Eagle Asset Management Inc. lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 8.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 821,544 shares of the computer hardware maker’s stock after purchasing an additional 63,039 shares during the quarter. Eagle Asset Management Inc.’s holdings in NVIDIA were worth $99,768,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Legal & General Group Plc increased its holdings 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 valued at $26,329,751,000 after purchasing an additional 191,469,114 shares during the period. Bank of New York Mellon Corp increased 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. Charles Schwab Investment Management Inc. raised its position in NVIDIA by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock worth $17,738,630,000 after buying an additional 2,042,348 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in 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 acquiring an additional 91,867,031 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of NVIDIA by 1,123.2% in the 2nd 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 acquiring an additional 84,515,429 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at NVIDIA
In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the sale, the insider now owns 480,899 shares in the company, valued at $65,056,016.72. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $101,672.00. Following the transaction, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,071,886 shares of company stock worth $140,997,550. Insiders own 4.23% of the company’s stock.
NVIDIA Stock Performance
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share 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 firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the company posted $0.38 EPS. The company’s revenue was up 93.6% compared to the same quarter last year. On average, research analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current year.
NVIDIA Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were given 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 was Thursday, December 5th. NVIDIA’s payout ratio is presently 1.57%.
Wall Street Analysts Forecast Growth
NVDA has been the subject of a number of research reports. Morgan Stanley boosted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Wedbush upped their target price on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Wells Fargo & Company boosted their price target on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Phillip Securities reaffirmed an “accumulate” rating and set a $160.00 price objective (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Finally, DA Davidson boosted their target price on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $164.15.
Check Out Our Latest Report on NVIDIA
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.
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