Gateway Investment Advisers LLC Grows Stake in NVIDIA Co. (NASDAQ:NVDA)

Gateway Investment Advisers LLC boosted its position in NVIDIA Co. (NASDAQ:NVDAGet Rating) by 6.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 720,758 shares of the computer hardware maker’s stock after purchasing an additional 41,484 shares during the period. NVIDIA comprises 1.2% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 13th biggest position. Gateway Investment Advisers LLC’s holdings in NVIDIA were worth $109,260,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in NVIDIA during the 4th quarter valued at $6,279,217,000. BlackRock Inc. grew its holdings in NVIDIA by 2.1% during the 4th quarter. BlackRock Inc. now owns 177,839,722 shares of the computer hardware maker’s stock valued at $52,304,441,000 after buying an additional 3,591,440 shares during the last quarter. Vanguard Group Inc. grew its holdings in NVIDIA by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 198,462,079 shares of the computer hardware maker’s stock valued at $54,152,363,000 after buying an additional 2,446,529 shares during the last quarter. Brown Advisory Inc. grew its holdings in NVIDIA by 94.4% during the 1st quarter. Brown Advisory Inc. now owns 4,557,600 shares of the computer hardware maker’s stock valued at $1,244,858,000 after buying an additional 2,213,090 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in NVIDIA by 43.3% during the 1st quarter. Fisher Asset Management LLC now owns 7,328,372 shares of the computer hardware maker’s stock valued at $1,999,620,000 after buying an additional 2,212,941 shares during the last quarter. 62.58% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Down 5.3 %

Shares of NASDAQ NVDA opened at $125.61 on Friday. NVIDIA Co. has a 1 year low of $124.28 and a 1 year high of $346.47. The firm has a market cap of $312.77 billion, a price-to-earnings ratio of 41.18, a PEG ratio of 4.35 and a beta of 1.69. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.11 and a current ratio of 3.62. The stock’s 50-day simple moving average is $162.82 and its 200-day simple moving average is $185.71.

NVIDIA (NASDAQ:NVDAGet Rating) last announced its earnings results on Wednesday, August 24th. The computer hardware maker reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). NVIDIA had a return on equity of 36.83% and a net margin of 26.03%. The business had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $6.70 billion. During the same period in the previous year, the firm posted $0.89 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts anticipate that NVIDIA Co. will post 2.49 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced 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. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date is Wednesday, September 7th. NVIDIA’s payout ratio is 5.25%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NVDA shares. Susquehanna lowered their target price on NVIDIA from $200.00 to $190.00 and set a “positive” rating on the stock in a report on Wednesday. Sanford C. Bernstein decreased their price objective on NVIDIA from $210.00 to $180.00 in a report on Thursday, September 1st. Cowen decreased their price objective on NVIDIA from $350.00 to $265.00 in a report on Thursday, May 26th. Robert W. Baird decreased their price objective on NVIDIA from $150.00 to $135.00 and set a “neutral” rating on the stock in a report on Thursday, August 25th. Finally, Atlantic Securities decreased their price objective on NVIDIA to $205.00 in a report on Thursday, May 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $214.91.

NVIDIA Profile

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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.

Further Reading

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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