Taurus Asset Management LLC Grows Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Taurus Asset Management LLC increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 522.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,370 shares of the computer hardware maker’s stock after purchasing an additional 36,400 shares during the period. Taurus Asset Management LLC’s holdings in NVIDIA were worth $5,267,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NVDA. Legal & General Group Plc raised 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 worth $26,329,751,000 after acquiring an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp grew 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 valued at $22,561,200,000 after purchasing an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. increased its position 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 last quarter. Dimensional Fund Advisors LP lifted its stake in shares of 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 acquiring an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of NVIDIA by 808.6% during 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 in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NVDA. Needham & Company LLC raised their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. UBS Group lifted their price target on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Phillip Securities reiterated an “accumulate” rating and set a $160.00 price objective (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Morgan Stanley boosted their target price on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company raised their price target on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Up 4.5 %

NVDA stock opened at $144.47 on Friday. 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 business’s 50-day moving average price is $139.51 and its 200-day moving average price is $128.16. The stock has a market cap of $3.54 trillion, a P/E ratio of 56.86, a PEG ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a twelve month low of $47.51 and a twelve month high of $152.89.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) 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 the consensus estimate of $33.15 billion. During the same quarter in the prior year, the firm earned $0.38 earnings per share. NVIDIA’s revenue was up 93.6% on a year-over-year basis. On average, equities research analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the sale, the chief financial officer now directly owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. The trade was a 1.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction that occurred 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 directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,226,886 shares of company stock valued at $161,499,400 over the last 90 days. Corporate insiders own 4.23% of the company’s stock.

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.