Legal & General Group Plc increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 8.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,828,197 shares of the computer hardware maker’s stock after purchasing an additional 225,412 shares during the quarter. Legal & General Group Plc owned 0.46% of NVIDIA worth $377,566,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Fin Capital Inc. increased its holdings in NVIDIA by 22.3% during the 3rd quarter. Blue Fin Capital Inc. now owns 4,671 shares of the computer hardware maker’s stock valued at $1,313,000 after acquiring an additional 853 shares in the last quarter. Schroder Investment Management Group increased its holdings in NVIDIA by 0.4% during the 3rd quarter. Schroder Investment Management Group now owns 386,621 shares of the computer hardware maker’s stock valued at $108,648,000 after acquiring an additional 1,712 shares in the last quarter. Trust Co. of Virginia VA purchased a new position in NVIDIA during the 3rd quarter valued at about $225,000. Granite Point Capital Management L.P. increased its holdings in NVIDIA by 13.7% during the 3rd quarter. Granite Point Capital Management L.P. now owns 5,800 shares of the computer hardware maker’s stock valued at $1,630,000 after acquiring an additional 700 shares in the last quarter. Finally, Shell Asset Management Co. increased its holdings in NVIDIA by 10.0% during the 3rd quarter. Shell Asset Management Co. now owns 75,791 shares of the computer hardware maker’s stock valued at $21,299,000 after acquiring an additional 6,912 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.
Several research firms have weighed in on NVDA. TheStreet upgraded shares of NVIDIA from a “c+” rating to a “b-” rating in a report on Thursday, April 4th. BidaskClub upgraded shares of NVIDIA from a “buy” rating to a “strong-buy” rating in a report on Friday, April 5th. DZ Bank downgraded shares of NVIDIA to a “sell” rating and set a $170.00 target price for the company. in a report on Friday. Nomura began coverage on shares of NVIDIA in a report on Tuesday, April 2nd. They set a “neutral” rating and a $147.00 target price for the company. Finally, Zacks Investment Research upgraded shares of NVIDIA from a “strong sell” rating to a “hold” rating in a report on Monday, April 1st. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $204.46.
NVIDIA (NASDAQ:NVDA) last released its earnings results on Thursday, February 14th. The computer hardware maker reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.27. NVIDIA had a net margin of 35.35% and a return on equity of 41.78%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period last year, the company earned $1.72 earnings per share. The company’s quarterly revenue was down 24.3% on a year-over-year basis. As a group, sell-side analysts expect that NVIDIA Co. will post 4.46 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 1st were given a $0.16 dividend. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $0.64 annualized dividend and a dividend yield of 0.35%. NVIDIA’s dividend payout ratio is presently 10.54%.
In other NVIDIA news, EVP Debora Shoquist sold 5,823 shares of NVIDIA stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $185.00, for a total transaction of $1,077,255.00. Following the transaction, the executive vice president now directly owns 171,783 shares of the company’s stock, valued at $31,779,855. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Colette Kress sold 14,092 shares of NVIDIA stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $183.33, for a total transaction of $2,583,486.36. The disclosure for this sale can be found here. Insiders sold 20,029 shares of company stock worth $3,678,385 over the last three months. Corporate insiders own 4.70% of the company’s stock.
NVIDIA Company Profile
NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for artificial intelligence (AI) utilizing deep learning, accelerated computing, and general purpose computing; GRID, which provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.
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