Mission Wealth Management LP grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 4,939 shares of the computer hardware maker’s stock after purchasing an additional 261 shares during the period. Mission Wealth Management LP’s holdings in NVIDIA were worth $2,673,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in NVDA. Public Employees Retirement Association of Colorado grew its holdings in shares of NVIDIA by 5.4% in the first quarter. Public Employees Retirement Association of Colorado now owns 110,437 shares of the computer hardware maker’s stock valued at $29,111,000 after acquiring an additional 5,634 shares in the last quarter. Cohen & Steers Inc. bought a new position in shares of NVIDIA in the first quarter valued at approximately $111,000. APG Asset Management N.V. grew its holdings in shares of NVIDIA by 97.7% in the first quarter. APG Asset Management N.V. now owns 784,446 shares of the computer hardware maker’s stock valued at $206,780,000 after acquiring an additional 387,647 shares in the last quarter. CIBC World Markets Inc. grew its holdings in shares of NVIDIA by 36.5% in the first quarter. CIBC World Markets Inc. now owns 65,905 shares of the computer hardware maker’s stock valued at $17,373,000 after acquiring an additional 17,610 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of NVIDIA by 8.4% in the first quarter. Morgan Stanley now owns 2,509,795 shares of the computer hardware maker’s stock valued at $661,582,000 after acquiring an additional 195,455 shares in the last quarter. 68.11% of the stock is owned by institutional investors.
Several research firms have recently issued reports on NVDA. Truist upped their target price on NVIDIA from $550.00 to $623.00 and gave the company a “buy” rating in a report on Monday, October 12th. Piper Sandler upped their price objective on NVIDIA from $390.00 to $540.00 and gave the company an “overweight” rating in a research note on Thursday, August 20th. Cascend Securities upped their price objective on NVIDIA from $560.00 to $590.00 and gave the company a “buy” rating in a research note on Tuesday, October 6th. Jefferies Financial Group upped their price objective on NVIDIA from $570.00 to $680.00 and gave the company a “buy” rating in a research note on Monday, September 14th. Finally, New Street Research downgraded NVIDIA from a “neutral” rating to a “sell” rating and set a $400.00 price objective on the stock. in a research note on Thursday, October 8th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and thirty-one have issued a buy rating to the stock. NVIDIA presently has a consensus rating of “Buy” and a consensus target price of $521.49.
NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 19th. The computer hardware maker reported $2.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.21. NVIDIA had a return on equity of 30.41% and a net margin of 25.93%. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter last year, the business posted $1.24 earnings per share. The firm’s revenue was up 50.1% compared to the same quarter last year. On average, sell-side analysts forecast that NVIDIA Co. will post 6.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Wednesday, September 2nd were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.64 dividend on an annualized basis and a yield of 0.12%. NVIDIA’s dividend payout ratio is presently 13.94%.
In related news, Director Tench Coxe sold 629 shares of the stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $533.30, for a total value of $335,445.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 49,999 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $550.51, for a total value of $27,524,949.49. The disclosure for this sale can be found here. In the last three months, insiders sold 173,320 shares of company stock worth $87,129,970. 4.47% of the stock is owned by insiders.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. 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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