Royal London Asset Management Ltd. lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 9.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,055,705 shares of the computer hardware maker’s stock after selling 217,010 shares during the quarter. NVIDIA makes up about 1.3% of Royal London Asset Management Ltd.’s portfolio, making the stock its 10th biggest holding. Royal London Asset Management Ltd. owned approximately 0.08% of NVIDIA worth $249,542,000 at the end of the most recent quarter.
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Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fisher Asset Management LLC grew its position in NVIDIA by 59.5% in the 3rd quarter. Fisher Asset Management LLC now owns 12,107,130 shares of the computer hardware maker’s stock valued at $1,469,685,000 after acquiring an additional 4,515,944 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of NVIDIA by 7.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 56,929,819 shares of the computer hardware maker’s stock worth $8,629,991,000 after buying an additional 3,813,087 shares in the last quarter. Great West Life Assurance Co. Can acquired a new position in shares of NVIDIA during the third quarter worth about $285,893,000. State Street Corp grew its position in shares of NVIDIA by 1.8% during the second quarter. State Street Corp now owns 97,842,783 shares of the computer hardware maker’s stock worth $14,835,689,000 after buying an additional 1,743,632 shares in the last quarter. Finally, Barclays PLC grew its position in shares of NVIDIA by 26.1% during the third quarter. Barclays PLC now owns 8,247,040 shares of the computer hardware maker’s stock worth $1,001,106,000 after buying an additional 1,708,536 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on NVDA shares. HSBC started coverage on NVIDIA in a research note on Thursday, December 15th. They issued a “reduce” rating and a $136.00 price objective for the company. Cowen boosted their price target on NVIDIA from $200.00 to $220.00 in a research report on Monday, December 12th. Cowen lifted their price objective on NVIDIA from $200.00 to $220.00 in a report on Monday, December 12th. Mizuho lowered their price objective on NVIDIA from $205.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, November 17th. Finally, Barclays upped their price objective on NVIDIA from $170.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, January 23rd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.72.
NVIDIA Price Performance
Shares of NASDAQ NVDA traded down $8.15 during mid-day trading on Friday, reaching $211.87. 22,393,537 shares of the company were exchanged, compared to its average volume of 48,615,359. The stock has a market capitalization of $527.56 billion, a PE ratio of 93.63, a PEG ratio of 6.19 and a beta of 1.79. The company’s 50 day moving average price is $179.02 and its 200 day moving average price is $159.29. NVIDIA Co. has a 52 week low of $108.13 and a 52 week high of $289.46. The company has a quick ratio of 2.74, a current ratio of 3.39 and a debt-to-equity ratio of 0.45.
NVIDIA (NASDAQ:NVDA – Get Rating) last announced its quarterly earnings results on Wednesday, November 16th. The computer hardware maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). NVIDIA had a net margin of 20.85% and a return on equity of 30.75%. The company had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.82 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. NVIDIA’s quarterly revenue was down 16.5% compared to the same quarter last year. Sell-side analysts forecast that NVIDIA Co. will post 2.19 earnings per share for the current fiscal year.
Insider Transactions at NVIDIA
In related news, Director Mark A. Stevens sold 120,000 shares of the stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $158.84, for a total transaction of $19,060,800.00. Following the transaction, the director now owns 1,325,888 shares in the company, valued at $210,604,049.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 120,000 shares of the company’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $158.84, for a total transaction of $19,060,800.00. Following the completion of the sale, the director now directly owns 1,325,888 shares of the company’s stock, valued at $210,604,049.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 10,741 shares of the stock in a transaction on Thursday, January 26th. The stock was sold at an average price of $200.00, for a total transaction of $2,148,200.00. Following the completion of the sale, the chief financial officer now directly owns 536,960 shares of the company’s stock, valued at $107,392,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 262,060 shares of company stock worth $43,817,257. Corporate insiders own 4.04% of the company’s stock.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, 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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