NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 290.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 321,034 shares of the computer hardware maker’s stock after purchasing an additional 238,865 shares during the quarter. NVIDIA makes up 0.9% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 19th biggest holding. Wedge Capital Management L L P NC’s holdings in NVIDIA were worth $66,505,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Savior LLC raised its stake in NVIDIA by 8.6% during the 2nd quarter. Savior LLC now owns 227 shares of the computer hardware maker’s stock valued at $182,000 after acquiring an additional 18 shares during the last quarter. WNY Asset Management LLC raised its stake in NVIDIA by 4.2% during the 2nd quarter. WNY Asset Management LLC now owns 492 shares of the computer hardware maker’s stock valued at $394,000 after acquiring an additional 20 shares during the last quarter. Weaver Consulting Group raised its stake in NVIDIA by 5.5% during the 2nd quarter. Weaver Consulting Group now owns 535 shares of the computer hardware maker’s stock valued at $428,000 after acquiring an additional 28 shares during the last quarter. First National Bank of South Miami raised its stake in NVIDIA by 4.2% during the 2nd quarter. First National Bank of South Miami now owns 899 shares of the computer hardware maker’s stock valued at $719,000 after acquiring an additional 36 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. raised its stake in NVIDIA by 2.6% during the 2nd quarter. Stock Yards Bank & Trust Co. now owns 1,655 shares of the computer hardware maker’s stock valued at $1,324,000 after acquiring an additional 42 shares during the last quarter. 19.24% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Persis Drell sold 10,000 shares of the stock in a transaction on Friday, November 19th. The stock was sold at an average price of $326.65, for a total value of $3,266,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 58,000 shares of the firm’s stock in a transaction dated Monday, November 22nd. The shares were sold at an average price of $342.58, for a total value of $19,869,640.00. The disclosure for this sale can be found here. Insiders have sold 78,000 shares of company stock worth $25,222,940 in the last 90 days. Insiders own 4.47% of the company’s stock.

A number of brokerages have recently issued reports on NVDA. Robert W. Baird increased their target price on NVIDIA from $240.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday, November 15th. Craig Hallum increased their target price on NVIDIA from $220.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, November 18th. Zacks Investment Research raised NVIDIA from a “hold” rating to a “buy” rating and set a $231.00 target price for the company in a research note on Tuesday, August 24th. BMO Capital Markets increased their target price on NVIDIA from $250.00 to $375.00 in a research note on Monday. Finally, Truist increased their target price on NVIDIA from $360.00 to $389.00 and gave the stock a “buy” rating in a research note on Thursday, November 18th. Three investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $326.78.

Shares of NVDA stock traded up $9.28 during mid-day trading on Thursday, hitting $326.74. 43,469,906 shares of the company’s stock were exchanged, compared to its average volume of 34,447,004. NVIDIA Co. has a fifty-two week low of $115.67 and a fifty-two week high of $346.47. The stock has a 50-day simple moving average of $248.30 and a two-hundred day simple moving average of $210.84. The company has a quick ratio of 5.33, a current ratio of 5.80 and a debt-to-equity ratio of 0.52. The stock has a market cap of $814.24 billion, a price-to-earnings ratio of 116.48, a PEG ratio of 4.45 and a beta of 1.46.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 17th. The computer hardware maker reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.06. NVIDIA had a return on equity of 40.88% and a net margin of 32.33%. During the same quarter in the previous year, the business earned $0.60 EPS. As a group, analysts anticipate that NVIDIA Co. will post 3.49 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 23rd. Stockholders of record on Thursday, December 2nd will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.05%. The ex-dividend date is Wednesday, December 1st. NVIDIA’s dividend payout ratio (DPR) is 5.70%.

NVIDIA Company Profile

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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