M&G Plc Has $46.65 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

M&G Plc boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 54.5% during the third quarter, Holdings Channel reports. The fund owned 385,559 shares of the computer hardware maker’s stock after purchasing an additional 135,980 shares during the period. M&G Plc’s holdings in NVIDIA were worth $46,653,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of NVDA. D.B. Root & Company LLC increased its position in NVIDIA by 1.4% during the 3rd quarter. D.B. Root & Company LLC now owns 26,706 shares of the computer hardware maker’s stock worth $3,243,000 after buying an additional 362 shares during the period. Dechtman Wealth Management LLC raised its stake in NVIDIA by 3.7% in the third quarter. Dechtman Wealth Management LLC now owns 25,748 shares of the computer hardware maker’s stock valued at $3,127,000 after purchasing an additional 927 shares in the last quarter. Smart Portfolios LLC raised its position in shares of NVIDIA by 2.7% in the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after buying an additional 75 shares in the last quarter. American Capital Advisory LLC boosted its position in shares of NVIDIA by 759.6% during the 3rd quarter. American Capital Advisory LLC now owns 12,240 shares of the computer hardware maker’s stock worth $1,486,000 after acquiring an additional 10,816 shares in the last quarter. Finally, Consilium Wealth Advisory LLC boosted its holdings in shares of NVIDIA by 2.8% in the 3rd quarter. Consilium Wealth Advisory LLC now owns 87,338 shares of the computer hardware maker’s stock valued at $10,606,000 after purchasing an additional 2,414 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Trading Up 3.1 %

Shares of NVIDIA stock opened at $134.70 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a 52 week low of $47.32 and a 52 week high of $152.89. The stock has a 50 day moving average price of $139.63 and a two-hundred day moving average price of $127.25. The stock has a market capitalization of $3.30 trillion, a PE ratio of 53.01, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter last year, the firm posted $0.38 EPS. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. As a group, equities analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has approved 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 buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued a $0.01 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.57%.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the sale, the chief financial officer now owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 165,100 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total value of $20,021,677.00. Following the transaction, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 1,556,986 shares of company stock valued at $201,687,727. 4.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on NVDA. Melius Research upped their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft increased their target price on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. boosted their price target on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Needham & Company LLC upped their price objective on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Wells Fargo & Company lifted their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Four investment 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, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

About NVIDIA

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.