Posted by Defense World Staff on May 21st, 2024
M&G Investment Management Ltd. boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 30.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,224 shares of the computer hardware maker’s stock after purchasing an additional 9,121 shares during the period. M&G Investment Management Ltd.’s holdings in NVIDIA were worth $19,416,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the stock. Lodestar Private Asset Management LLC raised its stake in NVIDIA by 1.0% during the fourth quarter. Lodestar Private Asset Management LLC now owns 1,652 shares of the computer hardware maker’s stock worth $818,000 after purchasing an additional 17 shares during the period. JNBA Financial Advisors raised its stake in NVIDIA by 1.7% during the fourth quarter. JNBA Financial Advisors now owns 1,001 shares of the computer hardware maker’s stock worth $496,000 after purchasing an additional 17 shares during the period. Campbell Newman Asset Management Inc. raised its stake in NVIDIA by 0.6% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 2,991 shares of the computer hardware maker’s stock worth $1,481,000 after purchasing an additional 18 shares during the period. Kraft Davis & Associates LLC increased its position in shares of NVIDIA by 0.6% in the fourth quarter. Kraft Davis & Associates LLC now owns 3,048 shares of the computer hardware maker’s stock worth $1,509,000 after acquiring an additional 18 shares in the last quarter. Finally, IAG Wealth Partners LLC increased its position in shares of NVIDIA by 4.4% in the fourth quarter. IAG Wealth Partners LLC now owns 430 shares of the computer hardware maker’s stock worth $213,000 after acquiring an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.
NVIDIA Trading Up 2.5 %
Shares of NASDAQ:NVDA opened at $947.80 on Tuesday. The company has a market cap of $2.33 trillion, a PE ratio of 79.38, a P/E/G ratio of 1.31 and a beta of 1.75. The company’s 50-day moving average price is $884.78 and its 200 day moving average price is $691.03. NVIDIA Co. has a fifty-two week low of $298.06 and a fifty-two week high of $974.00. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20.
NVIDIA (NASDAQ:NVDA – Get Free Report) last released its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating the consensus estimate of $4.21 by $0.95. The firm had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. NVIDIA’s quarterly revenue was up 265.3% on a year-over-year basis. During the same quarter last year, the company earned $0.65 EPS. Sell-side analysts anticipate that NVIDIA Co. will post 22.9 earnings per share for the current year.
NVIDIA Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.04 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 annualized dividend and a yield of 0.02%. NVIDIA’s payout ratio is 1.34%.
Insider Buying and Selling at NVIDIA
In other NVIDIA news, Director John Dabiri sold 128 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the transaction, the director now owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Mark A. Stevens sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following the sale, the director now directly owns 1,124,583 shares in the company, valued at approximately $896,933,663.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Dabiri sold 128 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the completion of the sale, the director now owns 2,055 shares in the company, valued at $1,931,700. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,278 shares of company stock valued at $52,689,898. Company insiders own 4.23% of the company’s stock.
Analyst Ratings Changes
NVDA has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on shares of NVIDIA from $650.00 to $850.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Tigress Financial increased their price objective on shares of NVIDIA from $790.00 to $985.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Jefferies Financial Group initiated coverage on shares of NVIDIA in a research report on Monday, May 13th. They issued a “buy” rating and a $1,200.00 price objective for the company. Argus increased their price objective on shares of NVIDIA from $850.00 to $950.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, The Goldman Sachs Group increased their price objective on shares of NVIDIA from $1,000.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Four analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $1,002.18.
Read Our Latest Stock Analysis on NVIDIA
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.
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