Itau Unibanco Holding S.A. Increases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Itau Unibanco Holding S.A. boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 162.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 367,368 shares of the computer hardware maker’s stock after acquiring an additional 227,571 shares during the period. NVIDIA accounts for 1.5% of Itau Unibanco Holding S.A.’s investment portfolio, making the stock its 21st biggest position. Itau Unibanco Holding S.A.’s holdings in NVIDIA were worth $44,613,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Christopher J. Hasenberg Inc purchased a new position in NVIDIA during the 3rd quarter valued at about $27,000. Quest Partners LLC bought a new stake in shares of NVIDIA in the 2nd quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of NVIDIA during the second quarter valued at approximately $31,000. West Financial Advisors LLC bought a new position in shares of NVIDIA during the third quarter valued at approximately $36,000. Finally, DHJJ Financial Advisors Ltd. raised its holdings in shares of NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after acquiring an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 2.0 %

Shares of NASDAQ:NVDA opened at $133.57 on Friday. NVIDIA Co. has a 12-month low of $54.74 and a 12-month high of $153.13. The company has a market cap of $3.27 trillion, a PE ratio of 52.57, a price-to-earnings-growth ratio of 2.45 and a beta of 1.64. The stock has a 50 day moving average of $139.49 and a 200 day moving average of $128.87. 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 posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue was up 93.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.38 earnings per share. As a group, equities research analysts expect that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.01 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.57%.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. The Goldman Sachs Group boosted their price target on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Raymond James raised their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 14th. Loop Capital reiterated a “buy” rating and set a $175.00 target price on shares of NVIDIA in a report on Wednesday, November 20th. Finally, Piper Sandler raised 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. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $164.27.

Insider Activity

In related news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on 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 sale, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was 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 $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock worth $146,506,958 over the last ninety days. Corporate insiders own 4.23% of the company’s stock.

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.