SwitchPoint Financial Planning LLC has increased its ownership in NVIDIA Corporation (NASDAQ: NVDA) by 12.8% during the second quarter of 2023. According to the latest Form 13F filing with the Securities and Exchange Commission (SEC), the firm now holds 4,530 shares after acquiring an additional 514 shares. The value of SwitchPoint’s holdings in NVIDIA is approximately $716,000.
Several other institutional investors have also adjusted their positions in NVIDIA recently. Notably, Ferguson Shapiro LLC initiated a new investment in NVIDIA valued at $275,000. Providence First Trust Co raised its stake by 16.5%, bringing its total to 45,758 shares worth $7.23 million after purchasing 6,475 shares during the same period. Strategic Financial Services Inc. increased its holdings by 0.6%, resulting in ownership of 11,357 shares valued at $1.79 million after acquiring 71 shares last quarter. Furthermore, General American Investors Co. Inc. expanded its position by 19.8%, now owning 160,979 shares worth $25.43 million after adding 26,600 shares.
As of now, institutional investors collectively own 65.27% of NVIDIA’s stock.
Insider Transactions and Market Performance
In related news, significant insider transactions have taken place at NVIDIA. On September 18, 2023, Director Harvey C. Jones sold 250,000 shares at an average price of $176.21, resulting in a total transaction value of $44,052,500. This sale reduced his direct ownership to 7,183,280 shares, valued at approximately $1.27 billion, marking a 3.36% decrease in his stake.
Additionally, CEO Jen Hsun Huang sold 75,000 shares on September 10, 2023, at an average price of $177.57, totaling $13,317,750. Following this transaction, Huang’s ownership in NVIDIA decreased by 0.10%, leaving him with approximately 72,248,366 shares valued at around $12.83 billion. Over the past ninety days, insiders have sold 3,251,577 shares worth $583.14 million.
NVIDIA’s Financial Outlook
NVIDIA’s stock opened at $182.55 on Tuesday, reflecting a 2.1% increase. The company has a low debt-to-equity ratio of 0.08 and robust liquidity ratios, including a quick ratio of 3.60 and a current ratio of 4.21. The stock’s 50-day moving average stands at $186.56, while the 200-day moving average is $169.23.
Over the past year, NVIDIA’s stock has shown significant volatility, with a low of $86.62 and a high of $212.19. The company’s market capitalization is approximately $4.44 trillion, with a price-to-earnings ratio of 52.01 and a beta of 2.11.
NVIDIA recently reported its quarterly earnings on November 19, 2023, revealing earnings per share (EPS) of $1.30, surpassing analysts’ expectations of $1.23 by $0.07. The firm recorded revenue of $57.01 billion, exceeding analyst estimates of $54.66 billion. This reflects a remarkable 62.5% increase in revenue compared to the same quarter last year, when the company earned $0.81 per share.
Looking ahead, NVIDIA has projected a Q4 2026 guidance for EPS at an average of $2.77.
NVIDIA has also announced a quarterly dividend of $0.01 per share, scheduled for payment on December 26, 2023, to stockholders of record as of December 4, 2023. This represents an annualized dividend of $0.04 and a payout ratio of 0.99%.
NVIDIA Corporation specializes in providing graphics, compute, and networking solutions across the globe, including the United States, Taiwan, China, and Hong Kong. The company offers a range of products, including GeForce GPUs for gaming, virtual GPU software for cloud computing, and platforms for automotive infotainment systems, among others.
As institutional interest in NVIDIA continues to grow, the company’s market performance and strategic initiatives will be closely monitored by investors and analysts alike.
