Fortis Capital Management LLC boosted its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 8.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,652 shares of the computer hardware maker’s stock after purchasing an additional 8,846 shares during the period. NVIDIA comprises approximately 2.8% of Fortis Capital Management LLC’s investment portfolio, making the stock its 4th biggest position. Fortis Capital Management LLC’s holdings in NVIDIA were worth $13,680,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of NVDA. Freemont Management S.A. raised its holdings in NVIDIA by 4.2% during the 3rd quarter. Freemont Management S.A. now owns 111,500 shares of the computer hardware maker’s stock worth $13,541,000 after purchasing an additional 4,500 shares during the last quarter. Plato Investment Management Ltd raised its stake in NVIDIA by 1.4% during the third quarter. Plato Investment Management Ltd now owns 605,130 shares of the computer hardware maker’s stock worth $73,413,000 after buying an additional 8,497 shares during the last quarter. Firetrail Investments PTY Ltd. acquired a new position in NVIDIA in the third quarter valued at $20,120,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund boosted its position in NVIDIA by 14.3% during the third quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 403,447 shares of the computer hardware maker’s stock valued at $48,995,000 after acquiring an additional 50,607 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. grew its holdings in NVIDIA by 11.9% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 44,610 shares of the computer hardware maker’s stock worth $5,417,000 after acquiring an additional 4,760 shares during the period. 65.27% of the stock is owned by institutional investors.
NVIDIA Stock Performance
NVDA stock opened at $137.49 on Tuesday. NVIDIA Co. has a twelve month low of $47.32 and a twelve month high of $152.89. The firm has a market cap of $3.37 trillion, a price-to-earnings ratio of 54.11, a PEG ratio of 2.43 and a beta of 1.63. The business’s fifty day simple moving average is $139.84 and its two-hundred day simple moving average is $128.03. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.
NVIDIA Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on NVDA shares. Citigroup increased their price target on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Robert W. Baird increased their target price on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Loop Capital reaffirmed a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Wednesday, November 20th. TD Cowen increased their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Bank of America reaffirmed a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $164.15.
Read Our Latest Research Report on NVIDIA
Insiders Place Their Bets
In other 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 value of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 1,351,886 shares of company stock valued at $176,825,650. Insiders own 4.23% of the company’s stock.
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.
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