NVIDIA Corporation $NVDA Stake Lowered by McBroom & Associates LLC

McBroom & Associates LLC lessened its holdings in shares of NVIDIA Corporation (NASDAQ:NVDAFree Report) by 6.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 115,778 shares of the computer hardware maker’s stock after selling 8,373 shares during the period. NVIDIA accounts for 10.3% of McBroom & Associates LLC’s investment portfolio, making the stock its biggest holding. McBroom & Associates LLC’s holdings in NVIDIA were worth $21,602,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NVDA. State Street Corp lifted its holdings in shares of NVIDIA by 1.0% in the 2nd quarter. State Street Corp now owns 978,208,862 shares of the computer hardware maker’s stock valued at $154,556,803,000 after purchasing an additional 9,554,857 shares during the last quarter. Geode Capital Management LLC increased its position in NVIDIA by 1.5% during the second quarter. Geode Capital Management LLC now owns 579,213,497 shares of the computer hardware maker’s stock worth $91,150,170,000 after buying an additional 8,521,936 shares during the period. Norges Bank purchased a new stake in NVIDIA in the second quarter valued at approximately $51,386,863,000. Legal & General Group Plc boosted its holdings in shares of NVIDIA by 1.5% in the second quarter. Legal & General Group Plc now owns 178,593,475 shares of the computer hardware maker’s stock valued at $28,215,983,000 after acquiring an additional 2,623,678 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of NVIDIA by 2.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 155,668,775 shares of the computer hardware maker’s stock worth $24,594,110,000 after acquiring an additional 4,209,423 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. Rosenblatt Securities upped their price target on shares of NVIDIA from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. BNP Paribas Exane lifted their price objective on shares of NVIDIA from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, November 18th. Stifel Nicolaus set a $250.00 target price on shares of NVIDIA in a research note on Thursday, January 8th. Bank of America reissued a “buy” rating and set a $275.00 price target on shares of NVIDIA in a report on Friday, December 26th. Finally, Evercore ISI restated an “outperform” rating on shares of NVIDIA in a research report on Tuesday, January 6th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $263.98.

Read Our Latest Stock Report on NVDA

NVIDIA Stock Down 1.4%

NVIDIA stock opened at $171.83 on Friday. The stock’s 50 day moving average price is $183.92 and its 200 day moving average price is $182.63. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $212.19. The company has a market cap of $4.18 trillion, a PE ratio of 42.64, a price-to-earnings-growth ratio of 0.54 and a beta of 2.31. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.47 and a quick ratio of 3.71.

NVIDIA (NASDAQ:NVDAGet Free Report) last released its earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.07. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.The company had revenue of $57.01 billion during the quarter, compared to the consensus estimate of $54.66 billion. During the same quarter last year, the company earned $0.81 earnings per share. NVIDIA’s quarterly revenue was up 62.5% compared to the same quarter last year. On average, sell-side analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Thursday, December 4th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. NVIDIA’s payout ratio is currently 0.99%.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 30,500 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $178.11, for a total value of $5,432,355.00. Following the sale, the chief financial officer owned 1,286,826 shares in the company, valued at $229,196,578.86. This represents a 2.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Debora Shoquist sold 80,000 shares of NVIDIA stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $178.90, for a total value of $14,312,000.00. Following the transaction, the executive vice president directly owned 1,494,443 shares of the company’s stock, valued at approximately $267,355,852.70. This represents a 5.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,563,834 shares of company stock valued at $283,360,391 in the last ninety days. Company insiders own 4.17% of the company’s stock.

Trending Headlines about NVIDIA

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NVIDIA Profile

(Free Report)

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

See Also

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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