Presilium Private Wealth LLC has increased its stake in NVIDIA Corporation (NASDAQ: NVDA) by 15% during the second quarter of 2023, as reported in its recent Form 13F filing with the Securities and Exchange Commission. Following the acquisition of an additional 498 shares, the institutional investor now holds a total of 3,825 shares valued at approximately $604,000.
Other institutional investors have also adjusted their positions in NVIDIA. Notably, Kingstone Capital Partners Texas LLC dramatically raised its holdings by 267,959.7%, now owning 382,373,765 shares worth around $64.98 billion. This increase followed the purchase of 382,231,120 shares in the last quarter.
UBS Asset Management Americas LLC increased its stake by 2.9% in the first quarter, acquiring an additional 5,896,735 shares, bringing its total to 206,794,926 shares, valued at about $22.41 billion. Goldman Sachs Group Inc. also expanded its position by 123.5%, now holding 187,995,213 shares worth approximately $20.37 billion. Additionally, Nuveen LLC entered a new position valued at around $15.09 billion, while Amundi increased its stake by 16%.
As of now, hedge funds and institutional investors collectively hold 65.27% of NVIDIA’s stock.
NVIDIA’s Market Performance and Financial Highlights
On October 2, 2023, NVIDIA shares opened at $198.69. The company boasts a market capitalization of $4.83 trillion, a price-to-earnings ratio of 56.61, and a beta of 2.12. Over the last twelve months, the stock has fluctuated between a low of $86.62 and a high of $212.19.
NVIDIA released its quarterly earnings on August 27, 2023, reporting earnings per share of $1.05, surpassing analysts’ expectations of $1.01. The company generated revenue of $46.74 billion, outpacing projections of $45.65 billion. This performance marks a 55.6% increase in revenue compared to the same quarter last year. NVIDIA also announced guidance for Q3 2026, projecting earnings per share of $2.77 for the current year.
Dividend Announcements and Analyst Ratings
NVIDIA recently declared a quarterly dividend of $0.01, which was paid on October 2, 2023, to shareholders on record as of September 11, 2023. This dividend translates to an annual yield of 0.0% and a payout ratio of 1.14%.
Several research analysts have provided updates on NVIDIA’s stock ratings. Phillip Securities upgraded NVIDIA from “moderate buy” to “strong-buy” on July 14, 2023. Loop Capital increased its price target from $250.00 to $350.00 while maintaining a “buy” rating. Similarly, Rosenblatt Securities raised its target from $215.00 to $240.00. Melius Research set a target of $300.00, and Needham & Company LLC lifted its target from $200.00 to $240.00.
Overall, five investment analysts rate the stock as a strong buy, with 41 giving it a buy rating, two assigning a hold rating, and one a sell rating. The consensus target price stands at $233.75 according to MarketBeat.
In related news, CEO Jen Hsun Huang sold 25,000 shares of NVIDIA on October 29, 2023, for a total of approximately $5.20 million. Following this transaction, Huang retains 69,733,203 shares valued at around $14.50 billion. CFO Colette Kress also sold 27,640 shares for about $5.01 million, reducing her stake to 2,855,762 shares valued at approximately $518.09 million.
NVIDIA Corporation specializes in providing graphics and computational solutions across various sectors globally, including gaming and enterprise applications. The company continues to solidify its position as a leader in the technology industry, driven by strong demand for its products and services.
