DnB Asset Management AS increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 23.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,001 shares of the computer hardware maker’s stock after purchasing an additional 19,330 shares during the quarter. DnB Asset Management AS’s holdings in NVIDIA were worth $54,995,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Minot Wealth Management LLC raised its holdings in NVIDIA by 13.7% during the fourth quarter. Minot Wealth Management LLC now owns 8,758 shares of the computer hardware maker’s stock worth $4,573,000 after purchasing an additional 1,054 shares in the last quarter. Hartford Investment Management Co. lifted its holdings in shares of NVIDIA by 11.5% in the fourth quarter. Hartford Investment Management Co. now owns 73,359 shares of the computer hardware maker’s stock valued at $38,308,000 after buying an additional 7,593 shares during the period. Private Harbour Investment Management & Counsel LLC boosted its stake in NVIDIA by 13.6% during the fourth quarter. Private Harbour Investment Management & Counsel LLC now owns 4,157 shares of the computer hardware maker’s stock valued at $2,171,000 after buying an additional 497 shares in the last quarter. Glaxis Capital Management LLC acquired a new position in NVIDIA during the fourth quarter worth about $1,567,000. Finally, Pactiv General Employee Benefit Trust raised its position in NVIDIA by 40.6% in the fourth quarter. Pactiv General Employee Benefit Trust now owns 43,295 shares of the computer hardware maker’s stock worth $22,609,000 after acquiring an additional 12,495 shares in the last quarter. Institutional investors own 65.70% of the company’s stock.
NVDA stock opened at $636.50 on Friday. The stock has a market capitalization of $396.15 billion, a price-to-earnings ratio of 104.17, a price-to-earnings-growth ratio of 3.87 and a beta of 1.45. The company has a 50-day moving average of $535.73 and a two-hundred day moving average of $539.41. NVIDIA Co. has a 52-week low of $267.11 and a 52-week high of $648.57. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.92 and a quick ratio of 3.52.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Wednesday, March 10th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date was Tuesday, March 9th. NVIDIA’s dividend payout ratio (DPR) is presently 13.94%.
Several equities analysts have recently issued reports on NVDA shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of NVIDIA from $560.00 to $575.00 and gave the stock a “hold” rating in a research note on Tuesday, April 13th. They noted that the move was a valuation call. Raymond James raised NVIDIA from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $700.00 to $750.00 in a report on Thursday. JPMorgan Chase & Co. raised their price objective on NVIDIA from $605.00 to $660.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 3rd. Barclays boosted their target price on NVIDIA from $600.00 to $650.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 13th. Finally, Needham & Company LLC upped their target price on NVIDIA from $700.00 to $800.00 and gave the company a “buy” rating in a report on Wednesday, March 3rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. NVIDIA currently has a consensus rating of “Buy” and an average target price of $606.61.
In other NVIDIA news, Director Robert K. Burgess sold 14,500 shares of the firm’s stock in a transaction dated Thursday, April 15th. The shares were sold at an average price of $627.95, for a total transaction of $9,105,275.00. Also, Director Persis Drell sold 1,200 shares of NVIDIA stock in a transaction that occurred on Monday, April 12th. The shares were sold at an average price of $587.53, for a total value of $705,036.00. Following the sale, the director now directly owns 16,844 shares in the company, valued at $9,896,355.32. The disclosure for this sale can be found here. Insiders sold a total of 21,804 shares of company stock valued at $13,207,675 in the last quarter. Corporate insiders own 4.47% of the company’s stock.
NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based gaming; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for artificial intelligence (AI) utilizing deep learning, accelerated computing, and general purpose computing; GRID, which provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and EGX for accelerated AI computing at the edge.
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