Premier Fund Managers Ltd grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 354.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 78,237 shares of the computer hardware maker’s stock after purchasing an additional 61,004 shares during the quarter. Premier Fund Managers Ltd’s holdings in NVIDIA were worth $16,057,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of NVDA. BlackRock Inc. grew its position in NVIDIA by 303.9% during the 3rd quarter. BlackRock Inc. now owns 174,248,282 shares of the computer hardware maker’s stock worth $36,097,274,000 after acquiring an additional 131,109,218 shares during the last quarter. Jennison Associates LLC increased its position in NVIDIA by 298.2% in the 3rd quarter. Jennison Associates LLC now owns 29,672,423 shares of the computer hardware maker’s stock valued at $6,146,939,000 after buying an additional 22,220,104 shares in the last quarter. Baillie Gifford & Co. increased its position in NVIDIA by 289.5% in the 3rd quarter. Baillie Gifford & Co. now owns 20,608,893 shares of the computer hardware maker’s stock valued at $4,269,338,000 after buying an additional 15,317,971 shares in the last quarter. Edgewood Management LLC increased its holdings in NVIDIA by 238.8% during the 2nd quarter. Edgewood Management LLC now owns 17,989,080 shares of the computer hardware maker’s stock worth $3,598,266,000 after purchasing an additional 12,678,710 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in NVIDIA by 296.3% during the 3rd quarter. Alliancebernstein L.P. now owns 11,877,027 shares of the computer hardware maker’s stock worth $2,460,445,000 after purchasing an additional 8,880,411 shares in the last quarter. Institutional investors own 63.70% of the company’s stock.
In related news, Director Mark A. Stevens sold 58,000 shares of NVIDIA stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $342.58, for a total transaction of $19,869,640.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Harvey C. Jones sold 41,484 shares of the business’s stock in a transaction on Thursday, December 16th. The stock was sold at an average price of $311.50, for a total transaction of $12,922,266.00. The disclosure for this sale can be found here. Insiders have sold 990,012 shares of company stock valued at $312,681,810 over the last quarter. Company insiders own 4.23% of the company’s stock.
NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 17th. The computer hardware maker reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.06. NVIDIA had a return on equity of 41.79% and a net margin of 33.81%. The business had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter in the prior year, the firm earned $0.60 earnings per share. As a group, equities research analysts anticipate that NVIDIA Co. will post 3.62 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 23rd. Shareholders of record on Thursday, December 2nd were issued a $0.04 dividend. The ex-dividend date was Wednesday, December 1st. This represents a $0.16 annualized dividend and a yield of 0.06%. NVIDIA’s dividend payout ratio (DPR) is presently 4.93%.
Several research firms recently commented on NVDA. Oppenheimer upped their price objective on NVIDIA from $235.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, November 11th. Wedbush cut NVIDIA from an “outperform” rating to a “neutral” rating and increased their target price for the company from $220.00 to $300.00 in a research note on Friday, November 12th. They noted that the move was a valuation call. Credit Suisse Group increased their target price on shares of NVIDIA from $225.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, November 16th. Truist Securities lowered their price objective on shares of NVIDIA from $389.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, January 6th. Finally, Citigroup lifted their target price on shares of NVIDIA from $223.00 to $350.00 and gave the company a “buy” rating in a report on Monday, November 15th. Three investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $326.63.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment comprises of product brands, which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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