Jackson Square Capital LLC reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 227,028 shares of the computer hardware maker's stock after selling 6,966 shares during the period. NVIDIA makes up approximately 6.8% of Jackson Square Capital LLC's holdings, making the stock its 2nd biggest holding. Jackson Square Capital LLC's holdings in NVIDIA were worth $27,570,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc grew its holdings in shares of NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker's stock worth $26,329,751,000 after buying an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of NVIDIA by 854.1% during the 2nd 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 in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker's stock valued at $12,658,922,000 after purchasing an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker's stock worth $11,371,255,000 after purchasing an additional 84,515,429 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in NVIDIA by 808.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker's stock worth $10,215,474,000 after purchasing an additional 73,589,208 shares during the last quarter. Institutional investors own 65.27% of the company's stock.
Insider Activity
In related news, Director Mark A. Stevens sold 165,100 shares of the firm's stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the completion of the sale, the director now owns 8,420,117 shares in the company, valued at approximately $1,021,107,588.59. This trade represents a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 66,670 shares of the business's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the sale, the chief financial officer now owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,556,986 shares of company stock valued at $201,687,727 in the last ninety days. 4.23% of the stock is currently owned by insiders.
NVIDIA Stock Up 3.1 %
Shares of NVDA stock traded up $4.02 during trading hours on Friday, reaching $134.70. The company had a trading volume of 304,377,688 shares, compared to its average volume of 382,932,125. The company has a market cap of $3.30 trillion, a price-to-earnings 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 current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 12 month low of $47.32 and a 12 month high of $152.89. The business has a fifty day simple moving average of $139.63 and a 200-day simple moving average of $127.32.
NVIDIA (NASDAQ:NVDA - Get Free Report) last posted 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. The firm 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 business's revenue for the quarter was up 93.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 EPS. On average, research 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 stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.
NVIDIA Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is presently 1.57%.
Analysts Set New Price Targets
Several equities research analysts have issued reports on NVDA shares. Westpark Capital lifted their price target on shares of NVIDIA from $127.50 to $165.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. Truist Financial lifted their target price on NVIDIA from $148.00 to $167.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. Oppenheimer reissued an "outperform" rating and set a $175.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Raymond James boosted their price target on NVIDIA from $140.00 to $170.00 and gave the stock a "strong-buy" rating in a research report on Thursday, November 14th. Finally, Susquehanna raised their target price on shares of NVIDIA from $160.00 to $180.00 and gave the company a "positive" rating in a research note on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $164.15.
Get Our Latest Analysis on NVDA
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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