Neuberger Berman Group LLC Acquires 40,946 Shares of NVIDIA Co. (NASDAQ:NVDA)
Neuberger Berman Group LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 23.7% during the first quarter, Holdings Channel reports. The fund owned 213,469 shares of the computer hardware maker’s stock after purchasing an additional 40,946 shares during the period. Neuberger Berman Group LLC’s holdings in NVIDIA were worth $38,330,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc boosted its stake in NVIDIA by 4.0% in the third quarter. Vanguard Group Inc now owns 44,464,641 shares of the computer hardware maker’s stock valued at $12,495,455,000 after acquiring an additional 1,693,736 shares during the last quarter. BlackRock Inc. boosted its stake in NVIDIA by 1.0% in the fourth quarter. BlackRock Inc. now owns 39,307,194 shares of the computer hardware maker’s stock valued at $5,247,509,000 after acquiring an additional 378,149 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of NVIDIA by 8,687.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,509,787 shares of the computer hardware maker’s stock worth $161,000 after purchasing an additional 21,265,009 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of NVIDIA by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 8,129,007 shares of the computer hardware maker’s stock worth $1,083,400,000 after purchasing an additional 266,779 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of NVIDIA by 10.6% during the first quarter. Jennison Associates LLC now owns 7,857,550 shares of the computer hardware maker’s stock worth $1,410,902,000 after purchasing an additional 753,001 shares in the last quarter. 67.56% of the stock is currently owned by hedge funds and other institutional investors.
NVDA opened at $148.26 on Friday. The firm has a market capitalization of $89.04 billion, a P/E ratio of 24.43, a P/E/G ratio of 3.72 and a beta of 2.03. NVIDIA Co. has a 12 month low of $124.46 and a 12 month high of $292.76. The company has a current ratio of 8.98, a quick ratio of 7.78 and a debt-to-equity ratio of 0.25.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 31st will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.64 annualized dividend and a yield of 0.43%. NVIDIA’s payout ratio is currently 10.54%.
In other NVIDIA news, EVP Debora Shoquist sold 5,823 shares of NVIDIA stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $185.00, for a total value of $1,077,255.00. Following the sale, the executive vice president now directly owns 171,783 shares in the company, valued at approximately $31,779,855. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 14,092 shares of NVIDIA stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $183.33, for a total transaction of $2,583,486.36. The disclosure for this sale can be found here. 4.64% of the stock is currently owned by insiders.
A number of brokerages have recently weighed in on NVDA. Stifel Nicolaus reduced their price target on shares of NVIDIA from $150.00 to $145.00 and set a “hold” rating on the stock in a research report on Tuesday, May 14th. Morgan Stanley lifted their price target on shares of NVIDIA from $148.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Monday, May 13th. Royal Bank of Canada lifted their price target on shares of NVIDIA to $200.00 and gave the stock an “outperform” rating in a research report on Monday, May 13th. BidaskClub cut shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, UBS Group reduced their price target on shares of NVIDIA from $210.00 to $195.00 and set a “buy” rating on the stock in a research report on Friday, May 17th. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $198.38.
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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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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