Vident Investment Advisory LLC raised its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 65.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 84,963 shares of the computer hardware maker’s stock after purchasing an additional 33,704 shares during the period. NVIDIA accounts for about 0.8% of Vident Investment Advisory LLC’s investment portfolio, making the stock its 15th biggest holding. Vident Investment Advisory LLC’s holdings in NVIDIA were worth $15,404,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in the business. Bessemer Group Inc. lifted its position in shares of NVIDIA by 112.0% in the second quarter. Bessemer Group Inc. now owns 6,910 shares of the computer hardware maker’s stock valued at $1,000,000 after acquiring an additional 3,650 shares in the last quarter. Global X Management Co. LLC lifted its position in shares of NVIDIA by 20.6% in the second quarter. Global X Management Co. LLC now owns 7,740 shares of the computer hardware maker’s stock valued at $1,119,000 after acquiring an additional 1,320 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of NVIDIA in the second quarter valued at about $492,000. Canada Pension Plan Investment Board lifted its position in shares of NVIDIA by 160.6% in the second quarter. Canada Pension Plan Investment Board now owns 502,470 shares of the computer hardware maker’s stock valued at $72,637,000 after acquiring an additional 309,634 shares in the last quarter. Finally, Summit Securities Group LLC lifted its position in shares of NVIDIA by 17.0% in the second quarter. Summit Securities Group LLC now owns 11,700 shares of the computer hardware maker’s stock valued at $1,691,000 after acquiring an additional 1,700 shares in the last quarter. 63.51% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently commented on the company. Vetr upgraded NVIDIA from a “hold” rating to a “buy” rating and set a $176.95 price objective on the stock in a research report on Wednesday, September 6th. Needham & Company LLC reiterated a “buy” rating on shares of NVIDIA in a research report on Friday, August 11th. Citigroup reiterated a “buy” rating and issued a $210.00 target price (up from $185.00) on shares of NVIDIA in a research report on Friday, September 29th. Bank of America set a $210.00 target price on NVIDIA and gave the stock a “buy” rating in a research report on Thursday, October 12th. Finally, Loop Capital reiterated a “buy” rating and issued a $181.00 target price on shares of NVIDIA in a research report on Tuesday, August 22nd. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. NVIDIA presently has an average rating of “Buy” and a consensus price target of $187.38.
NVIDIA (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. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.36 billion. NVIDIA had a net margin of 28.78% and a return on equity of 42.71%. NVIDIA’s revenue was up 31.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 earnings per share. analysts forecast that NVIDIA Corporation will post 4.19 EPS for the current year.
The firm also recently announced 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Wednesday, November 22nd. This is an increase from NVIDIA’s previous quarterly dividend of $0.14. NVIDIA’s dividend payout ratio (DPR) is currently 14.89%.
In related news, insider Michael Byron sold 9,538 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $179.80, for a total transaction of $1,714,932.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dawn E. Hudson sold 3,052 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $214.39, for a total transaction of $654,318.28. Following the sale, the director now directly owns 28,816 shares of the company’s stock, valued at $6,177,862.24. The disclosure for this sale can be found here. In the last three months, insiders sold 315,175 shares of company stock worth $59,428,079. Insiders own 5.82% of the company’s stock.
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NVIDIA Company Profile
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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