NVIDIA Co. (NASDAQ:NVDA) Position Raised by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 290.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 321,034 shares of the computer hardware maker’s stock after buying an additional 238,865 shares during the period. NVIDIA makes up about 0.9% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 19th largest holding. Wedge Capital Management L L P NC’s holdings in NVIDIA were worth $66,505,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of NVDA. Edgewood Management LLC increased its holdings in shares of NVIDIA by 238.8% in the second quarter. Edgewood Management LLC now owns 17,989,080 shares of the computer hardware maker’s stock valued at $3,598,266,000 after buying an additional 12,678,710 shares in the last quarter. Amundi bought a new position in shares of NVIDIA in the second quarter valued at $1,824,062,000. GQG Partners LLC increased its holdings in shares of NVIDIA by 87.6% in the second quarter. GQG Partners LLC now owns 3,715,358 shares of the computer hardware maker’s stock valued at $2,971,965,000 after buying an additional 1,735,207 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in shares of NVIDIA by 519.0% in the second quarter. 1832 Asset Management L.P. now owns 971,153 shares of the computer hardware maker’s stock valued at $775,260,000 after buying an additional 814,256 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in NVIDIA by 151.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,160,793 shares of the computer hardware maker’s stock worth $928,750,000 after purchasing an additional 698,500 shares in the last quarter. 19.24% of the stock is currently owned by institutional investors.

In other NVIDIA news, Director Mark A. Stevens sold 58,000 shares of the business’s stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $342.58, for a total transaction of $19,869,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Persis Drell sold 10,000 shares of the company’s stock in a transaction dated Friday, November 19th. The shares were sold at an average price of $326.65, for a total transaction of $3,266,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,000 shares of company stock valued at $25,222,940. Company insiders own 4.47% of the company’s stock.

NASDAQ:NVDA traded up $9.28 during trading hours on Thursday, reaching $326.74. The company’s stock had a trading volume of 43,469,906 shares, compared to its average volume of 34,447,004. The company has a market cap of $814.24 billion, a price-to-earnings ratio of 116.48, a price-to-earnings-growth ratio of 4.45 and a beta of 1.46. NVIDIA Co. has a one year low of $115.67 and a one year high of $346.47. The business’s 50-day moving average is $248.30 and its 200-day moving average is $210.84. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.80 and a quick ratio of 5.33.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 17th. The computer hardware maker reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.06. NVIDIA had a net margin of 32.33% and a return on equity of 40.88%. During the same quarter last year, the business posted $0.60 earnings per share. On average, sell-side analysts predict that NVIDIA Co. will post 3.49 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 23rd. Shareholders of record on Thursday, December 2nd will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.05%. The ex-dividend date of this dividend is Wednesday, December 1st. NVIDIA’s dividend payout ratio is 5.70%.

NVDA has been the topic of several research analyst reports. Truist lifted their price objective on shares of NVIDIA from $360.00 to $389.00 and gave the stock a “buy” rating in a research report on Thursday, November 18th. Piper Sandler lifted their price objective on shares of NVIDIA from $260.00 to $350.00 and gave the stock an “overweight” rating in a research report on Thursday, November 18th. Rosenblatt Securities lifted their price objective on shares of NVIDIA from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, August 19th. Citigroup lifted their price objective on shares of NVIDIA from $223.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, November 15th. Finally, Oppenheimer lifted their price objective on shares of NVIDIA from $235.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, November 11th. Three analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $326.78.

About NVIDIA

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 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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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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