Geode Capital Management LLC Raises Holdings in NVIDIA Co. (NASDAQ:NVDA)

Geode Capital Management LLC grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 2.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 546,079,492 shares of the computer hardware maker’s stock after purchasing an additional 11,525,969 shares during the period. NVIDIA makes up about 5.4% of Geode Capital Management LLC’s portfolio, making the stock its 3rd biggest position. Geode Capital Management LLC owned about 2.23% of NVIDIA worth $66,101,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quest Partners LLC purchased a new position in shares of NVIDIA during the second quarter valued at approximately $27,000. Christopher J. Hasenberg Inc purchased a new position in NVIDIA during the 3rd quarter valued at $27,000. University of Texas Texas AM Investment Management Co. bought a new position in NVIDIA in the 2nd quarter valued at $31,000. West Financial Advisors LLC purchased a new stake in NVIDIA in the third quarter worth $36,000. Finally, DHJJ Financial Advisors Ltd. lifted its position in shares of NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $137.71 on Tuesday. 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 fifty day moving average of $138.99 and a 200 day moving average of $129.05. The firm has a market capitalization of $3.37 trillion, a price-to-earnings ratio of 54.20, a price-to-earnings-growth ratio of 2.45 and a beta of 1.64. NVIDIA Co. has a 1 year low of $56.11 and a 1 year high of $153.13.

NVIDIA (NASDAQ:NVDA) last released its earnings results 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. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue was up 93.6% compared to the same quarter last year. As a group, research analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were paid a $0.01 dividend. The ex-dividend date was 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 currently 1.57%.

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction that occurred 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 directly owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % 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 90 days. Insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the topic of a number of research analyst reports. Piper Sandler upped their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Wells Fargo & Company raised their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Needham & Company LLC boosted their price target on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. DA Davidson raised their price objective on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Truist Financial upped their target price on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Four equities 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.63.

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.