NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Grimes & Company Inc.

Grimes & Company Inc. increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 20.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,392 shares of the computer hardware maker’s stock after buying an additional 19,884 shares during the quarter. Grimes & Company Inc.’s holdings in NVIDIA were worth $14,135,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc increased its stake in shares of NVIDIA by 884.0% during the second 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 grew its position in 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 purchasing an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. grew 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 valued at $12,658,922,000 after acquiring an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in 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 buying an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in 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 valued at $10,215,474,000 after purchasing an additional 73,589,208 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $138.63 on Tuesday. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $152.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The business has a 50-day moving average of $136.05 and a 200-day moving average of $124.11. The stock has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 54.58, a PEG ratio of 2.50 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same period last year, the business posted $0.38 earnings per share. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, sell-side analysts predict that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA announced that its board has authorized a share repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $105.33, for a total value of $12,639,600.00. Following the completion of the sale, the chief executive officer now directly owns 75,895,836 shares in the company, valued at $7,994,108,405.88. This represents a 0.16 % 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, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,916,986 shares of company stock valued at $227,311,199. 4.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. William Blair initiated coverage on shares of NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Phillip Securities restated an “accumulate” rating and issued a $160.00 price objective (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Benchmark lifted their price objective on NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Oppenheimer restated an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Finally, HSBC increased their price objective on NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

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.