Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Acquires 37,494 Shares of NVIDIA Co. (NASDAQ:NVDA)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,285,011 shares of the computer hardware maker’s stock after acquiring an additional 37,494 shares during the period. NVIDIA makes up 1.4% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 25th largest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in NVIDIA were worth $156,052,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Legal & General Group Plc boosted its holdings in shares of NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after buying an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp raised its position in 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 worth $22,561,200,000 after acquiring an additional 163,482,580 shares during the period. Ameriprise Financial Inc. boosted its stake 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 worth $12,658,922,000 after acquiring an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP grew its position 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 valued at $11,371,255,000 after acquiring an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of NVIDIA by 808.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after purchasing an additional 73,589,208 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on NVDA shares. Robert W. Baird lifted their price objective on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Morgan Stanley increased their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Needham & Company LLC lifted their target price on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Wells Fargo & Company upped their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This trade represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,556,986 shares of company stock valued at $188,359,199 in the last ninety days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVDA opened at $139.31 on Thursday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a twelve month low of $46.05 and a twelve month high of $152.89. The company has a fifty day simple moving average of $138.87 and a 200 day simple moving average of $126.24. The firm has a market cap of $3.41 trillion, a price-to-earnings ratio of 54.85, a PEG ratio of 2.58 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last announced 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 analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 EPS. Equities research analysts expect that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

NVIDIA declared that its board has approved a stock repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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.