.34 and a beta of 2.21. 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 debt-to-equity ratio of 0.14, a quick ratio of 3.85 and a current ratio of 4.59. NVIDIA Corporation has a twelve month low of $148.80 and a twelve month high of $243.37.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.13. The firm had revenue of $96.22 billion during the quarter, compared to analysts’ expectations of $92.27 billion. NVIDIA had a net margin of 63.66% and a return on equity of 96.04%. The company’s revenue was up 105.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 earnings per share. As a group, research analysts expect that NVIDIA Corporation will post 9.29 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

NVIDIA declared that its Board of Directors has approved a share buyback plan on Monday, September 28th that authorizes the company to buy back $150 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 2.8% of its stock through open market purchases. Share buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

NVDA has been the topic of a number of research reports. Benchmark reiterated a “buy” rating and issued a $335.00 target price on shares of NVIDIA in a report on Thursday, August 27th. DA Davidson lowered their price objective on shares of NVIDIA from $300.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday. BMO Capital Markets lowered their price objective on shares of NVIDIA from $340.00 to $240.00 and set an “outperform” rating on the stock in a research report on Thursday. Raymond James Financial upgraded shares of NVIDIA from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday. Finally, New Street Research reiterated a “buy” rating on shares of NVIDIA in a research report on Thursday. Five analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $283.63.

Key Headlines Impacting NVIDIA

These are some of the NVDA headlines that stood out recently:

• 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

Insider Activity

In related news, EVP Timothy Teter sold 30,460 shares of NVIDIA stock in a transaction on Monday, September 21st. The shares were sold at an average price of $222.80, for a total value of $6,786,488.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 completion of the sale, the chief financial officer owned 765,103 shares of the company’s stock, valued at $167,595,812.15. This represents a 4.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,766,118 shares of company stock worth $399,450,353. 3.94% of the stock is owned by corporate insiders.

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.