New Perspectives Inc Grows Holdings in NVIDIA Co. (NASDAQ:NVDA)

New Perspectives Inc lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 57.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,773 shares of the computer hardware maker’s stock after purchasing an additional 1,013 shares during the period. NVIDIA comprises about 0.2% of New Perspectives Inc’s investment portfolio, making the stock its 23rd biggest holding. New Perspectives Inc’s holdings in NVIDIA were worth $372,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in NVIDIA by 2.2% in the third quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock worth $66,101,133,000 after buying an additional 11,525,969 shares during the period. Legal & General Group Plc boosted its stake 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 worth $26,329,751,000 after acquiring an additional 191,469,114 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of NVIDIA by 3.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock worth $21,908,236,000 after buying an additional 6,526,200 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 purchasing an additional 2,042,348 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after purchasing an additional 91,867,031 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Dabiri sold 716 shares of the business’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 transaction of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares in the company, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock valued at $146,506,958 over the last quarter. 4.23% of the stock is owned by corporate insiders.

NVIDIA Stock Performance

NVDA opened at $140.11 on Friday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.14, a PEG ratio of 1.75 and a beta of 1.62. NVIDIA Co. has a 12-month low of $66.25 and a 12-month high of $153.13. The business has a 50 day moving average of $134.66 and a 200-day moving average of $130.91.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping 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 period last year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. On average, equities research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

Analyst Ratings Changes

NVDA has been the topic of several recent research reports. Raymond James raised their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. Citigroup boosted their price target on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Stifel Nicolaus raised their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Melius Research upped their price target on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Four research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $168.21.

NVIDIA Company 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.