NVIDIA Co. (NASDAQ:NVDA) is Principal Financial Group Inc.’s 3rd Largest Position

Principal Financial Group Inc. grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,627,274 shares of the computer hardware maker’s stock after purchasing an additional 1,285,897 shares during the period. NVIDIA makes up 2.4% of Principal Financial Group Inc.’s portfolio, making the stock its 3rd biggest position. Principal Financial Group Inc.’s holdings in NVIDIA were worth $4,326,576,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Quest Partners LLC acquired a new position in shares of NVIDIA in the second quarter worth $27,000. Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA in the third quarter worth $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of NVIDIA in the second quarter worth $31,000. West Financial Advisors LLC acquired a new position in NVIDIA during the third quarter worth $36,000. Finally, DHJJ Financial Advisors Ltd. increased its position in NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This represents a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the transaction, the chief financial officer now directly owns 3,351,572 shares in the company, valued at $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock valued at $146,506,958 in the last three months. 4.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on NVDA. Phillip Securities reissued an “accumulate” rating and set a $160.00 target price (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Needham & Company LLC increased their target price on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Citigroup increased their target price on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Susquehanna raised their price target on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Finally, Barclays raised their price target on NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.63.

NVIDIA Stock Up 0.1 %

Shares of NVDA stock opened at $147.22 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm’s 50-day moving average is $138.70 and its 200-day moving average is $129.34. The stock has a market cap of $3.61 trillion, a price-to-earnings ratio of 57.94, a PEG ratio of 2.54 and a beta of 1.64. NVIDIA Co. has a 52-week low of $59.94 and a 52-week high of $153.13.

NVIDIA (NASDAQ:NVDA) last issued its 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. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 EPS. Sell-side analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

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

NVIDIA Company 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.