Glenmede Trust Co. NA Purchases 94,091 Shares of NVIDIA Co. (NASDAQ:NVDA)

Glenmede Trust Co. NA lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 7.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,325,358 shares of the computer hardware maker’s stock after buying an additional 94,091 shares during the period. NVIDIA comprises about 0.8% of Glenmede Trust Co. NA’s investment portfolio, making the stock its 23rd biggest position. Glenmede Trust Co. NA’s holdings in NVIDIA were worth $160,951,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NVDA. Legal & General Group Plc raised its stake in 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 valued at $26,329,751,000 after purchasing an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of 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 last quarter. Ameriprise Financial Inc. raised its position in shares of NVIDIA by 870.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after buying an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of NVIDIA by 1,123.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after acquiring an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in NVIDIA by 808.6% in 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 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.

Insider Buying and Selling

In other NVIDIA news, Director John Dabiri sold 716 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This represents 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 worth $146,506,958 in the last quarter. Corporate insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price target on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Loop Capital restated a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Wednesday, November 20th. Robert W. Baird upped their target price on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Redburn Atlantic started coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 price target on the stock. Finally, Piper Sandler upped their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $164.63.

NVIDIA Trading Down 3.0 %

Shares of NASDAQ NVDA opened at $135.91 on Monday. The stock has a market cap of $3.33 trillion, a P/E ratio of 53.49, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. 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 1 year low of $53.56 and a 1 year high of $153.13. The firm has a 50-day moving average of $139.90 and a 200 day moving average of $128.70.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 EPS. As a group, sell-side analysts expect that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio is presently 1.57%.

NVIDIA Company 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.