M&G Plc Acquires 135,980 Shares of NVIDIA Co. (NASDAQ:NVDA)

M&G PLC increased its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 54.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 385,559 shares of the computer hardware maker's stock after purchasing an additional 135,980 shares during the period. M&G PLC's holdings in NVIDIA were worth $46,653,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. D.B. Root & Company LLC grew its stake in shares of NVIDIA by 1.4% during the 3rd quarter. D.B. Root & Company LLC now owns 26,706 shares of the computer hardware maker's stock worth $3,243,000 after acquiring an additional 362 shares in the last quarter. Dechtman Wealth Management LLC boosted its holdings in NVIDIA by 3.7% during the third quarter. Dechtman Wealth Management LLC now owns 25,748 shares of the computer hardware maker's stock worth $3,127,000 after purchasing an additional 927 shares during the last quarter. Smart Portfolios LLC grew its position in NVIDIA by 2.7% in the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker's stock valued at $341,000 after purchasing an additional 75 shares in the last quarter. American Capital Advisory LLC increased its stake in NVIDIA by 759.6% in the 3rd quarter. American Capital Advisory LLC now owns 12,240 shares of the computer hardware maker's stock valued at $1,486,000 after buying an additional 10,816 shares during the last quarter. Finally, Consilium Wealth Advisory LLC lifted its position in NVIDIA by 2.8% during the 3rd quarter. Consilium Wealth Advisory LLC now owns 87,338 shares of the computer hardware maker's stock worth $10,606,000 after buying an additional 2,414 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Price Performance

NVIDIA stock opened at $134.70 on Friday. The stock has a fifty day moving average of $139.63 and a 200-day moving average of $127.25. The stock has a market capitalization of $3.30 trillion, a P/E ratio of 53.01, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a 52 week low of $47.32 and a 52 week high of $152.89.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results 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. The firm had revenue of $35.08 billion during the quarter, compared to analysts' expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business's revenue for the quarter was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 earnings per share. On average, sell-side analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA announced that its board has authorized a share repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA's payout ratio is 1.57%.

Insider Activity at NVIDIA

In related news, Director John Dabiri sold 716 shares of the firm's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares of the company's stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,556,986 shares of company stock valued at $201,687,727 in the last 90 days. 4.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NVDA. Redburn Atlantic assumed coverage on NVIDIA in a research report on Tuesday, November 12th. They issued a "buy" rating and a $178.00 target price on the stock. Oppenheimer reaffirmed an "outperform" rating and set a $175.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Benchmark increased their price objective on NVIDIA from $170.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, November 21st. Citigroup boosted their target price on shares of NVIDIA from $170.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, November 21st. Finally, Phillip Securities reiterated an "accumulate" rating and issued a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $164.15.

About NVIDIA

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.