Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 12.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,970,888 shares of the computer hardware maker’s stock after purchasing an additional 211,411 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.33% of NVIDIA Corporation worth $352,336,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC increased its position in shares of NVIDIA Corporation by 5,424.4% during the second quarter. Janus Henderson Group PLC now owns 4,096,888 shares of the computer hardware maker’s stock worth $592,244,000 after acquiring an additional 4,022,728 shares during the last quarter. Vanguard Group Inc. increased its position in shares of NVIDIA Corporation by 7.1% during the second quarter. Vanguard Group Inc. now owns 40,257,187 shares of the computer hardware maker’s stock worth $5,819,579,000 after acquiring an additional 2,676,976 shares during the last quarter. Jackson Square Partners LLC purchased a new stake in shares of NVIDIA Corporation during the second quarter worth about $229,323,000. Renaissance Technologies LLC increased its position in shares of NVIDIA Corporation by 19.3% during the second quarter. Renaissance Technologies LLC now owns 4,758,793 shares of the computer hardware maker’s stock worth $687,931,000 after acquiring an additional 768,200 shares during the last quarter. Finally, Quantitative Investment Management LLC increased its position in shares of NVIDIA Corporation by 3,194.2% during the second quarter. Quantitative Investment Management LLC now owns 678,600 shares of the computer hardware maker’s stock worth $98,098,000 after acquiring an additional 658,000 shares during the last quarter. Institutional investors own 65.40% of the company’s stock.
A number of brokerages have recently issued reports on NVDA. Royal Bank Of Canada lifted their target price on NVIDIA Corporation from $240.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday. B. Riley reaffirmed a “buy” rating and set a $270.00 target price on shares of NVIDIA Corporation in a research report on Tuesday. BMO Capital Markets raised NVIDIA Corporation from an “underperform” rating to a “market perform” rating and dropped their target price for the stock from $218.67 to $216.14 in a research report on Monday. MKM Partners lifted their target price on NVIDIA Corporation and gave the stock a “neutral” rating in a research report on Friday, November 10th. Finally, Raymond James Financial, Inc. lifted their target price on NVIDIA Corporation and gave the stock an “outperform” rating in a research report on Friday, November 10th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $186.20.
In other news, insider Jen Hsun Huang sold 110,000 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $166.08, for a total value of $18,268,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dawn E. Hudson sold 15,000 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $213.44, for a total transaction of $3,201,600.00. Following the completion of the transaction, the director now directly owns 46,868 shares in the company, valued at $10,003,505.92. The disclosure for this sale can be found here. Insiders sold 451,503 shares of company stock worth $81,997,895 over the last ninety days. 5.82% of the stock is currently owned by company insiders.
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NVIDIA Corporation (NASDAQ:NVDA) traded up $2.42 during midday trading on Friday, hitting $214.03. 4,588,420 shares of the stock were exchanged, compared to its average volume of 17,684,484. NVIDIA Corporation has a 1-year low of $84.77 and a 1-year high of $218.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 8.26 and a quick ratio of 7.42. The firm has a market capitalization of $126,970.00, a P/E ratio of 51.72, a PEG ratio of 4.54 and a beta of 1.23.
NVIDIA Corporation (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.39. NVIDIA Corporation had a net margin of 28.78% and a return on equity of 42.71%. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the business posted $0.94 earnings per share. NVIDIA Corporation’s revenue for the quarter was up 31.5% compared to the same quarter last year. analysts anticipate that NVIDIA Corporation will post 4.13 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This is an increase from NVIDIA Corporation’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.28%. NVIDIA Corporation’s dividend payout ratio is 14.00%.
About NVIDIA Corporation
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at 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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