Edgewood Management LLC Increases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Edgewood Management LLC grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.7% in the third quarter, Holdings Channel.com reports. The firm owned 16,886,613 shares of the computer hardware maker’s stock after buying an additional 1,207,534 shares during the period. NVIDIA comprises about 5.5% of Edgewood Management LLC’s investment portfolio, making the stock its 5th biggest position. Edgewood Management LLC’s holdings in NVIDIA were worth $2,050,710,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of NVDA. Legal & General Group Plc grew its stake in 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 buying an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after acquiring an additional 163,482,580 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of NVIDIA by 1.4% in the third 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 in the last quarter. Ameriprise Financial Inc. raised its stake in shares of 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 lifted its holdings 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 worth $11,371,255,000 after purchasing an additional 84,515,429 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NVDA shares. The Goldman Sachs Group lifted their target price on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Robert W. Baird boosted their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Bank of America reiterated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Citigroup boosted their price target on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, DA Davidson upped their price target on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the transaction, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,071,886 shares of company stock valued at $140,997,550. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $140.14 on Wednesday. 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 company has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.15, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a 12 month low of $49.48 and a 12 month high of $153.13. The company has a 50-day moving average price of $139.72 and a 200-day moving average price of $128.37.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. The business 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%. The business’s revenue was up 93.6% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. As a group, equities analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

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 of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is currently 1.57%.

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.