Grandfield & Dodd LLC Has $1.34 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Grandfield & Dodd LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 3.7% in the third quarter, Holdings Channel.com reports. The firm owned 11,065 shares of the computer hardware maker’s stock after purchasing an additional 392 shares during the quarter. Grandfield & Dodd LLC’s holdings in NVIDIA were worth $1,344,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Legal & General Group Plc increased its position in NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after acquiring an additional 191,469,114 shares during the period. Bank of New York Mellon Corp grew its stake in shares of NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after purchasing an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after purchasing an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after purchasing an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after purchasing an additional 73,589,208 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Trading Up 3.4 %

Shares of NVDA stock opened at $149.43 on Tuesday. NVIDIA Co. has a 12-month low of $49.48 and a 12-month high of $152.89. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $139.75 and a 200-day moving average of $128.28. The firm has a market cap of $3.66 trillion, a P/E ratio of 58.81, a PEG ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue was up 93.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 earnings per share. Sell-side analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

Analyst Upgrades and Downgrades

A number of research firms have commented on NVDA. Loop Capital reiterated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. UBS Group upped their target price on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. TD Cowen raised their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Truist Financial upped their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Evercore ISI lifted their target price on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

Insider Activity

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. The trade was a 1.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,226,886 shares of company stock valued at $161,499,400 over the last quarter. Company insiders own 4.23% of the company’s stock.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.