Etfidea LLC Raises Stake in NVIDIA Co. (NASDAQ:NVDA)

Etfidea LLC lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,731 shares of the computer hardware maker’s stock after purchasing an additional 160 shares during the period. Etfidea LLC’s holdings in NVIDIA were worth $817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of NVDA. Legal & General Group Plc raised 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 valued at $26,329,751,000 after purchasing an additional 191,469,114 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of 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 worth $22,561,200,000 after purchasing an additional 163,482,580 shares during the period. 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 acquiring an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of NVIDIA by 1,123.2% during the second 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 raised its holdings in shares of NVIDIA by 808.6% in the second 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 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

A number of equities research analysts recently weighed in on NVDA shares. Melius Research lifted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Evercore ISI upped their price objective on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Phillip Securities reaffirmed an “accumulate” rating and set a $160.00 price objective (up previously from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Barclays raised their price objective on NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, The Goldman Sachs Group boosted their price target on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Four equities research 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $164.15.

Insider Activity

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the sale, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. The trade was a 1.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the sale, the insider now owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,226,886 shares of company stock worth $161,499,400. 4.23% of the stock is currently owned by company insiders.

NVIDIA Trading Up 3.4 %

Shares of NVDA stock opened at $149.43 on Tuesday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.66 trillion, a price-to-earnings ratio of 58.81, a PEG ratio of 2.43 and a beta of 1.64. The company’s 50-day moving average price is $139.75 and its 200-day moving average price is $128.28. NVIDIA Co. has a twelve month low of $49.48 and a twelve month high of $152.89.

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, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the previous year, the firm earned $0.38 EPS. The business’s revenue was up 93.6% on a year-over-year basis. As a group, equities analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

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

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.