Haverford Financial Services Inc. Boosts Holdings in NVIDIA Co. (NASDAQ:NVDA)

Haverford Financial Services Inc. lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 3.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,509 shares of the computer hardware maker’s stock after buying an additional 1,075 shares during the period. Haverford Financial Services Inc.’s holdings in NVIDIA were worth $3,584,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Legal & General Group Plc boosted its stake 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 worth $26,329,751,000 after purchasing an additional 191,469,114 shares during the period. Bank of New York Mellon Corp increased its stake 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 valued at $22,561,200,000 after buying an additional 163,482,580 shares during the period. Ameriprise Financial Inc. increased its stake in NVIDIA by 870.3% in 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 buying an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP increased its stake in 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 buying an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake 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 valued at $10,215,474,000 after buying an additional 73,589,208 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was 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 owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This trade represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, 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 sold 1,628,156 shares of company stock valued at $197,995,077 over the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Trading Down 2.2 %

Shares of NVDA stock opened at $134.25 on Friday. The stock has a 50-day simple moving average of $139.76 and a 200 day simple moving average of $126.60. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. The stock has a market capitalization of $3.29 trillion, a P/E ratio of 52.85, a P/E/G ratio of 2.52 and a beta of 1.63. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

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. On average, sell-side analysts expect that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA declared that its board has authorized a share buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

Analysts Set New Price Targets

A number of equities research analysts have commented on NVDA shares. Melius Research raised their target price on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Evercore ISI raised their target price on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Redburn Atlantic started coverage on NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price for the company. Piper Sandler raised their target price on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Finally, Barclays raised their target price on NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

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.