Leelyn Smith LLC has reduced its stake in NVIDIA Corporation (NASDAQ: NVDA) by 4.9% during the third quarter of 2024, according to the firm’s latest 13F filing with the Securities and Exchange Commission. Following the sale of 4,415 shares, the investment firm now holds 85,418 shares of the renowned computer hardware manufacturer. As of the most recent filing, NVIDIA represents approximately 2.4% of Leelyn Smith LLC’s portfolio, positioning it as the firm’s seventh largest holding, valued at around $15,937,000.
Several other institutional investors have also adjusted their positions in NVIDIA recently. Websterrogers Financial Advisors LLC increased its holdings by 2.6%, acquiring an additional 54 shares to reach a total of 2,118 shares, worth approximately $395,000. Similarly, Helen Stephens Group LLC raised its stake by 3.9%, bringing its total to 1,483 shares valued at $277,000 after purchasing an additional 56 shares. Other firms, such as Morton Brown Family Wealth LLC and Roof Eidam Maycock Peralta LLC, have also made minor adjustments to their holdings, reflecting a broader trend among institutional investors.
Currently, institutional investors and hedge funds own approximately 65.27% of NVIDIA’s stock, indicating a strong interest in the company.
Analyst Ratings and Stock Performance
Several equity analysts have recently provided insights into NVIDIA’s stock. Zacks Research downgraded NVIDIA from a “strong buy” to a “hold” rating in a report dated January 12, 2024. On the other hand, Arete Research increased its price target for NVIDIA from $244.00 to $261.00 while maintaining a “buy” rating. William Blair reiterated an “outperform” rating, and Argus reaffirmed a “buy” rating with a target price of $220.00. Overall, four analysts have issued a “strong buy” rating, while 46 recommend a “buy,” and two suggest a “hold,” leading to a consensus rating of “buy” and an average target price of $264.20.
As of January 11, 2024, shares of NVIDIA opened at $190.20. The company boasts a market capitalization of $4.62 trillion, a price-to-earnings (PE) ratio of 47.20, and a price-to-earnings-growth (PEG) ratio of 0.58. Over the past year, NVIDIA’s stock has experienced significant volatility, with a 52-week low of $86.62 and a high of $212.19.
NVIDIA’s recent quarterly earnings report, released on November 19, 2023, revealed earnings per share (EPS) of $1.30, surpassing analyst expectations of $1.23 by $0.07. The company reported revenues of $57.01 billion, significantly exceeding the forecast of $54.66 billion, and achieved a net margin of 53.01% with a return on equity of 99.24%. This demonstrates a remarkable year-over-year revenue growth of 62.5% compared to the same quarter in the previous year.
NVIDIA’s Dividend and Insider Activity
In addition to its financial performance, NVIDIA announced a quarterly dividend, which was paid on December 26, 2023. Stockholders of record on December 4 received a dividend of $0.01 per share, representing a 0.0% yield and an annualized dividend of $0.04. The company’s dividend payout ratio currently stands at 0.99%.
Insider activity has also been notable at NVIDIA. Chief Financial Officer Colette Kress recently sold 30,500 shares at an average price of $178.11, totaling approximately $5,432,355. Following this transaction, Kress retains 1,286,826 shares valued at over $229 million. In another significant move, Executive Vice President Ajay K. Puri sold 200,000 shares for a total of $37.56 million, reducing his ownership by 4.98%.
Over the past ninety days, insiders have sold a total of 1,611,474 shares of NVIDIA stock, amounting to approximately $291.73 million. Currently, insiders hold 4.17% of the company’s stock.
NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a leading technology company specializing in graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, the company has evolved from a graphics-focused chipmaker to a comprehensive provider of accelerated computing solutions across various industries.
