PFG Private Wealth Management LLC Acquires New Stake in NVIDIA Corporation $NVDA

PFG Private Wealth Management LLC bought a new position in shares of NVIDIA Corporation (NASDAQ:NVDA) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,246 shares of the computer hardware maker’s stock, valued at approximately $970,000. NVIDIA accounts for about 0.4% of PFG Private Wealth Management LLC’s portfolio, making the stock its 21st biggest holding.

Several other large investors have also recently bought and sold shares of the stock. Summit Financial Wealth Advisors LLC boosted its holdings in NVIDIA by 5.8% in the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 19,465 shares of the computer hardware maker’s stock valued at $4,445,000 after purchasing an additional 1,074 shares during the period. TT Capital Management LLC acquired a new stake in NVIDIA in the 3rd quarter worth $245,000. Charles Schwab Trust Co increased its holdings in shares of NVIDIA by 4,720.5% during the 3rd quarter. Charles Schwab Trust Co now owns 135,793 shares of the computer hardware maker’s stock worth $31,012,000 after purchasing an additional 132,976 shares during the period. Gunderson Capital Management LLC bought a new position in shares of NVIDIA during the 3rd quarter worth about $19,160,000. Finally, Formuepleje A S lifted its stake in shares of NVIDIA by 10.3% in the third quarter. Formuepleje A S now owns 508,536 shares of the computer hardware maker’s stock valued at $116,139,000 after buying an additional 47,598 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Down 4.3%

NVDA stock opened at $178.67 on Tuesday. The business has a fifty day moving average price of $219.03 and a 200 day moving average price of $204.50. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.59 and a quick ratio of 3.85. NVIDIA Corporation has a fifty-two week low of $164.27 and a fifty-two week high of $243.37. The stock has a market capitalization of $4.31 trillion, a price-to-earnings ratio of 22.59, a P/E/G ratio of 1.54 and a beta of 2.21.

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. The company had revenue of $96.22 billion for the quarter, compared to analyst estimates of $92.27 billion. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. The business’s revenue was up 105.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 earnings per share. Analysts expect that NVIDIA Corporation will post 9.30 EPS for the current fiscal year.

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 typically an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders 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 dividend on an annualized basis and a yield of 0.6%. NVIDIA’s dividend payout ratio is currently 12.64%.

Insiders Place Their Bets

In other NVIDIA news, EVP Timothy Teter sold 30,460 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $598,810,648. This trade represents a 1.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Stevens sold 622,239 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director directly owned 2,336,531 shares of the company’s stock, valued at approximately $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 have sold a total of 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.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NVDA shares. Aletheia Capital downgraded NVIDIA from a “buy” rating to a “hold” rating in a research report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $350.00 price target on shares of NVIDIA in a report on Thursday, October 1st. TD Cowen reaffirmed a “buy” rating on shares of NVIDIA in a report on Tuesday, August 18th. Stifel Nicolaus set a $315.00 price objective on NVIDIA in a research report on Thursday, August 27th. Finally, Piper Sandler started coverage on NVIDIA in a report on Wednesday, September 9th. They set an “overweight” rating and a $300.00 price objective on the stock. Five analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $317.57.

Key NVIDIA News

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: NVIDIA’s underlying business remains strong: its latest reported quarter beat estimates, with revenue up 105.9% year over year. That growth may help support the stock if the controversy does not disrupt operations. Article: Jensen Huang Might Be the Biggest Wild Card for Nvidia Stock
• Positive Sentiment: The company also announced a South Korean AI-infrastructure collaboration with Rebellions and SK Telecom, extending use of NVIDIA’s NVLink platform. Article: NVIDIA, Rebellions and SK Telecom Announce Collaboration
• Neutral Sentiment: NVIDIA’s board has begun an independent investigation into reports that Huang was targeted by a foreign intelligence effort. The board said it has no reason to believe company secrets or national security were compromised; Huang says he is cooperating. The outcome remains uncertain. Article: Statement from NVIDIA Board of Directors
• Negative Sentiment: The investigation follows Huang’s admission of an affair with Alice Huang, a former executive at a company that buys NVIDIA chips, who U.S. intelligence reportedly suspects of links to Chinese intelligence. Investors are concerned about potential exposure of sensitive information, reputational damage, and complications for NVIDIA’s China business. Article: Nvidia Shares Slump on Spy Probe
• Negative Sentiment: Shareholder litigation and possible congressional scrutiny add legal and regulatory risks. Questions about Huang’s future also weigh on sentiment, as reports say NVIDIA has no clear public succession plan for its founder and long-serving CEO. Article: Nvidia’s CEO Turmoil Gives Democrats Fresh Ammunition for Oversight Article: Jensen Huang Affair Puts Nvidia’s Future at Risk

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.