Berkshire Asset Management LLC PA bought a new stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,050 shares of the computer hardware maker’s stock, valued at approximately $1,681,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in NVIDIA by 9.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock valued at $8,323,694,000 after purchasing an additional 5,043,685 shares in the last quarter. Geode Capital Management LLC raised its position in shares of NVIDIA by 0.6% in the first quarter. Geode Capital Management LLC now owns 46,056,013 shares of the computer hardware maker’s stock valued at $12,763,663,000 after purchasing an additional 267,061 shares during the period. Morgan Stanley lifted its stake in shares of NVIDIA by 20.2% during the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after buying an additional 4,621,002 shares during the last quarter. Norges Bank bought a new stake in shares of NVIDIA during the 4th quarter worth about $3,900,874,000. Finally, Bank of New York Mellon Corp grew its stake in NVIDIA by 1.5% in the 1st quarter. Bank of New York Mellon Corp now owns 21,702,416 shares of the computer hardware maker’s stock valued at $6,028,280,000 after buying an additional 322,662 shares during the last quarter. 64.79% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms recently weighed in on NVDA. Stifel Nicolaus raised NVIDIA from a “hold” rating to a “buy” rating and lifted their price target for the stock from $440.00 to $600.00 in a report on Thursday, August 24th. Wells Fargo & Company raised their price target on shares of NVIDIA from $500.00 to $600.00 and gave the stock an “overweight” rating in a research report on Thursday, August 24th. HSBC boosted their price objective on shares of NVIDIA from $600.00 to $780.00 and gave the company a “buy” rating in a report on Monday, August 21st. JPMorgan Chase & Co. raised their target price on NVIDIA from $500.00 to $600.00 and gave the company an “overweight” rating in a report on Thursday, August 24th. Finally, Tigress Financial lifted their target price on shares of NVIDIA from $320.00 to $560.00 in a research note on Friday, July 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $555.70.
NVIDIA Price Performance
NVDA stock opened at $454.85 on Thursday. NVIDIA Co. has a 1 year low of $108.13 and a 1 year high of $502.66. The business’s 50-day moving average is $453.63 and its two-hundred day moving average is $362.27. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.37. The firm has a market capitalization of $1.12 trillion, a P/E ratio of 109.87, a P/E/G ratio of 3.71 and a beta of 1.74.
NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 EPS for the quarter, beating the consensus estimate of $2.08 by $0.62. The firm had revenue of $13.51 billion for the quarter, compared to analyst estimates of $11.19 billion. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. NVIDIA’s revenue for the quarter was up 101.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 earnings per share. Analysts anticipate that NVIDIA Co. will post 9.24 earnings per share for the current fiscal year.
NVIDIA Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.04%. The ex-dividend date of this dividend is Wednesday, September 6th. NVIDIA’s payout ratio is 3.86%.
Insider Buying and Selling
In related news, CEO Jen Hsun Huang sold 29,688 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $454.01, for a total transaction of $13,478,648.88. Following the completion of the sale, the chief executive officer now directly owns 7,918,875 shares of the company’s stock, valued at $3,595,248,438.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Jen Hsun Huang sold 29,688 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $454.01, for a total transaction of $13,478,648.88. Following the completion of the transaction, the chief executive officer now directly owns 7,918,875 shares of the company’s stock, valued at approximately $3,595,248,438.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark A. Stevens sold 21,500 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the sale, the director now directly owns 1,030,786 shares in the company, valued at approximately $482,490,310.88. The disclosure for this sale can be found here. Insiders have sold 264,117 shares of company stock worth $118,846,792 in the last quarter. 3.99% of the stock is owned by insiders.
NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.
- Five stocks we like better than NVIDIA
- Dividend Capture Strategy: What You Need to Know
- 3 Low-Cost ETFs That Are Crushing SPY
- Are Stock Buybacks Good for the Average Investor?
- Shutterstock is the Value Stock they don’t want you to know about
- How to Effectively Use the MarketBeat Ratings Screener
- Body Slammed Under $100, Is World Wrestling Stock an Opportunity?
Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.