NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Maple Capital Management Inc.

Maple Capital Management Inc. boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 1.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 722,223 shares of the computer hardware maker’s stock after buying an additional 7,453 shares during the quarter. NVIDIA accounts for approximately 6.7% of Maple Capital Management Inc.’s holdings, making the stock its 3rd biggest holding. Maple Capital Management Inc.’s holdings in NVIDIA were worth $87,707,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in shares of NVIDIA by 884.0% during 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 last quarter. Bank of New York Mellon Corp grew its stake in NVIDIA by 854.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. increased its holdings 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 worth $12,658,922,000 after purchasing an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in 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 purchasing an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of NVIDIA by 808.6% in the 2nd 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 purchasing an additional 73,589,208 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on NVDA shares. Sanford C. Bernstein increased their price objective on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. UBS Group increased their target price on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. HSBC lifted their target price on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Wells Fargo & Company upped their price target on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, Raymond James lifted their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Down 1.2 %

Shares of NVDA stock opened at $135.34 on Friday. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $152.89. 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 business’s fifty day moving average is $135.61 and its 200-day moving average is $123.34. The stock has a market cap of $3.31 trillion, a PE ratio of 53.28, a price-to-earnings-growth ratio of 2.46 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its 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 return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter last year, the business posted $0.38 earnings per share. The company’s quarterly revenue was up 93.6% on a year-over-year basis. Equities analysts expect that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

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 of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.57%.

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

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the completion of the sale, the chief executive officer now directly owns 75,895,836 shares of the company’s stock, valued at $7,994,108,405.88. This represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares in the company, valued at $2,831,764. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,036,986 shares of company stock valued at $240,602,399 over the last ninety days. Insiders own 4.23% of the company’s stock.

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.