Principal Financial Group Inc. Acquires 1,285,897 Shares of NVIDIA Co. (NASDAQ:NVDA)

Principal Financial Group Inc. grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 3.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,627,274 shares of the computer hardware maker’s stock after purchasing an additional 1,285,897 shares during the period. NVIDIA makes up 2.4% of Principal Financial Group Inc.’s investment portfolio, making the stock its 3rd largest position. Principal Financial Group Inc. owned 0.15% of NVIDIA worth $4,326,576,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Legal & General Group Plc lifted 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 acquiring an additional 191,469,114 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in NVIDIA by 870.3% during 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake 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 worth $11,371,255,000 after acquiring an additional 84,515,429 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in NVIDIA by 808.6% during 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 in the last quarter. Finally, American Century Companies Inc. lifted its stake in NVIDIA by 882.4% during the 2nd quarter. American Century Companies Inc. now owns 73,648,364 shares of the computer hardware maker’s stock worth $9,098,519,000 after acquiring an additional 66,151,750 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value 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 $453,802,848.80. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock valued at $146,506,958 in the last three months. 4.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NVDA has been the topic of several research reports. Benchmark reissued a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research note on Tuesday, January 7th. Wedbush increased their price target on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Barclays increased their price target on NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Truist Financial increased their price target on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, Phillip Securities reaffirmed an “accumulate” rating and issued a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Four 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 stock. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $164.63.

NVIDIA Stock Up 0.1 %

NASDAQ:NVDA opened at $147.22 on Friday. The firm has a market capitalization of $3.61 trillion, a PE ratio of 57.94, a price-to-earnings-growth ratio of 2.54 and a beta of 1.64. The stock has a 50 day moving average of $138.70 and a 200-day moving average of $129.34. NVIDIA Co. has a 52 week low of $59.94 and a 52 week 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 posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS 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 company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the prior year, the company earned $0.38 earnings per share. The business’s revenue was up 93.6% compared to the same quarter last year. Analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

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