International Assets Investment Management LLC Grows Holdings in NVIDIA Co. (NASDAQ:NVDA)

International Assets Investment Management LLC grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 12,898.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,292,986 shares of the computer hardware maker’s stock after purchasing an additional 55,859,917 shares during the quarter. NVIDIA makes up approximately 0.9% of International Assets Investment Management LLC’s investment portfolio, making the stock its 16th largest position. International Assets Investment Management LLC owned approximately 0.23% of NVIDIA worth $6,836,220,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Legal & General Group Plc grew 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 worth $26,329,751,000 after purchasing an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp raised its position 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. lifted its holdings 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 period. Dimensional Fund Advisors LP grew its position 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 buying an additional 84,515,429 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake 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 buying an additional 73,589,208 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NVDA has been the topic of several recent research reports. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 target price on shares of NVIDIA in a report on Monday, November 18th. Wells Fargo & Company increased their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. UBS Group boosted their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Bank of America reaffirmed a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Craig Hallum boosted their price target on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Activity at NVIDIA

In other NVIDIA news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction on Monday, November 25th. The shares were 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 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This trade represents a 1.33 % 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 worth $240,602,399 in the last three months. Company insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NASDAQ:NVDA opened at $138.25 on Monday. The firm’s fifty day moving average is $136.05 and its two-hundred day moving average is $124.11. The firm has a market cap of $3.39 trillion, a price-to-earnings ratio of 54.43, a PEG ratio of 2.50 and a beta of 1.66. 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 $45.01 and a one year high of $152.89.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The firm 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 company’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 earnings per share. Research analysts expect that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued 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 (DPR) is 1.57%.

NVIDIA announced that its board has approved a share buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.