Fiduciary Alliance LLC purchased a new stake in NVIDIA Co. (NASDAQ:NVDA – Get Rating) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 2,755 shares of the computer hardware maker’s stock, valued at approximately $403,000.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in NVIDIA by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 203,747,246 shares of the computer hardware maker’s stock valued at $24,732,878,000 after purchasing an additional 2,326,387 shares during the period. State Street Corp increased its holdings in shares of NVIDIA by 0.9% in the 3rd quarter. State Street Corp now owns 98,751,264 shares of the computer hardware maker’s stock worth $11,987,416,000 after acquiring an additional 908,481 shares during the period. Price T Rowe Associates Inc. MD lifted its position in NVIDIA by 7.2% in the 2nd 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. Legal & General Group Plc boosted its stake in NVIDIA by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 18,243,948 shares of the computer hardware maker’s stock valued at $2,765,602,000 after purchasing an additional 764,184 shares during the period. Finally, UBS Asset Management Americas Inc. grew its position in NVIDIA by 3.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 14,612,261 shares of the computer hardware maker’s stock worth $2,215,073,000 after purchasing an additional 467,060 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
NVDA has been the subject of several analyst reports. Jefferies Financial Group boosted their price objective on NVIDIA from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, February 23rd. Mizuho raised their target price on shares of NVIDIA from $230.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, March 22nd. KeyCorp increased their price objective on shares of NVIDIA from $220.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, February 17th. TD Cowen raised their price objective on shares of NVIDIA from $260.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, March 22nd. Finally, Evercore ISI increased their price target on NVIDIA from $245.00 to $300.00 in a research note on Thursday, February 23rd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $257.82.
NVIDIA Trading Down 1.5 %
NVIDIA (NASDAQ:NVDA – Get Rating) last announced its quarterly earnings data on Wednesday, February 22nd. The computer hardware maker reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.07. NVIDIA had a net margin of 16.19% and a return on equity of 26.61%. The business had revenue of $6.05 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the prior year, the business earned $1.14 earnings per share. The firm’s revenue for the quarter was down 20.8% on a year-over-year basis. As a group, sell-side analysts expect that NVIDIA Co. will post 3.22 EPS for the current year.
NVIDIA Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 29th. Shareholders of record on Wednesday, March 8th will be paid a dividend of $0.04 per share. The ex-dividend date is Tuesday, March 7th. This represents a $0.16 dividend on an annualized basis and a yield of 0.06%. NVIDIA’s dividend payout ratio is currently 9.20%.
Insider Buying and Selling at NVIDIA
In other news, CFO Colette Kress sold 10,741 shares of NVIDIA stock in a transaction dated Thursday, January 26th. The shares were sold at an average price of $200.00, for a total transaction of $2,148,200.00. Following the sale, the chief financial officer now directly owns 536,960 shares in the company, valued at approximately $107,392,000. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 120,000 shares of the business’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $158.84, for a total value of $19,060,800.00. Following the transaction, the director now directly owns 1,325,888 shares in the company, valued at $210,604,049.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Colette Kress sold 10,741 shares of the business’s stock in a transaction that occurred on Thursday, January 26th. The stock was sold at an average price of $200.00, for a total value of $2,148,200.00. Following the completion of the transaction, the chief financial officer now directly owns 536,960 shares in the company, valued at $107,392,000. The disclosure for this sale can be found here. Insiders have sold 232,773 shares of company stock valued at $41,275,700 in the last 90 days. 4.04% of the stock is currently owned by company insiders.
NVIDIA Profile
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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