Achmea Investment Management B.V. bought a new stake in NVIDIA Co. (NASDAQ:NVDA – Get Rating) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 172,468 shares of the computer hardware maker’s stock, valued at approximately $47,060,000. NVIDIA makes up about 1.2% of Achmea Investment Management B.V.’s portfolio, making the stock its 8th largest holding.
Several other hedge funds and other institutional investors have also made changes to their positions in NVDA. Rather & Kittrell Inc. acquired a new stake in shares of NVIDIA in the fourth quarter valued at about $26,000. Claremont Financial Group Inc. acquired a new stake in shares of NVIDIA in the fourth quarter valued at about $29,000. Emerson Wealth LLC acquired a new stake in shares of NVIDIA in the first quarter valued at about $27,000. Clear Perspectives Financial Planning LLC acquired a new stake in shares of NVIDIA in the first quarter valued at about $28,000. Finally, Roble Belko & Company Inc lifted its stake in shares of NVIDIA by 550.0% in the first quarter. Roble Belko & Company Inc now owns 104 shares of the computer hardware maker’s stock valued at $28,000 after purchasing an additional 88 shares during the period. Hedge funds and other institutional investors own 62.58% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on the stock. Credit Suisse Group set a $205.00 target price on shares of NVIDIA in a research report on Wednesday, August 31st. Stifel Nicolaus assumed coverage on shares of NVIDIA in a research report on Wednesday. They set a “hold” rating and a $165.00 target price for the company. Cowen cut their target price on shares of NVIDIA from $350.00 to $265.00 in a research report on Thursday, May 26th. BMO Capital Markets cut their target price on shares of NVIDIA from $250.00 to $230.00 and set an “outperform” rating for the company in a research report on Thursday, August 25th. Finally, Cowen cut their target price on shares of NVIDIA from $350.00 to $265.00 and set an “outperform” rating for the company in a research report on Thursday, May 26th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $217.26.
NVIDIA Stock Up 2.8 %
NVIDIA (NASDAQ:NVDA – Get Rating) last issued its earnings results on Wednesday, August 24th. The computer hardware maker reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.70 billion. NVIDIA had a return on equity of 36.83% and a net margin of 26.03%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the company posted $0.89 earnings per share. Equities analysts anticipate that NVIDIA Co. will post 2.48 EPS for the current year.
NVIDIA Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 8th will be given a dividend of $0.04 per share. The ex-dividend date is Wednesday, September 7th. This represents a $0.16 annualized dividend and a dividend yield of 0.11%. NVIDIA’s dividend payout ratio is currently 5.25%.
Insider Transactions at NVIDIA
In other news, Director Mark A. Stevens sold 113,850 shares of the company’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $158.03, for a total transaction of $17,991,715.50. Following the completion of the transaction, the director now owns 2,596,493 shares in the company, valued at $410,323,788.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.04% of the company’s stock.
NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.
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