Cerity Partners LLC Has $1.09 Billion Position in NVIDIA Co. (NASDAQ:NVDA)

Cerity Partners LLC raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 21.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,994,223 shares of the computer hardware maker’s stock after purchasing an additional 1,564,194 shares during the quarter. NVIDIA accounts for about 2.4% of Cerity Partners LLC’s portfolio, making the stock its 6th largest position. Cerity Partners LLC’s holdings in NVIDIA were worth $1,088,186,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Legal & General Group Plc lifted its holdings 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 valued at $26,329,751,000 after buying an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp increased 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 valued at $22,561,200,000 after purchasing an additional 163,482,580 shares during the period. Charles Schwab Investment Management Inc. increased its position in NVIDIA by 1.4% during the 3rd 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 during the period. Ameriprise Financial Inc. increased its position 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 purchasing an additional 91,867,031 shares during the period. Finally, Dimensional Fund Advisors LP increased its position 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 valued at $11,371,255,000 after purchasing an additional 84,515,429 shares during the period. Institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. HSBC raised their target price on shares of NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. TD Cowen raised their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Evercore ISI raised their target price on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Needham & Company LLC lifted their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, UBS Group lifted their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Four 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.63.

NVIDIA Stock Performance

NVDA opened at $140.11 on Thursday. 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 firm has a fifty day moving average price of $139.74 and a 200 day moving average price of $128.46. NVIDIA Co. has a 1 year low of $51.69 and a 1 year high of $153.13. The stock has a market cap of $3.43 trillion, a P/E ratio of 55.14, a P/E/G ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $33.15 billion. During the same period in the previous year, the business posted $0.38 EPS. The business’s revenue was up 93.6% compared to the same quarter last year. Equities research analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s payout ratio is presently 1.57%.

Insider Buying and Selling

In related news, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction on Monday, January 6th. The shares were 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 owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is owned by corporate insiders.

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.