Northwest Bancshares Inc. boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 253.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,376 shares of the computer hardware maker’s stock after buying an additional 1,703 shares during the period. Northwest Bancshares Inc.’s holdings in NVIDIA were worth $492,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Marquette Asset Management LLC raised its holdings in shares of NVIDIA by 300.0% in the 3rd quarter. Marquette Asset Management LLC now owns 120 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 90 shares during the period. Global Trust Asset Management LLC raised its holdings in shares of NVIDIA by 300.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 124 shares of the computer hardware maker’s stock worth $26,000 after purchasing an additional 93 shares during the period. PrairieView Partners LLC raised its holdings in shares of NVIDIA by 300.0% in the 3rd quarter. PrairieView Partners LLC now owns 200 shares of the computer hardware maker’s stock worth $41,000 after purchasing an additional 150 shares during the period. Regency Capital Management Inc. DE purchased a new position in shares of NVIDIA in the 1st quarter worth about $43,000. Finally, Perkins Coie Trust Co raised its holdings in shares of NVIDIA by 151.7% in the 3rd quarter. Perkins Coie Trust Co now owns 224 shares of the computer hardware maker’s stock worth $46,000 after purchasing an additional 135 shares during the period. 19.24% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Persis Drell sold 10,000 shares of the business’s stock in a transaction on Friday, November 19th. The stock was sold at an average price of $326.65, for a total transaction of $3,266,500.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 58,000 shares of the business’s stock in a transaction on Monday, November 22nd. The stock was 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 sold a total of 78,000 shares of company stock worth $25,222,940 in the last three months. Company insiders own 4.47% of the company’s stock.
NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 17th. The computer hardware maker reported $1.17 earnings per share for the quarter, beating 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 prior year, the company posted $0.60 EPS. On average, research analysts expect that NVIDIA Co. will post 3.49 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 23rd. Shareholders of record on Thursday, December 2nd will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.05%. The ex-dividend date of this dividend is Wednesday, December 1st. NVIDIA’s payout ratio is currently 5.70%.
NVDA has been the topic of a number of research reports. Sanford C. Bernstein set a $360.00 price objective on NVIDIA in a report on Thursday, November 18th. Citigroup raised their target price on NVIDIA from $223.00 to $350.00 and gave the company a “buy” rating in a report on Monday, November 15th. KeyCorp raised their target price on NVIDIA from $260.00 to $350.00 and gave the company an “overweight” rating in a report on Thursday, November 18th. Wedbush downgraded NVIDIA from an “outperform” rating to a “neutral” rating and raised their target price for the company from $220.00 to $300.00 in a report on Friday, November 12th. They noted that the move was a valuation call. Finally, Truist Securities raised their target price on NVIDIA from $360.00 to $389.00 and gave the company a “buy” rating in a report on Thursday, November 18th. Three equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $326.78.
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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