M&G Plc Acquires 135,980 Shares of NVIDIA Co. (NASDAQ:NVDA)

M&G Plc lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 54.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 385,559 shares of the computer hardware maker’s stock after acquiring an additional 135,980 shares during the period. M&G Plc’s holdings in NVIDIA were worth $46,653,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in NVDA. D.B. Root & Company LLC grew its position in NVIDIA by 1.4% in the third quarter. D.B. Root & Company LLC now owns 26,706 shares of the computer hardware maker’s stock valued at $3,243,000 after acquiring an additional 362 shares during the period. Dechtman Wealth Management LLC grew its holdings in shares of NVIDIA by 3.7% in the 3rd quarter. Dechtman Wealth Management LLC now owns 25,748 shares of the computer hardware maker’s stock worth $3,127,000 after purchasing an additional 927 shares during the last quarter. Smart Portfolios LLC increased its position in shares of NVIDIA by 2.7% during the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after purchasing an additional 75 shares in the last quarter. American Capital Advisory LLC lifted its holdings in NVIDIA by 759.6% during the 3rd quarter. American Capital Advisory LLC now owns 12,240 shares of the computer hardware maker’s stock valued at $1,486,000 after purchasing an additional 10,816 shares during the last quarter. Finally, Consilium Wealth Advisory LLC boosted its position in NVIDIA by 2.8% in the third quarter. Consilium Wealth Advisory LLC now owns 87,338 shares of the computer hardware maker’s stock valued at $10,606,000 after buying an additional 2,414 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Performance

Shares of NVDA stock opened at $134.70 on Friday. The company has a market capitalization of $3.30 trillion, a P/E ratio of 53.01, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 52 week low of $47.32 and a 52 week high of $152.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company’s 50 day moving average price is $139.63 and its two-hundred day moving average price is $127.25.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for 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 firm’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period last year, the business posted $0.38 earnings per share. On average, analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

NVIDIA declared that its Board of Directors has authorized a stock buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVDA. Evercore ISI raised their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Loop Capital reiterated a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Wednesday, November 20th. Raymond James increased their target price on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft lifted their price target on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Finally, Piper Sandler increased their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Four equities 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 165,100 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the completion of the transaction, the director now directly owns 8,420,117 shares of the company’s stock, valued at approximately $1,021,107,588.59. This trade represents a 1.92 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,556,986 shares of company stock valued at $201,687,727. 4.23% of the stock is owned by insiders.

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.