OFI Invest Asset Management Acquires New Shares in NVIDIA Co. (NASDAQ:NVDA)

OFI Invest Asset Management bought a new stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,707,234 shares of the computer hardware maker's stock, valued at approximately $351,110,000. NVIDIA accounts for 8.3% of OFI Invest Asset Management's portfolio, making the stock its biggest position.

Several other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of NVIDIA by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker's stock worth $66,101,133,000 after acquiring an additional 11,525,969 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in NVIDIA by 3.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker's stock worth $21,908,236,000 after buying an additional 6,526,200 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in NVIDIA by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 151,280,130 shares of the computer hardware maker's stock valued at $20,315,409,000 after purchasing an additional 5,211,040 shares during the period. Amundi increased its position in NVIDIA by 12.9% during the 4th quarter. Amundi now owns 117,036,612 shares of the computer hardware maker's stock valued at $16,394,224,000 after purchasing an additional 13,406,054 shares during the period. Finally, Fisher Asset Management LLC grew its position in shares of NVIDIA by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 98,339,379 shares of the computer hardware maker's stock worth $13,205,995,000 after buying an additional 1,618,672 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Down 4.1 %

Shares of NVDA stock traded down $4.24 during mid-day trading on Thursday, reaching $100.25. The stock had a trading volume of 66,917,396 shares, compared to its average volume of 312,473,656. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock's 50-day moving average price is $117.83 and its two-hundred day moving average price is $130.03. The firm has a market capitalization of $2.45 trillion, a PE ratio of 39.56, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a 52-week low of $75.61 and a 52-week high of $195.95.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.05. The business had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. Equities analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA's payout ratio is currently 1.36%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Stifel Nicolaus set a $180.00 target price on NVIDIA in a research report on Wednesday, March 19th. DA Davidson reduced their price objective on shares of NVIDIA from $125.00 to $120.00 and set a "neutral" rating for the company in a research report on Monday. Raymond James reiterated a "strong-buy" rating on shares of NVIDIA in a research note on Wednesday. Benchmark reissued a "buy" rating and set a $190.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Wedbush restated an "outperform" rating and set a $175.00 price target on shares of NVIDIA in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $165.64.

Insiders Place Their Bets

In related news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the sale, the director now directly owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the transaction, the director now owns 251,044 shares of the company's stock, valued at approximately $28,993,071.56. The trade was a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,147 shares of company stock worth $17,133,207 over the last three months. Company insiders own 4.23% of the company's stock.

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.