The Vanguard Group, Inc. recently announced the acquisition of new stake in NVIDIA Corp (NASDAQ:NVDA). The institutional investor has increased its shareholding in the Technology company by 1.14% to 193.39 million shares with purchase of 2.18 million shares. This fresh investment now brings its stake to 7.83% valued currently at $90.45 billion. In addition, BlackRock Fund Advisors raised its holdings by 10745.0 to 115.86 million shares. And Geode Capital Management LLC has lifted its position by 2.22% or 1.05 million shares – to 48.51 million shares.
With over 47.86 million NVIDIA Corp (NVDA) shares trading Friday and a closing price of $488.90 on the day, the dollar volume was approximately $23.4 billion. The shares have shown a positive half year performance of 14.52% and its price on 12/15/23 gained nearly 1.12%. Currently, there are 2.47B common shares owned by the public and among those 2.37B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 52 analysts who have offered their price forecasts for NVDA have a consensus price objective of $666.70. The analysts have set the share’s price value over the next 12 months at a high of $1100.00 and a low of $535.00. The average price target is 26.67% above its recent price level and an upside to the estimated low will see the stock gain 8.62% over that period. But an upside of 55.55% will see the stock hit the forecast high price target while median target price for the stock is $645.00.
Insiders at the company have transacted a total of 254 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 46 of these insider trades were purchases, accounting for 1,658,948 shares. Insider sales of the common stock occurred on 208 occasions, with total insider shares sold totaling 3,340,932 shares.
The top 3 mutual fund holders in NVIDIA Corp are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Fidelity 500 Index Fund. Vanguard Total Stock Market ETF owns 73.45 million shares of the company’s stock, all valued at over $34.35 billion. The company bought an additional 0.35 million shares recently to bring their total holdings to about 2.97% of the shares outstanding. Vanguard 500 Index Fund bought 0.28 million shares to see its total holdings expand to 59.65 million shares valued at over $27.9 billion and representing 2.42% of the shares outstanding. Fidelity 500 Index Fund bought 0.23 million shares to bring its total holdings to over 28.6 million shares at a value of $13.38 billion. Fidelity 500 Index Fund now owns shares totaling to 1.16% of the shares outstanding.
Shares of NVIDIA Corp (NASDAQ: NVDA) opened at $481.94, down -$1.56 from a prior closing price of $483.50. However, the script later moved the day high at 494.04, up 1.12%. The company’s stock has a 5-day price change of 2.91% and 11.20% over the past three months. NVDA shares are trading 234.54% year to date (YTD), with the 12-month market performance up to 176.62% higher. It has a 12-month low price of $138.84 and touched a high of $505.48 over the same period. NVDA has an average intraday trading volume of 43.83 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.31%, 6.52%, and 24.35% respectively.
Institutional ownership of NVIDIA Corp (NASDAQ: NVDA) shares accounts for 67.61% of the company’s 2.47B shares outstanding. Mutual fund holders own 38.97%, while other institutional holders and individual stakeholders account for 4.08% and 28.83% respectively.
It has a market capitalization of $1207.58B and a beta (3y monthly) value of 1.64. The stock’s trailing 12-month PE ratio is 64.55, while the earnings-per-share (ttm) stands at $7.57. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.92% over the week and 2.75% over the month.
Analysts forecast that NVIDIA Corp (NVDA) will achieve an EPS of $4.12 for the current quarter, $4.32 for the next quarter and $18.79 for 2025. The lowest estimate earnings-per-share for the quarter is $3.97 while analysts give the company a high EPS estimate of $4.35. Comparatively, EPS for the current quarter was $0.88 a year ago. Earnings per share for the fiscal year are expected to increase by 266.96%, and 69.59% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 52 brokerage firm advisors rate NVIDIA Corp (NVDA) as a “Strong Buy” at a consensus score of 1.25. Specifically, 42 Wall Street analysts polled rate the stock as a buy, while 3 of the 52 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NVDA, a number of firms have released research notes about the stock. Wells Fargo stated their Overweight rating for the stock in a research note on November 22, 2023, with the firm’s price target at $600-$675.
