AEGON ASSET MANAGEMENT UK Plc Has $593.20 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

AEGON ASSET MANAGEMENT UK Plc cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,882,730 shares of the computer hardware maker’s stock after selling 281,518 shares during the period. NVIDIA accounts for approximately 8.1% of AEGON ASSET MANAGEMENT UK Plc’s holdings, making the stock its 2nd biggest holding. AEGON ASSET MANAGEMENT UK Plc’s holdings in NVIDIA were worth $593,203,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NVDA. CGC Financial Services LLC bought a new position in shares of NVIDIA during the second quarter worth about $26,000. Quest Partners LLC bought a new position in NVIDIA during the 2nd quarter worth $27,000. Christopher J. Hasenberg Inc acquired a new stake in NVIDIA during the third quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new position in NVIDIA in the 2nd quarter valued at about $31,000. Finally, FPC Investment Advisory Inc. lifted its holdings in shares of NVIDIA by 900.0% in the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock worth $34,000 after acquiring an additional 261 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Up 3.7 %

NVIDIA stock opened at $139.67 on Tuesday. The business has a fifty day moving average of $139.63 and a two-hundred day moving average of $127.36. The firm has a market cap of $3.42 trillion, a P/E ratio of 54.97, a P/E/G ratio of 2.43 and a beta of 1.63. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a twelve month low of $47.32 and a twelve month high of $152.89.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the prior year, the firm earned $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. On average, analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

NVIDIA declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wedbush upped their price target on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Melius Research increased their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Morgan Stanley increased their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Barclays upped their price target on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, Mizuho raised their price objective on NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine 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 company has an average rating of “Moderate Buy” and an average price target of $164.15.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 40,000 shares of NVIDIA stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $121.01, for a total value of $4,840,400.00. Following the sale, the director now directly owns 8,380,117 shares of the company’s stock, valued at $1,014,077,958.17. This trade represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,391,886 shares of company stock valued at $181,666,050. 4.23% of the stock is currently owned by insiders.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The 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; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.