Josh Arnold Investment Consultant LLC boosted its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 52.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,374 shares of the computer hardware maker's stock after purchasing an additional 8,429 shares during the period. NVIDIA comprises about 2.4% of Josh Arnold Investment Consultant LLC's holdings, making the stock its 3rd largest holding. Josh Arnold Investment Consultant LLC's holdings in NVIDIA were worth $2,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its position 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 valued at $26,329,751,000 after buying an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp lifted its stake 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 worth $22,561,200,000 after acquiring an additional 163,482,580 shares during the period. 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 acquiring an additional 6,526,200 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in NVIDIA by 1.4% during the 3rd 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. raised its holdings 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 during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.
NVIDIA Price Performance
NASDAQ:NVDA traded up $4.56 during mid-day trading on Wednesday, hitting $136.32. 184,452,822 shares of the stock traded hands, compared to its average volume of 229,312,391. NVIDIA Co. has a 12-month low of $54.74 and a 12-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. The company has a market cap of $3.34 trillion, a PE ratio of 53.65, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The business's 50-day moving average price is $139.68 and its 200 day moving average price is $128.82.
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 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 company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter last year, the business posted $0.38 earnings per share. The firm's revenue was up 93.6% compared to the same quarter last year. On average, analysts expect that NVIDIA Co. will post 2.78 EPS for the current fiscal year.
NVIDIA Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA's payout ratio is presently 1.57%.
Analyst Upgrades and Downgrades
NVDA has been the subject of several research analyst reports. William Blair initiated coverage on NVIDIA in a research report on Wednesday, September 18th. They issued an "outperform" rating for the company. Redburn Atlantic started coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They issued a "buy" rating and a $178.00 price objective for the company. Needham & Company LLC increased their target price on shares of NVIDIA from $145.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. Susquehanna boosted their price objective on NVIDIA from $160.00 to $180.00 and gave the company a "positive" rating in a report on Thursday, November 14th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $175.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Four 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $164.27.
Check Out Our Latest Stock Analysis on NVIDIA
Insider Buying and Selling
In other news, Director John Dabiri sold 716 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, 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. Over the last ninety days, insiders sold 1,108,348 shares of company stock worth $146,506,958. 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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