Dudley Capital Management LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 0.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,274 shares of the computer hardware maker’s stock after selling 925 shares during the period. NVIDIA accounts for 6.5% of Dudley Capital Management LLC’s holdings, making the stock its 3rd biggest holding. Dudley Capital Management LLC’s holdings in NVIDIA were worth $12,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also modified their holdings of the stock. Legal & General Group Plc increased its holdings in 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 purchasing an additional 191,469,114 shares during the period. Bank of New York Mellon Corp increased its stake in shares of NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after buying an additional 163,482,580 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of NVIDIA by 870.3% in the second 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after acquiring an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings 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 worth $10,215,474,000 after acquiring an additional 73,589,208 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. Cantor Fitzgerald restated an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Wedbush lifted their price target on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Evercore ISI upped their price objective on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Craig Hallum lifted their target price on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.15.
Insider Buying and Selling at NVIDIA
In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 165,100 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the completion of the transaction, the director now owns 8,420,117 shares of the company’s stock, valued at approximately $1,021,107,588.59. This trade represents a 1.92 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,556,986 shares of company stock valued at $201,687,727. 4.23% of the stock is owned by company insiders.
NVIDIA Stock Up 3.1 %
NVDA stock opened at $134.70 on Monday. 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 firm’s fifty day simple moving average is $139.63 and its 200-day simple moving average is $127.32. NVIDIA Co. has a 12 month low of $47.32 and a 12 month high of $152.89. The company has a market capitalization of $3.30 trillion, a P/E ratio of 53.01, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63.
NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue was up 93.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.38 earnings per share. As a group, equities research analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current year.
NVIDIA Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.
NVIDIA declared that its Board of Directors has authorized a stock buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally 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.
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