Macroview Investment Management LLC Increases Holdings in NVIDIA Co. (NASDAQ:NVDA)

Macroview Investment Management LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 3.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,338 shares of the computer hardware maker’s stock after acquiring an additional 115 shares during the period. Macroview Investment Management LLC’s holdings in NVIDIA were worth $405,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc grew its holdings in shares of NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after acquiring an additional 191,469,114 shares during the period. Bank of New York Mellon Corp raised its holdings in 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 purchasing an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings 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 buying an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of NVIDIA by 1,123.2% in 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 buying an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after acquiring an additional 73,589,208 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NVDA. Evercore ISI raised their target price on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Morgan Stanley boosted their target price on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research report on Tuesday, August 6th. Redburn Atlantic started coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective for the company. Finally, Piper Sandler upped their target price on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $164.15.

Insider Activity at NVIDIA

In related news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,036,986 shares of company stock worth $240,602,399. 4.23% of the stock is owned by corporate insiders.

NVIDIA Trading Up 2.2 %

Shares of NVDA stock opened at $138.25 on Friday. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $152.89. The firm has a fifty day moving average price of $136.05 and a 200-day moving average price of $123.90. 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 company has a market cap of $3.39 trillion, a price-to-earnings ratio of 54.41, a PEG ratio of 2.45 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the company earned $0.38 EPS. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. As a group, equities analysts predict that NVIDIA Co. will post 2.76 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

NVIDIA announced that its Board of Directors has approved a stock repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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.