Naviter Wealth LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 14.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 129,254 shares of the computer hardware maker's stock after acquiring an additional 16,520 shares during the quarter. NVIDIA comprises 2.2% of Naviter Wealth LLC's investment portfolio, making the stock its 8th biggest position. Naviter Wealth LLC's holdings in NVIDIA were worth $15,698,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Legal & General Group Plc increased its stake in shares of NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker's stock worth $26,329,751,000 after acquiring an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker's stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares during the period. Ameriprise Financial Inc. increased its position in NVIDIA by 870.3% during the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker's stock worth $12,658,922,000 after purchasing an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of NVIDIA by 1,123.2% during 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 buying an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in NVIDIA by 808.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker's stock valued at $10,215,474,000 after buying an additional 73,589,208 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.
Wall Street Analysts Forecast Growth
NVDA has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price target on NVIDIA from $155.00 to $170.00 and gave the stock an "overweight" rating in a research report on Thursday. UBS Group upped their target price on shares of NVIDIA from $150.00 to $185.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Barclays boosted their price target on shares of NVIDIA from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Thursday. Robert W. Baird increased their price objective on NVIDIA from $150.00 to $190.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $175.00 target price on shares of NVIDIA in a research note on Thursday. Five investment 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $160.82.
Get Our Latest Stock Analysis on NVIDIA
Insider Buying and Selling
In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total value of $13,291,200.00. Following the completion of the sale, the chief executive officer now directly owns 76,375,705 shares of the company's stock, valued at approximately $8,459,373,085.80. The trade was a 0.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock worth $254,784,327 in the last ninety days. Insiders own 4.23% of the company's stock.
NVIDIA Price Performance
NVIDIA stock traded down $1.95 during mid-day trading on Friday, reaching $144.72. The company had a trading volume of 40,488,000 shares, compared to its average volume of 396,077,906. The stock's 50-day simple moving average is $133.55 and its 200-day simple moving average is $121.72. The company has a market capitalization of $3.55 trillion, a P/E ratio of 68.81, a P/E/G ratio of 1.54 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $152.89.
NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $35.08 billion during the quarter, compared to analysts' expectations of $33.15 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. NVIDIA's revenue was up 93.6% on a year-over-year basis. On average, equities analysts predict 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. Stockholders of record on Thursday, December 5th will be given a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA's dividend payout ratio is presently 1.88%.
NVIDIA declared that its board has approved a share buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is undervalued.
About NVIDIA
(
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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