Handelsinvest Investeringsforvaltning lessened its holdings in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 10.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,089 shares of the computer hardware maker’s stock after selling 1,327 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in NVIDIA were worth $1,346,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of NVDA. Price T Rowe Associates Inc. MD grew its position in shares of NVIDIA by 7.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 56,929,819 shares of the computer hardware maker’s stock worth $8,629,991,000 after buying an additional 3,813,087 shares in the last quarter. Great West Life Assurance Co. Can bought a new position in shares of NVIDIA during the 3rd quarter worth $285,893,000. State Street Corp grew its position in shares of NVIDIA by 1.8% during the 2nd quarter. State Street Corp now owns 97,842,783 shares of the computer hardware maker’s stock worth $14,835,689,000 after buying an additional 1,743,632 shares in the last quarter. Barclays PLC grew its position in shares of NVIDIA by 26.1% during the 3rd quarter. Barclays PLC now owns 8,247,040 shares of the computer hardware maker’s stock worth $1,001,106,000 after buying an additional 1,708,536 shares in the last quarter. Finally, Sands Capital Management LLC bought a new stake in NVIDIA during the second quarter valued at about $221,865,000. Institutional investors own 61.80% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on NVDA shares. Morgan Stanley dropped their price objective on NVIDIA from $182.00 to $175.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 17th. Susquehanna raised their price objective on NVIDIA from $180.00 to $185.00 and gave the company a “positive” rating in a research report on Thursday, November 17th. Wedbush raised their price objective on NVIDIA from $160.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, November 17th. StockNews.com cut NVIDIA from a “hold” rating to a “sell” rating in a research note on Thursday, October 20th. Finally, Needham & Company LLC increased their price target on NVIDIA from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, December 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $209.23.
Insider Activity at NVIDIA
NVIDIA Price Performance
NASDAQ:NVDA opened at $190.06 on Wednesday. NVIDIA Co. has a 52 week low of $108.13 and a 52 week high of $289.46. The company has a quick ratio of 2.74, a current ratio of 3.39 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $473.25 billion, a P/E ratio of 81.98, a P/E/G ratio of 7.29 and a beta of 1.77. The stock’s fifty day moving average is $162.10 and its two-hundred day moving average is $153.77.
NVIDIA (NASDAQ:NVDA – Get Rating) last posted its earnings results on Wednesday, November 16th. The computer hardware maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). NVIDIA had a net margin of 20.85% and a return on equity of 30.75%. The business had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $5.82 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. NVIDIA’s revenue for the quarter was down 16.5% compared to the same quarter last year. Equities analysts expect that NVIDIA Co. will post 2.19 EPS for the current year.
NVIDIA Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 22nd. Investors of record on Thursday, December 1st were issued a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $0.16 annualized dividend and a dividend yield of 0.08%. NVIDIA’s dividend payout ratio is presently 6.81%.
NVIDIA Company Profile
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.
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