Summa Corp. Has $95.55 Million Stock Position in NVIDIA Corporation $NVDA

Summa Corp. trimmed its stake in NVIDIA Corporation (NASDAQ:NVDA) by 22.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 604,803 shares of the computer hardware maker’s stock after selling 179,920 shares during the quarter. NVIDIA makes up 49.6% of Summa Corp.’s holdings, making the stock its largest holding. Summa Corp.’s holdings in NVIDIA were worth $95,553,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of NVDA. Legend Financial Advisors Inc. acquired a new position in shares of NVIDIA in the second quarter worth about $55,000. Kathleen S. Wright Associates Inc. lifted its position in shares of NVIDIA by 169.3% in the 1st quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock valued at $44,000 after acquiring an additional 254 shares in the last quarter. Westend Capital Management LLC boosted its stake in NVIDIA by 46.8% in the 2nd quarter. Westend Capital Management LLC now owns 455 shares of the computer hardware maker’s stock worth $72,000 after purchasing an additional 145 shares during the period. Barnes Dennig Private Wealth Management LLC purchased a new position in NVIDIA during the 1st quarter worth approximately $51,000. Finally, Campbell Capital Management Inc. grew its position in NVIDIA by 5,900.0% during the 1st quarter. Campbell Capital Management Inc. now owns 600 shares of the computer hardware maker’s stock worth $65,000 after purchasing an additional 590 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NVDA. DA Davidson set a $250.00 target price on NVIDIA and gave the company a “buy” rating in a report on Wednesday, October 29th. President Capital raised their price objective on NVIDIA from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. HSBC set a $320.00 target price on NVIDIA and gave the company a “buy” rating in a research note on Wednesday, October 15th. Melius Research set a $300.00 price target on shares of NVIDIA in a report on Wednesday, October 29th. Finally, Wells Fargo & Company boosted their price objective on shares of NVIDIA from $185.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, August 11th. Five equities research analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $233.25.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 27,640 shares of the stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $181.42, for a total transaction of $5,014,448.80. Following the completion of the sale, the chief financial officer owned 2,855,762 shares of the company’s stock, valued at $518,092,342.04. This represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 25,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $207.91, for a total value of $5,197,750.00. Following the completion of the sale, the chief executive officer directly owned 69,733,203 shares in the company, valued at approximately $14,498,230,235.73. This represents a 0.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 3,578,937 shares of company stock valued at $641,069,346. 4.17% of the stock is owned by corporate insiders.

NVIDIA Trading Up 2.2%

NVIDIA stock opened at $206.88 on Tuesday. The business has a 50 day moving average price of $182.38 and a two-hundred day moving average price of $160.79. The company has a quick ratio of 3.60, a current ratio of 4.21 and a debt-to-equity ratio of 0.08. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $212.19. The stock has a market cap of $5.03 trillion, a price-to-earnings ratio of 58.94, a price-to-earnings-growth ratio of 1.49 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 27th. The computer hardware maker reported $1.05 EPS for the quarter, beating the consensus estimate of $1.01 by $0.04. NVIDIA had a net margin of 52.41% and a return on equity of 101.74%. The company had revenue of $46.74 billion for the quarter, compared to the consensus estimate of $45.65 billion. During the same quarter in the previous year, the company earned $0.68 EPS. The firm’s revenue for the quarter was up 55.6% compared to the same quarter last year. NVIDIA has set its Q3 2026 guidance at EPS. As a group, equities analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA’s payout ratio is 1.14%.

NVIDIA Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.