International Assets Investment Management LLC Raises Position in NVIDIA Co. (NASDAQ:NVDA)

International Assets Investment Management LLC raised its position in NVIDIA Co. (NASDAQ:NVDA) by 12,898.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 56,292,986 shares of the computer hardware maker’s stock after buying an additional 55,859,917 shares during the period. NVIDIA comprises about 0.9% of International Assets Investment Management LLC’s portfolio, making the stock its 16th largest holding. International Assets Investment Management LLC’s holdings in NVIDIA were worth $6,836,220,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. boosted its position in NVIDIA by 897.5% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after acquiring an additional 107,169 shares during the last quarter. Truepoint Inc. boosted its holdings in shares of NVIDIA by 914.1% during the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after purchasing an additional 11,709 shares during the last quarter. Westwood Holdings Group Inc. grew its position in shares of NVIDIA by 683.9% in the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after purchasing an additional 208,362 shares in the last quarter. Narwhal Capital Management increased its holdings in shares of NVIDIA by 5.1% in the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock valued at $66,267,000 after purchasing an additional 26,373 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in 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. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NVDA has been the subject of a number of recent research reports. HSBC raised their target price on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Loop Capital restated a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Wednesday, November 20th. Needham & Company LLC boosted their target price on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Susquehanna raised their price target on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Finally, Melius Research lifted their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Four 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 company. According to MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Stock Up 2.2 %

Shares of NASDAQ:NVDA opened at $138.25 on Monday. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $152.89. The firm’s 50 day moving average price is $136.05 and its 200 day moving average price is $124.11. 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 stock has a market cap of $3.39 trillion, a price-to-earnings ratio of 54.43, a price-to-earnings-growth ratio of 2.50 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released 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. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS. As a group, equities research analysts predict that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued 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 dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.57%.

NVIDIA announced that its board has authorized a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at NVIDIA

In related news, Director John Dabiri sold 716 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total transaction 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. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,036,986 shares of company stock valued at $240,602,399. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Profile

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.