Red Spruce Capital LLC Acquires New Shares in NVIDIA Co. (NASDAQ:NVDA)
Red Spruce Capital LLC acquired a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 2,503 shares of the computer hardware maker’s stock, valued at approximately $589,000.
Several other large investors also recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of NVIDIA by 1.4% during the 3rd quarter. State Street Corp now owns 24,646,826 shares of the computer hardware maker’s stock valued at $4,290,273,000 after purchasing an additional 336,468 shares during the period. Morgan Stanley raised its stake in shares of NVIDIA by 3.6% during the 2nd quarter. Morgan Stanley now owns 4,210,827 shares of the computer hardware maker’s stock valued at $691,544,000 after purchasing an additional 144,783 shares during the period. Nuveen Asset Management LLC raised its stake in shares of NVIDIA by 2,475.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,002,209 shares of the computer hardware maker’s stock valued at $493,052,000 after purchasing an additional 2,885,660 shares during the period. Parametric Portfolio Associates LLC increased its stake in NVIDIA by 10.6% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,432,147 shares of the computer hardware maker’s stock worth $249,294,000 after acquiring an additional 137,807 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its stake in NVIDIA by 45.3% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 1,306,554 shares of the computer hardware maker’s stock worth $214,576,000 after acquiring an additional 407,354 shares during the last quarter. Institutional investors own 65.02% of the company’s stock.
A number of equities analysts have weighed in on the company. Cascend Securities upped their target price on NVIDIA from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Goldman Sachs Group upped their target price on NVIDIA from $179.00 to $192.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Oppenheimer upped their target price on NVIDIA from $190.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Susquehanna Bancshares upped their target price on NVIDIA from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. upped their target price on NVIDIA from $200.00 to $237.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $228.86.
Shares of NVIDIA stock opened at $245.57 on Thursday. The company has a current ratio of 8.42, a quick ratio of 7.71 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $150.29 billion, a PE ratio of 40.46, a price-to-earnings-growth ratio of 6.13 and a beta of 2.04. The business’s 50-day moving average price is $229.80 and its 200-day moving average price is $191.95. NVIDIA Co. has a 12 month low of $131.00 and a 12 month high of $252.99.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, November 14th. The computer hardware maker reported $1.78 EPS for the quarter, beating the consensus estimate of $1.57 by $0.21. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.92 billion. NVIDIA had a return on equity of 22.02% and a net margin of 24.08%. The company’s revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.84 EPS. As a group, analysts predict that NVIDIA Co. will post 4.32 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 29th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.26%. The ex-dividend date was Wednesday, November 27th. NVIDIA’s dividend payout ratio is presently 10.54%.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. 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.
Recommended Story: Why do analysts give a neutral rating?
Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Co. (NASDAQ:NVDA).
Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.