Edgewood Management LLC Has $2.05 Billion Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Edgewood Management LLC grew its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,886,613 shares of the computer hardware maker’s stock after buying an additional 1,207,534 shares during the period. NVIDIA makes up 5.5% of Edgewood Management LLC’s holdings, making the stock its 5th biggest position. Edgewood Management LLC owned 0.07% of NVIDIA worth $2,050,710,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Legal & General Group Plc lifted its position in shares of 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 position in shares of 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 worth $22,561,200,000 after acquiring an additional 163,482,580 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in NVIDIA by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock valued at $17,738,630,000 after acquiring an additional 2,042,348 shares during the last quarter. Ameriprise Financial Inc. boosted 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 valued at $12,658,922,000 after purchasing an additional 91,867,031 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of 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 purchasing an additional 84,515,429 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction that occurred 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 directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,071,886 shares of company stock valued at $140,997,550. 4.23% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on NVDA. HSBC raised their price objective on NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Redburn Atlantic assumed coverage on shares of NVIDIA in a report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price target for the company. Melius Research raised their price objective on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Monday, November 18th. Finally, Raymond James lifted their target price on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Performance

NVDA opened at $140.14 on Wednesday. The company has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.15, a PEG ratio of 2.43 and a beta of 1.64. The company’s fifty day moving average price is $139.72 and its two-hundred day moving average price is $128.37. NVIDIA Co. has a 1-year low of $49.48 and a 1-year high of $153.13. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly 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. The business had revenue of $35.08 billion for 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 for the quarter was up 93.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 EPS. On average, analysts expect that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) 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.