Accredited Investors Inc. Raises Position in NVIDIA Co. (NASDAQ:NVDA)

Accredited Investors Inc. boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 4.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 71,840 shares of the computer hardware maker’s stock after buying an additional 3,005 shares during the quarter. Accredited Investors Inc.’s holdings in NVIDIA were worth $8,724,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NVDA. Legal & General Group Plc grew its holdings 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 during the period. Bank of New York Mellon Corp grew its stake in shares of NVIDIA by 854.1% during the 2nd 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. increased 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 worth $12,658,922,000 after buying an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP raised 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 boosted its holdings in NVIDIA by 808.6% in the second 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 last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,226,886 shares of company stock valued at $161,499,400 in the last quarter. Company insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVDA opened at $134.29 on Thursday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $139.55 and its 200 day moving average price is $128.09. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. The firm has a market cap of $3.29 trillion, a price-to-earnings ratio of 52.85, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for 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 quarterly revenue was up 93.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 EPS. As a group, sell-side analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

Analyst Ratings Changes

NVDA has been the subject of several research analyst reports. Needham & Company LLC upped their price target on NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Truist Financial raised their price target on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. 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. Finally, Stifel Nicolaus upped their price target on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Four 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, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $164.15.

About NVIDIA

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.