NVIDIA Co. (NASDAQ:NVDA) Position Boosted by Prudential PLC

Prudential PLC lifted its position in NVIDIA Co. (NASDAQ:NVDAGet Rating) by 36.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 101,568 shares of the computer hardware maker’s stock after buying an additional 27,275 shares during the quarter. NVIDIA comprises 0.4% of Prudential PLC’s investment portfolio, making the stock its 26th largest holding. Prudential PLC’s holdings in NVIDIA were worth $29,872,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NVDA. Geode Capital Management LLC grew its stake in shares of NVIDIA by 310.0% in the 3rd quarter. Geode Capital Management LLC now owns 40,382,672 shares of the computer hardware maker’s stock valued at $8,342,531,000 after buying an additional 30,532,187 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in NVIDIA by 294.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 24,476,208 shares of the computer hardware maker’s stock worth $5,070,488,000 after purchasing an additional 18,277,063 shares during the last quarter. Morgan Stanley lifted its holdings in NVIDIA by 295.5% in the 3rd quarter. Morgan Stanley now owns 18,498,150 shares of the computer hardware maker’s stock worth $3,832,078,000 after purchasing an additional 13,821,357 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in NVIDIA by 288.1% in the 3rd quarter. Janus Henderson Group PLC now owns 17,832,017 shares of the computer hardware maker’s stock worth $3,694,005,000 after purchasing an additional 13,237,122 shares during the last quarter. Finally, GQG Partners LLC lifted its holdings in NVIDIA by 307.4% in the 3rd quarter. GQG Partners LLC now owns 15,135,970 shares of the computer hardware maker’s stock worth $3,135,357,000 after purchasing an additional 11,420,612 shares during the last quarter. 55.19% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ NVDA traded up $7.94 during mid-day trading on Tuesday, reaching $180.58. 1,385,127 shares of the company’s stock were exchanged, compared to its average volume of 60,324,264. The firm has a market capitalization of $525.98 billion, a price-to-earnings ratio of 46.79, a PEG ratio of 2.23 and a beta of 1.59. The company has a current ratio of 6.65, a quick ratio of 6.05 and a debt-to-equity ratio of 0.41. The business has a fifty day simple moving average of $224.12 and a 200 day simple moving average of $257.09. NVIDIA Co. has a twelve month low of $135.43 and a twelve month high of $346.47.

NVIDIA (NASDAQ:NVDAGet Rating) last released its quarterly earnings results on Wednesday, February 16th. The computer hardware maker reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.13. The company had revenue of $7.64 billion for the quarter, compared to analyst estimates of $7.43 billion. NVIDIA had a return on equity of 42.99% and a net margin of 36.24%. NVIDIA’s revenue was up 52.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 earnings per share. Equities research analysts predict that NVIDIA Co. will post 4.71 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 24th. Stockholders of record on Thursday, March 3rd were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend was Wednesday, March 2nd. NVIDIA’s dividend payout ratio is currently 4.16%.

NVDA has been the subject of several analyst reports. StockNews.com assumed coverage on NVIDIA in a report on Thursday, March 31st. They issued a “hold” rating for the company. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $280.00 price target for the company in a report on Wednesday, April 13th. Tigress Financial upped their price target on NVIDIA from $400.00 to $410.00 and gave the stock a “buy” rating in a report on Tuesday, March 29th. Zacks Investment Research lowered NVIDIA from a “buy” rating to a “hold” rating and set a $229.00 price target for the company. in a report on Tuesday, April 19th. Finally, Cowen reiterated an “outperform” rating and set a $350.00 price target on shares of NVIDIA in a report on Tuesday, March 15th. Eight research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $324.82.

In related news, Director Mark L. Perry sold 16,716 shares of the stock in a transaction dated Friday, March 18th. The stock was sold at an average price of $263.80, for a total transaction of $4,409,680.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tench Coxe sold 100,000 shares of the stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $274.06, for a total value of $27,406,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 409,056 shares of company stock worth $101,135,342. 4.23% of the stock is currently owned by insiders.

About NVIDIA (Get Rating)

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.

See Also

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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