NVIDIA Co. (NASDAQ:NVDA) is Morse Asset Management Inc’s 2nd Largest Position

Morse Asset Management Inc boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 0.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 202,054 shares of the computer hardware maker’s stock after buying an additional 1,374 shares during the period. NVIDIA accounts for approximately 5.3% of Morse Asset Management Inc’s holdings, making the stock its 2nd biggest position. Morse Asset Management Inc’s holdings in NVIDIA were worth $24,537,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of NVDA. Geode Capital Management LLC lifted its holdings in shares of NVIDIA by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock valued at $66,101,133,000 after acquiring an additional 11,525,969 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of NVIDIA by 884.0% in 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 acquiring an additional 191,469,114 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of NVIDIA by 3.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock valued at $21,908,236,000 after acquiring an additional 6,526,200 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of NVIDIA by 1.4% in 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 acquiring an additional 2,042,348 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of NVIDIA by 870.3% in 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 during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $147.07 on Thursday. The company has a fifty day moving average price of $138.69 and a 200 day moving average price of $129.22. NVIDIA Co. has a 1-year low of $58.58 and a 1-year high of $153.13. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.60 trillion, a PE ratio of 57.88, a PEG ratio of 2.48 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.38 EPS. Research analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Redburn Atlantic assumed coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price objective for the company. Wedbush raised their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Phillip Securities reaffirmed an “accumulate” rating and set a $160.00 target price (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Loop Capital reaffirmed a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research report on Wednesday, November 20th. Finally, Truist Financial raised their target price on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $164.63.

Insider Transactions at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred 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 completion of the sale, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the sale, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Company insiders own 4.23% of the company’s stock.

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.