Allstate Corp Buys 963,211 Shares of NVIDIA Corporation $NVDA

Allstate Corp increased its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 108.7% during the fourth quarter, Holdings Channel reports. The fund owned 1,849,418 shares of the computer hardware maker’s stock after acquiring an additional 963,211 shares during the quarter. NVIDIA makes up 4.7% of Allstate Corp’s holdings, making the stock its 3rd largest holding. Allstate Corp’s holdings in NVIDIA were worth $344,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Longfellow Investment Management Co. LLC lifted its position in shares of NVIDIA by 47.9% in the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock worth $33,000 after purchasing an additional 67 shares in the last quarter. Spurstone Advisory Services LLC acquired a new stake in NVIDIA during the second quarter valued at $40,000. Syntax Research Inc. grew its stake in NVIDIA by 62.5% in the fourth quarter. Syntax Research Inc. now owns 260 shares of the computer hardware maker’s stock valued at $49,000 after purchasing an additional 100 shares in the last quarter. Sellwood Investment Partners LLC acquired a new position in NVIDIA in the 3rd quarter worth about $50,000. Finally, Networth Advisors LLC acquired a new position in NVIDIA in the 4th quarter worth about $51,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In other news, Director Aarti S. Shah sold 19,000 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $176.71, for a total transaction of $3,357,490.00. Following the completion of the sale, the director owned 36,007 shares in the company, valued at $6,362,796.97. The trade was a 34.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephen C. Neal sold 15,500 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $215.73, for a total value of $3,343,815.00. Following the transaction, the director directly owned 116,135 shares in the company, valued at $25,053,803.55. This trade represents a 11.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,622,461 shares of company stock valued at $332,629,083 over the last quarter. Company insiders own 3.94% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Susquehanna reissued a “positive” rating and issued a $275.00 target price (up from $250.00) on shares of NVIDIA in a research report on Tuesday, May 12th. Morgan Stanley set a $288.00 price objective on NVIDIA and gave the company an “overweight” rating in a report on Thursday, May 21st. New Street Research cut their price objective on NVIDIA from $343.00 to $340.00 in a research note on Thursday, May 21st. Seaport Research Partners lifted their target price on shares of NVIDIA from $140.00 to $180.00 and gave the stock a “sell” rating in a report on Thursday, May 21st. Finally, Wolfe Research reissued an “outperform” rating and set a $275.00 target price on shares of NVIDIA in a research report on Thursday, May 21st. Three analysts have rated the stock with a Strong Buy rating, forty-eight have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $305.67.

NVIDIA Trading Up 1.7%

Shares of NVIDIA stock opened at $208.64 on Tuesday. NVIDIA Corporation has a 12-month low of $140.85 and a 12-month high of $236.54. The stock has a market capitalization of $5.05 trillion, a P/E ratio of 31.95, a price-to-earnings-growth ratio of 0.46 and a beta of 2.22. The company has a 50-day simple moving average of $204.12 and a 200 day simple moving average of $190.77. The company has a quick ratio of 2.85, a current ratio of 3.44 and a debt-to-equity ratio of 0.04.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, May 20th. The computer hardware maker reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.11. The firm had revenue of $81.62 billion during the quarter, compared to the consensus estimate of $78.42 billion. NVIDIA had a return on equity of 96.94% and a net margin of 62.97%.The business’s revenue for the quarter was up 85.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 EPS. Research analysts expect that NVIDIA Corporation will post 8.61 earnings per share for the current fiscal year.

NVIDIA announced that its board has authorized a share buyback program on Wednesday, May 20th that allows the company to buyback $80.00 billion in shares. This buyback authorization allows the computer hardware maker to purchase up to 1.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Thursday, June 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. This is an increase from NVIDIA’s previous quarterly dividend of $0.01. NVIDIA’s payout ratio is currently 15.31%.

Key Stories Impacting NVIDIA

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: NVIDIA announced multiyear partnerships in South Korea with SK Hynix, SK Telecom, and NAVER to build gigawatt-scale AI clouds and AI factories using NVIDIA’s DSX platform, which expands its footprint in sovereign AI, data centers, and next-generation memory supply. NVIDIA and SK hynix Announce Multiyear Technology Partnership to Advance Memory for AI Factories
• Positive Sentiment: CEO Jensen Huang said the recent chip selloff should make investors “very happy,” reinforcing the view that AI demand remains strong and that the pullback may be a buying opportunity for semiconductor stocks. Nvidia Stock Rises as CEO Says Chip Selloff Should Make Investors ‘Very Happy’
• Positive Sentiment: Reports that Apple is partnering with Google and NVIDIA for a more advanced AI model, plus continued interest from investors and analysts, add to the bullish narrative that NVIDIA remains central to the AI buildout. Apple partnering with Google and Nvidia for most advanced AI model
• Neutral Sentiment: Some coverage highlighted concerns that NVIDIA’s AI PC push is still based on unproven consumer demand beyond niche users, suggesting this initiative may take time to meaningfully contribute to growth. Nvidia’s AI PC push banks on unproven demand beyond niche users
• Negative Sentiment: There was also attention on NVIDIA CEO Jensen Huang declining a Senate invitation to testify on AI and China export controls, keeping regulatory and geopolitical risks in view. Nvidia CEO Jensen Huang declines Senate testimony on AI, China and exports

NVIDIA Company Profile

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.