NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Hancock Whitney Corp

Hancock Whitney Corp lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 20.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 744,820 shares of the computer hardware maker’s stock after purchasing an additional 128,673 shares during the quarter. NVIDIA comprises about 2.9% of Hancock Whitney Corp’s holdings, making the stock its 5th largest holding. Hancock Whitney Corp’s holdings in NVIDIA were worth $90,451,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Legal & General Group Plc grew its position 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 worth $26,329,751,000 after acquiring an additional 191,469,114 shares during the period. Bank of New York Mellon Corp grew its position in NVIDIA by 854.1% in the second 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 acquiring an additional 163,482,580 shares during the period. Charles Schwab Investment Management Inc. grew its position in NVIDIA by 1.4% in the third 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 acquiring an additional 2,042,348 shares during the period. Ameriprise Financial Inc. grew its position in NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after acquiring an additional 91,867,031 shares during the period. Finally, Fisher Asset Management LLC grew its position in NVIDIA by 3.5% in the third quarter. Fisher Asset Management LLC now owns 96,720,707 shares of the computer hardware maker’s stock worth $11,745,763,000 after acquiring an additional 3,283,380 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling

In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now directly owns 3,902,888 shares in the company, 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 valued at $146,506,958 over the last quarter. 4.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NVDA has been the subject of several research analyst reports. Evercore ISI raised their price target on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Benchmark restated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research report on Tuesday. Mizuho raised their price target on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. William Blair initiated coverage on NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Finally, UBS Group raised their price target on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.63.

NVIDIA Stock Down 3.0 %

NVDA opened at $135.91 on Friday. The business’s 50-day simple moving average is $139.90 and its 200-day simple moving average is $128.66. 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 one year low of $53.56 and a one year high of $153.13. The stock has a market capitalization 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.

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

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

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.