Global Retirement Partners LLC raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 10.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 500,475 shares of the computer hardware maker's stock after buying an additional 48,269 shares during the quarter. NVIDIA comprises about 1.8% of Global Retirement Partners LLC's investment portfolio, making the stock its 7th biggest position. Global Retirement Partners LLC's holdings in NVIDIA were worth $60,778,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the stock. Legal & General Group Plc grew its holdings in shares of NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker's stock worth $26,329,751,000 after buying an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp boosted its position in NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker's stock worth $22,561,200,000 after acquiring an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. grew its stake in NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker's stock worth $12,658,922,000 after acquiring an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP raised its holdings in NVIDIA by 1,123.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker's stock valued at $11,371,255,000 after acquiring an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker's stock worth $10,215,474,000 after purchasing an additional 73,589,208 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on NVDA. Craig Hallum lifted their price objective on NVIDIA from $125.00 to $165.00 and gave the company a "buy" rating in a research report on Thursday, August 29th. Barclays lifted their price target on NVIDIA from $145.00 to $160.00 and gave the company an "overweight" rating in a report on Thursday. Bank of America reaffirmed a "buy" rating and set a $190.00 price objective on shares of NVIDIA in a research note on Thursday. Redburn Atlantic assumed coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They issued a "buy" rating and a $178.00 target price on the stock. Finally, Susquehanna upped their price target on shares of NVIDIA from $160.00 to $180.00 and gave the stock a "positive" rating in a research report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $160.82.
Get Our Latest Research Report on NVDA
NVIDIA Trading Down 1.3 %
Shares of NVDA traded down $1.95 during midday trading on Friday, hitting $144.72. The stock had a trading volume of 40,488,000 shares, compared to its average volume of 396,077,906. The business has a 50-day simple moving average of $133.55 and a two-hundred day simple moving average of $121.72. The firm has a market cap of $3.55 trillion, a P/E ratio of 68.81, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $152.89.
NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the business posted $0.38 EPS. The company's revenue was up 93.6% on a year-over-year basis. As a group, equities analysts forecast that NVIDIA Co. will post 2.68 EPS for the current year.
NVIDIA Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA's payout ratio is 1.88%.
NVIDIA declared that its board has approved a share repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.
Insider Buying and Selling
In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $119.03, for a total value of $14,283,600.00. Following the sale, the chief executive officer now owns 76,494,995 shares of the company's stock, valued at approximately $9,105,199,254.85. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Corporate insiders own 4.23% of the company's stock.
NVIDIA Company Profile
(
Free Report)
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.
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