NVIDIA Corporation $NVDA Stock: Selective Wealth Management Inc. Grows Position

Selective Wealth Management Inc. boosted its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 36.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,679 shares of the computer hardware maker’s stock after buying an additional 5,220 shares during the period. NVIDIA accounts for approximately 1.0% of Selective Wealth Management Inc.’s holdings, making the stock its 20th largest holding. Selective Wealth Management Inc.’s holdings in NVIDIA were worth $4,275,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in NVDA. State Street Corp boosted its position 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 during the last quarter. Bank of America Corp DE grew its holdings in NVIDIA by 2.2% in the second 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 purchasing an additional 4,165,875 shares during the period. Amundi grew its holdings in NVIDIA by 10.4% in the first quarter. Amundi now owns 133,768,018 shares of the computer hardware maker’s stock valued at $23,329,141,000 after purchasing an additional 12,575,177 shares during the period. Dimensional Fund Advisors LP increased its position in NVIDIA by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 94,521,253 shares of the computer hardware maker’s stock worth $16,479,126,000 after purchasing an additional 555,221 shares during the last quarter. Finally, Deutsche Bank AG increased its position in NVIDIA by 2.3% during the second quarter. Deutsche Bank AG now owns 91,954,159 shares of the computer hardware maker’s stock worth $18,399,108,000 after purchasing an additional 2,045,101 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Top NVIDIA Stories

Here are a few of the latest stories about NVDA:

• Neutral Sentiment: Analyst views remain divided: Baird cut its rating to Neutral and sharply lowered its target, while Morgan Stanley retained an Overweight rating and a $300 target. Article: Analysts disagree on Nvidia
• Negative Sentiment: The New York Times reported a second alleged relationship involving Huang and a direct report; the Wall Street Journal separately reported that NVIDIA’s board is preparing to oust him. The reports raise leadership, governance, and succession concerns for a company closely associated with its longtime CEO. Article: Report on Huang’s future at Nvidia
• Negative Sentiment: Allegations around Huang’s ties to a woman suspected of Chinese intelligence links have widened into national-security and export-control concerns. Congressional scrutiny and reports of restricted chips reaching Chinese buyers could invite tighter rules and legal or reputational fallout; the claims remain under investigation. Article: Nvidia controversy revives chip-export debate

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $173.73 on Thursday. The business’s 50-day simple moving average is $217.12 and its 200 day simple moving average is $204.35. The company has a market cap of $4.19 trillion, a P/E ratio of 21.96, a PEG ratio of 1.30 and a beta of 2.21. 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 one year low of $164.27 and a one year high of $243.37.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.13. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. The firm had revenue of $96.22 billion during the quarter, compared to analysts’ expectations of $92.27 billion. During the same quarter in the prior year, the business earned $1.05 EPS. NVIDIA’s quarterly revenue was up 105.9% compared to the same quarter last year. On average, sell-side analysts forecast that NVIDIA Corporation will post 9.30 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NVDA. HSBC increased their price target on shares of NVIDIA from $360.00 to $365.00 in a research note on Thursday, August 27th. BNP Paribas Exane reissued an “outperform” rating and set a $345.00 price objective on shares of NVIDIA in a research note on Monday, October 5th. Zacks Research raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 21st. Citigroup dropped their price objective on NVIDIA from $315.00 to $285.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Evercore lowered NVIDIA from an “outperform” rating to a “positive” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $314.24.

Insider Activity

In related news, CFO Colette Kress sold 34,918 shares of NVIDIA stock in a transaction on 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 sale, the chief financial officer owned 765,103 shares of the company’s stock, valued at $167,595,812.15. The trade was a 4.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Timothy S. Teter sold 30,460 shares of the business’s stock in a transaction on 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 in the company, valued at $598,810,648. This represents a 1.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,766,118 shares of company stock worth $399,450,353. 3.94% of the stock is currently owned by company insiders.

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.