Fifth Third Wealth Advisors LLC raised its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 505,767 shares of the computer hardware maker's stock after purchasing an additional 25,056 shares during the quarter. NVIDIA accounts for approximately 3.7% of Fifth Third Wealth Advisors LLC's portfolio, making the stock its 4th largest position. Fifth Third Wealth Advisors LLC's holdings in NVIDIA were worth $67,919,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in NVIDIA by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker's stock worth $66,101,133,000 after buying an additional 11,525,969 shares in the last quarter. Legal & General Group Plc raised its stake in shares of NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker's stock valued at $26,329,751,000 after acquiring an additional 191,469,114 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in NVIDIA by 3.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker's stock valued at $21,908,236,000 after purchasing an additional 6,526,200 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in NVIDIA by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker's stock valued at $17,738,630,000 after purchasing an additional 2,042,348 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in NVIDIA by 870.3% during 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 purchasing an additional 91,867,031 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
NVDA has been the subject of several recent research reports. Phillip Securities reiterated an "accumulate" rating and issued a $160.00 price objective (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Bank of America reiterated a "buy" rating and set a $190.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Needham & Company LLC raised their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, November 21st. Truist Financial lifted their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Finally, Mizuho raised their price target on NVIDIA from $165.00 to $175.00 and gave the company an "outperform" rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, NVIDIA presently has a consensus rating of "Moderate Buy" and an average target price of $166.23.
View Our Latest Report on NVDA
NVIDIA Price Performance
Shares of NVDA traded up $1.99 on Tuesday, reaching $118.65. The stock had a trading volume of 255,091,287 shares, compared to its average volume of 298,928,406. The firm has a 50-day moving average of $136.19 and a 200 day moving average of $129.38. The firm has a market capitalization of $2.91 trillion, a PE ratio of 46.69, a PEG ratio of 2.16 and a beta of 1.62. NVIDIA Co. has a twelve month low of $66.25 and a twelve month high of $153.13. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.
NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion during the quarter, compared to analysts' expectations of $33.15 billion. During the same quarter last year, the business posted $0.38 earnings per share. The business's revenue for the quarter was up 93.6% on a year-over-year basis. Sell-side analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.
NVIDIA Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were given a $0.01 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA's dividend payout ratio is presently 1.57%.
Insider Transactions at NVIDIA
In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the firm's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the sale, the chief financial officer now directly owns 3,351,572 shares of the company's stock, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares of the company's stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock valued at $146,506,958 in the last ninety days. Corporate insiders own 4.23% of the company's stock.
NVIDIA 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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