DnB Asset Management AS Grows Holdings in NVIDIA Corporation (NVDA)
DnB Asset Management AS grew its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 8.3% during the fourth quarter, HoldingsChannel reports. The firm owned 75,858 shares of the computer hardware maker’s stock after acquiring an additional 5,800 shares during the period. DnB Asset Management AS’s holdings in NVIDIA were worth $14,679,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in NVDA. Cibc World Markets Corp increased its holdings in shares of NVIDIA by 12.1% during the 2nd quarter. Cibc World Markets Corp now owns 128,316 shares of the computer hardware maker’s stock worth $18,549,000 after buying an additional 13,802 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of NVIDIA by 160.9% during the 3rd quarter. SG Americas Securities LLC now owns 195,787 shares of the computer hardware maker’s stock worth $35,001,000 after buying an additional 120,734 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of NVIDIA by 1.2% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 829,595 shares of the computer hardware maker’s stock worth $148,307,000 after buying an additional 9,565 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of NVIDIA by 3.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,932,495 shares of the computer hardware maker’s stock worth $345,473,000 after buying an additional 71,458 shares during the last quarter. Finally, Spectrum Management Group Inc. acquired a new stake in shares of NVIDIA during the 3rd quarter worth approximately $383,000. 63.41% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on NVDA shares. Raymond James Financial raised their price target on shares of NVIDIA and gave the stock an “outperform” rating in a report on Friday, November 10th. Bank of America set a $210.00 price target on shares of NVIDIA and gave the stock a “buy” rating in a report on Thursday, October 12th. Royal Bank of Canada raised their price target on shares of NVIDIA from $230.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. Mizuho restated a “buy” rating and set a $225.00 price target on shares of NVIDIA in a report on Tuesday, November 28th. Finally, Canaccord Genuity lifted their target price on shares of NVIDIA from $225.00 to $250.00 and gave the company a “buy” rating in a report on Friday, November 17th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. NVIDIA currently has an average rating of “Buy” and a consensus target price of $192.04.
In other news, CFO Colette Kress sold 171 shares of NVIDIA stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $185.57, for a total transaction of $31,732.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dawn E. Hudson sold 15,000 shares of NVIDIA 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 sale, the director now directly owns 46,868 shares of the company’s stock, valued at $10,003,505.92. The disclosure for this sale can be found here. Insiders sold a total of 19,858 shares of company stock valued at $4,227,384 in the last three months. 5.17% of the stock is currently owned by corporate insiders.
NVIDIA Corporation (NVDA) opened at $223.68 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 8.26 and a quick ratio of 7.42. NVIDIA Corporation has a 1 year low of $95.17 and a 1 year high of $225.00. The company has a market cap of $135,550.00, a P/E ratio of 55.92, a price-to-earnings-growth ratio of 5.02 and a beta of 1.18.
NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.39. NVIDIA had a net margin of 28.78% and a return on equity of 42.71%. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter last year, the company posted $0.94 EPS. The firm’s revenue was up 31.5% compared to the same quarter last year. equities research analysts forecast that NVIDIA Corporation will post 4.19 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, November 24th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.27%. The ex-dividend date was Wednesday, November 22nd. This is a boost from NVIDIA’s previous quarterly dividend of $0.14. NVIDIA’s dividend payout ratio (DPR) is currently 15.00%.
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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