River & Mercantile Asset Management LLP Acquires New Shares in NVIDIA Co. (NASDAQ:NVDA)

Posted by on Mar 16th, 2023

River & Mercantile Asset Management LLP bought a new stake in NVIDIA Co. (NASDAQ:NVDA – Get Rating) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 8,610 shares of the computer hardware maker’s stock, valued at approximately $1,046,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NVDA. Fisher Asset Management LLC grew its stake in NVIDIA by 59.5% in the third quarter. Fisher Asset Management LLC now owns 12,107,130 shares of the computer hardware maker’s stock valued at $1,469,685,000 after purchasing an additional 4,515,944 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in NVIDIA by 7.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 56,929,819 shares of the computer hardware maker’s stock valued at $8,629,991,000 after purchasing an additional 3,813,087 shares during the last quarter. Coatue Management LLC grew its stake in NVIDIA by 6,749.0% in the third quarter. Coatue Management LLC now owns 3,384,288 shares of the computer hardware maker’s stock valued at $410,818,000 after purchasing an additional 3,334,875 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in NVIDIA in the third quarter valued at about $285,893,000. Finally, Vanguard Group Inc. grew its stake in shares of NVIDIA by 1.2% during the third quarter. Vanguard Group Inc. now owns 203,747,246 shares of the computer hardware maker’s stock worth $24,732,878,000 after acquiring an additional 2,326,387 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

NVIDIA Trading Up 0.7 %

Shares of NVDA stock opened at $242.28 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.52 and a quick ratio of 2.73. The company has a market cap of $598.43 billion, a price-to-earnings ratio of 139.24, a PEG ratio of 4.08 and a beta of 1.76. The stock has a 50 day simple moving average of $206.42 and a 200-day simple moving average of $165.60. NVIDIA Co. has a 1-year low of $108.13 and a 1-year high of $289.46.

NVIDIA (NASDAQ:NVDA – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The computer hardware maker reported $0.88 EPS for the quarter, beating the consensus estimate of $0.81 by $0.07. NVIDIA had a return on equity of 26.61% and a net margin of 16.19%. The firm had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the prior year, the company earned $1.14 EPS. The firm’s revenue was down 20.8% compared to the same quarter last year. On average, equities research analysts expect that NVIDIA Co. will post 3.21 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 29th. Investors of record on Wednesday, March 8th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.07%. The ex-dividend date is Tuesday, March 7th. NVIDIA’s dividend payout ratio is currently 9.20%.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on NVIDIA from $170.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, February 23rd. Cowen boosted their price target on NVIDIA from $200.00 to $220.00 in a research note on Monday, December 12th. Rosenblatt Securities restated a “buy” rating and set a $320.00 price target on shares of NVIDIA in a research note on Thursday, February 23rd. Credit Suisse Group set a $275.00 price target on NVIDIA in a research note on Thursday, March 2nd. Finally, Piper Sandler boosted their price target on NVIDIA from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 22nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $242.14.

Insider Activity at NVIDIA

In related news, EVP Debora Shoquist sold 23,532 shares of the stock in a transaction on Friday, January 27th. The stock was sold at an average price of $205.00, for a total value of $4,824,060.00. Following the completion of the transaction, the executive vice president now directly owns 162,944 shares of the company’s stock, valued at approximately $33,403,520. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 120,000 shares of the company’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $158.84, for a total value of $19,060,800.00. Following the completion of the sale, the director now directly owns 1,325,888 shares in the company, valued at approximately $210,604,049.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Debora Shoquist sold 23,532 shares of the company’s stock in a transaction on Friday, January 27th. The shares were sold at an average price of $205.00, for a total value of $4,824,060.00. Following the completion of the sale, the executive vice president now owns 162,944 shares of the company’s stock, valued at $33,403,520. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293,066 shares of company stock valued at $51,229,679. 4.04% of the stock is owned by insiders.

NVIDIA Company Profile

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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, including GeForce for gamers, Quadro for designers, Tesla and DGX for AI data scientists and big data researchers, and GRID for cloud-based visual computing users.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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