Miracle Mile Advisors LLC boosted its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 27.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 503,974 shares of the computer hardware maker's stock after purchasing an additional 109,811 shares during the period. NVIDIA comprises approximately 1.4% of Miracle Mile Advisors LLC's portfolio, making the stock its 19th largest position. Miracle Mile Advisors LLC's holdings in NVIDIA were worth $67,679,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Ironwood Wealth Management LLC. grew its stake in shares of NVIDIA by 896.9% in the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker's stock worth $782,000 after acquiring an additional 5,695 shares in the last quarter. Financial Guidance Group Inc. grew its stake in shares of NVIDIA by 900.0% in the second quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker's stock worth $445,000 after acquiring an additional 3,240 shares in the last quarter. Tobam grew its stake in shares of NVIDIA by 811.4% in the second quarter. Tobam now owns 41,489 shares of the computer hardware maker's stock worth $5,126,000 after acquiring an additional 36,937 shares in the last quarter. Heritage Family Offices LLP acquired a new position in shares of NVIDIA in the second quarter worth $257,000. Finally, GraniteShares Advisors LLC lifted its position in shares of NVIDIA by 2,855.6% during the 2nd quarter. GraniteShares Advisors LLC now owns 1,330,000 shares of the computer hardware maker's stock worth $164,308,000 after purchasing an additional 1,285,000 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on NVDA shares. 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. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the stock a "hold" rating in a research report on Thursday, November 21st. Tigress Financial raised shares of NVIDIA from a "buy" rating to a "strong-buy" rating and lifted their price objective for the stock from $170.00 to $220.00 in a research report on Tuesday. Stifel Nicolaus lifted their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Finally, Susquehanna boosted their price target on shares of NVIDIA from $160.00 to $180.00 and gave the company a "positive" rating in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of "Moderate Buy" and an average target price of $166.23.
Check Out Our Latest Report on NVDA
Insiders Place Their Bets
In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares of the company's stock, valued at $589,726,376.80. This trade represents a 0.93 % 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, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the sale, the insider now directly owns 480,899 shares of the company's stock, valued at $65,056,016.72. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock valued at $146,506,958 over the last quarter. Company insiders own 4.23% of the company's stock.
NVIDIA Trading Up 0.8 %
Shares of NVDA traded up $1.05 on Thursday, hitting $124.75. 390,509,528 shares of the stock traded hands, compared to its average volume of 292,494,438. 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 firm has a market capitalization of $3.06 trillion, a P/E ratio of 49.09, a P/E/G ratio of 2.65 and a beta of 1.64. The stock's 50 day moving average is $137.46 and its two-hundred day moving average is $129.40. NVIDIA Co. has a 1 year low of $60.70 and a 1 year high of $153.13.
NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company's quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 earnings per share. As a group, sell-side analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current year.
NVIDIA Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA's payout ratio is 1.57%.
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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