Center for Financial Planning Inc. has increased its holdings in NVIDIA Corporation (NASDAQ: NVDA) by **4.6%** during the second quarter of 2023, according to a recent disclosure to the Securities and Exchange Commission. The firm now owns **8,429 shares** of NVIDIA, valued at approximately **$1.33 million** following the acquisition of an additional **367 shares** during the quarter.
Several institutional investors have also made adjustments to their positions in NVIDIA. For instance, Twin City Private Wealth LLC raised its holdings by **2.0%**, now owning **4,297 shares** valued at **$679,000** after adding **85 shares**. Balentine LLC significantly increased its stake by **43.1%**, acquiring **10,227 shares** to reach a total of **33,947 shares**, valued at **$5.36 million**.
Additionally, Hutchinson Financial Advisors INC entered the market by purchasing a new stake valued at approximately **$470,000**. Syverson Strege & Co. made a notable increase of **290.6%**, now holding **20,133 shares** worth **$3.18 million** after buying an extra **14,978 shares**. Rede Wealth LLC also raised its position by **0.6%**, now possessing **31,406 shares** valued at **$4.96 million**.
65.27% of NVIDIA’s stock is currently owned by institutional investors, highlighting the strong interest in the company among large financial entities.
Recent Insider Activity
In related developments, Director John Dabiri sold **626 shares** of NVIDIA on **November 24, 2023**, at an average price of **$179.42**, netting a total of **$112,316.92**. Following this transaction, he retains **17,792 shares**, valued at around **$3.19 million**, reflecting a **3.40%** decrease in his ownership.
CEO Jen Hsun Huang also sold a substantial **25,000 shares** on **October 29, 2023**, for a total of **$5,197,750** at an average price of **$207.91**. Post-sale, Huang holds **69,733,203 shares**, valued at approximately **$14.5 billion**, marking a slight **0.04%** decrease in his holdings.
Over the past three months, insiders have sold **3,177,203 shares** of NVIDIA, valued at **$570.17 million**, with insiders owning **4.17%** of the company.
NVIDIA Stock Performance
As of the latest trading session, NVIDIA stock opened at **$176.67**, reflecting a **2.0%** decline. The company boasts a market capitalization of **$4.29 trillion** with a price-to-earnings ratio of **50.33**. Its fifty-day moving average price stands at **$186.90**, while its two-hundred-day moving average is **$170.18**.
NVIDIA has experienced significant volatility, with a **1-year low** of **$86.62** and a **1-year high** of **$212.19**. Financial ratios indicate a robust position, with a current ratio of **4.21**, a quick ratio of **3.60**, and a debt-to-equity ratio of **0.08**.
On **November 19, 2023**, NVIDIA reported earnings of **$1.30** per share, surpassing analysts’ expectations of **$1.23**. The company generated revenue of **$57.01 billion** for the quarter, exceeding predictions of **$54.66 billion**. This represents a remarkable **62.5%** year-over-year increase in revenue.
NVIDIA has set guidance for **Q4 2026**, with analysts projecting an average earnings per share of **2.77** for the current fiscal year.
Dividend Announcement and Analyst Ratings
NVIDIA has declared a quarterly dividend to be paid on **December 26, 2023**, with shareholders on record as of **December 4, 2023**, receiving **$0.01** per share. This dividend translates to an annualized yield of **0.0%** amid a payout ratio of **0.99%**.
Wall Street analysts have recently revised their price targets for NVIDIA. Truist Financial increased their target from **$228.00** to **$255.00**, maintaining a “buy” rating. Other firms like President Capital and Morgan Stanley also lifted their targets to **$245.00** and **$235.00**, respectively.
Currently, five analysts rate NVIDIA as a Strong Buy, while **46** have issued a Buy rating, **two** have given a Hold rating, and **one** has assigned a Sell rating. According to MarketBeat, the average target price for NVIDIA shares stands at **$258.30**, indicating strong market confidence in the company’s future growth.
NVIDIA Corporation continues to provide cutting-edge graphics and computing solutions globally, maintaining a decisive position in the tech industry.
