NVIDIA Co. (NASDAQ:NVDA) Position Boosted by USS Investment Management Ltd

USS Investment Management Ltd increased its position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 1.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,398,295 shares of the computer hardware maker's stock after purchasing an additional 49,263 shares during the quarter. NVIDIA makes up approximately 4.3% of USS Investment Management Ltd's investment portfolio, making the stock its 3rd largest position. USS Investment Management Ltd's holdings in NVIDIA were worth $590,559,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in NVIDIA in the 4th quarter valued at $43,515,504,000. Northern Trust Corp grew its holdings in NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after buying an additional 36,266,817 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in NVIDIA by 14,641.2% in the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock valued at $4,656,682,000 after buying an additional 34,441,082 shares in the last quarter. Capital International Investors grew its holdings in NVIDIA by 34.7% in the 4th quarter. Capital International Investors now owns 62,883,868 shares of the computer hardware maker's stock valued at $8,445,182,000 after buying an additional 16,189,550 shares in the last quarter. Finally, APG Asset Management N.V. grew its holdings in NVIDIA by 493.2% in the 4th quarter. APG Asset Management N.V. now owns 18,415,785 shares of the computer hardware maker's stock valued at $2,388,272,000 after buying an additional 15,311,330 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NVDA shares. DA Davidson increased their price target on NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. TD Cowen increased their target price on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Needham & Company LLC reissued a "buy" rating and set a $160.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. Morgan Stanley reissued an "overweight" rating and set a $170.00 target price (up previously from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Finally, DZ Bank raised NVIDIA from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $171.66.

NVIDIA Stock Performance

NASDAQ:NVDA traded up $0.70 during mid-day trading on Wednesday, reaching $141.92. 166,543,405 shares of the stock were exchanged, compared to its average volume of 282,361,906. The company has a 50 day simple moving average of $117.19 and a 200-day simple moving average of $126.42. The stock has a market capitalization of $3.46 trillion, a P/E ratio of 55.85, a P/E/G ratio of 1.76 and a beta of 2.12. 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 1 year low of $86.62 and a 1 year high of $195.95.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same quarter in the prior year, the business earned $0.61 EPS. The company's quarterly revenue was up 69.2% compared to the same quarter last year. Analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA's dividend payout ratio is currently 1.29%.

Insider Buying and Selling

In other news, CFO Colette Kress sold 66,660 shares of the business's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now directly owns 3,085,765 shares of the company's stock, valued at $360,509,924.95. The trade was a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John Dabiri sold 2,663 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now owns 17,279 shares in the company, valued at $1,900,690. This represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,257,983 shares of company stock valued at $172,973,349. 4.17% of the stock is 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.