Smart Portfolios LLC Purchases 75 Shares of NVIDIA Co. (NASDAQ:NVDA)

Smart Portfolios LLC boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,805 shares of the computer hardware maker’s stock after acquiring an additional 75 shares during the quarter. Smart Portfolios LLC’s holdings in NVIDIA were worth $341,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc grew its stake in shares of NVIDIA by 884.0% in 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 purchasing an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in NVIDIA by 854.1% in 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 buying an additional 163,482,580 shares during the period. Ameriprise Financial Inc. grew its position in shares of NVIDIA by 870.3% in 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 buying an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of NVIDIA by 1,123.2% during the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after buying an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of 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 valued at $10,215,474,000 after acquiring an additional 73,589,208 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on NVDA. UBS Group lifted their price target on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Needham & Company LLC lifted their target price on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft increased their price target on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. Piper Sandler lifted their price objective on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Finally, Susquehanna increased their target price on NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Four investment 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

Insider Activity

In other NVIDIA news, Director John Dabiri sold 716 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was 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 owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. The trade was 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 the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their position. 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 90 days. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 3.1 %

NVIDIA stock opened at $134.70 on Friday. NVIDIA Co. has a one year low of $47.32 and a one year high of $152.89. The stock has a fifty day moving average of $139.63 and a 200 day moving average of $127.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market cap 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 released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned $0.38 EPS. As a group, sell-side analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

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

NVIDIA announced that its Board of Directors has initiated a share buyback program 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 programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.