HM Payson & Co. Raises Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

HM Payson & Co. grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,520,533 shares of the computer hardware maker’s stock after acquiring an additional 28,765 shares during the quarter. NVIDIA accounts for approximately 3.2% of HM Payson & Co.’s holdings, making the stock its 5th biggest holding. HM Payson & Co.’s holdings in NVIDIA were worth $184,654,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Legal & General Group Plc boosted its holdings in NVIDIA by 884.0% during the 2nd 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 acquiring an additional 191,469,114 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of NVIDIA by 854.1% during the second 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 during the period. Ameriprise Financial Inc. grew its holdings in shares of 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 purchasing an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP raised 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 valued at $11,371,255,000 after buying an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in 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 worth $10,215,474,000 after acquiring an additional 73,589,208 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on NVDA. Redburn Atlantic started coverage on NVIDIA in a research note on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price on the stock. Piper Sandler boosted their target price on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. UBS Group raised their price target on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Benchmark lifted their price target on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a research report on Monday, November 18th. Four 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 data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,556,986 shares of company stock valued at $188,359,199 over the last quarter. 4.23% of the stock is currently owned by company insiders.

NVIDIA Trading Down 1.4 %

Shares of NASDAQ:NVDA opened at $137.34 on Friday. The stock’s 50-day simple moving average is $139.28 and its two-hundred day simple moving average is $126.33. NVIDIA Co. has a 52-week low of $47.32 and a 52-week 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 stock has a market capitalization of $3.36 trillion, a price-to-earnings ratio of 54.07, a PEG ratio of 2.58 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue was up 93.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.38 earnings per share. Analysts expect that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio is presently 1.57%.

NVIDIA announced that its board has initiated a stock repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.