NVIDIA Co. (NASDAQ:NVDA) Becomes Ferguson Wellman Capital Management Inc.'s 4th Largest Investment

During the third quarter, Ferguson Wellman Capital Management Inc. reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 6.6%. According to reports, the fund now holds 1,818,489 shares after selling 128,626 shares during the quarter. This reduction means that NVIDIA represents around 4.3% of Ferguson Wellman's overall portfolio, making it their fourth-largest investment. As of the latest reporting period, those holdings in NVIDIA are valued at approximately $220,837,000.

Other institutional investors and hedge funds have also been active in adjusting their positions in NVIDIA recently. For instance, Legal & General Group Plc increased its holdings by a staggering 884.0% in the previous quarter. Now, they own 213,127,959 shares valued at approximately $26.33 billion after acquiring an additional 191,469,114 shares. Similarly, the Bank of New York Mellon Corp raised its stake by 854.1%, bringing its total to 182,622,629 shares valued at about $22.56 billion following a purchase of 163,482,580 shares. Ameriprise Financial Inc. enhanced its investment by 870.3%, now owning 102,422,225 shares valued at $12.66 billion, after buying an additional 91,867,031 shares during the period.

Analyst Ratings and Price Targets

Several research analysts have updated their price targets for NVIDIA shares. The Goldman Sachs Group recently increased its price target from $150 to $165, giving the stock a “buy” rating. Wedbush also raised its target from $160 to $175 with an “outperform” rating. In a similar move, Citigroup lifted its target from $170 to $175, while Evercore ISI increased its estimate from $189 to $190, maintaining an “outperform” rating. Finally, JPMorgan Chase raised its price target from $155 to $170 and rated the stock as “overweight.” Currently, four analysts have a hold rating on NVIDIA, thirty-nine have classified it as a buy, and one has given it a strong buy rating. Data from MarketBeat.com indicates that NVIDIA holds an average rating of "Moderate Buy" with an average price target of $164.15.

NVIDIA Stock Performance Overview

NVIDIA's stock, trading under the symbol NVDA, opened at $137.49. The company has a 50-day moving average of $139.84 and a 200-day moving average of $128.03. It reached a 12-month low of $47.32 and a high of $152.89. NVIDIA currently holds a market capitalization of $3.37 trillion, with a price-to-earnings ratio of 54.11, a PEG ratio of 2.43, and a beta of 1.63. Its liquidity ratios include a quick ratio of 3.64 and a current ratio of 4.10, along with a debt-to-equity ratio standing at 0.13.

On November 20th, NVIDIA reported its latest earnings, showing an earnings per share (EPS) of $0.81, surpassing analysts’ expectations of $0.69 by $0.12. The company achieved a return on equity of 114.83% and a net margin of 55.69%. NVIDIA's revenue for the quarter was approximately $35.08 billion, exceeding analysts' forecasts of $33.15 billion and reflecting a significant year-over-year increase of 93.6% more than the previous year.

NVIDIA's Dividend Declaration

NVIDIA also announced a recent quarterly dividend that was distributed on December 27th. Shareholders who were on record as of December 5th received a dividend of $0.01 per share. This totals a $0.04 annual dividend, translating to a dividend yield of 0.03%. The ex-dividend date was December 5th, and as of now, NVIDIA’s dividend payout ratio is 1.57%.

Recent Insider Transactions

In related news, the Chief Financial Officer, Colette Kress, sold 66,670 shares of NVIDIA on December 13th at an average price of $135.40, generating total proceeds of $9,027,118. Following this transaction, she owns approximately 3,351,572 shares valued at around $453.8 million, marking a 1.95% decrease in her holdings. Additionally, Director Tench Coxe sold 1,000,000 shares on December 16th at an average price of $131.26, totaling about $131.26 million. Following this sale, Coxe retains ownership of 28,671,360 shares valued at approximately $3.76 billion, representing a 3.37% reduction in his stake. Over the past 90 days, insiders have sold 1,351,886 shares valued at $176.83 million. Currently, company insiders own about 4.23% of NVIDIA's stock.

About NVIDIA Corporation

NVIDIA Corporation is a global leader in providing graphics, compute, and networking solutions. Their range of products includes GeForce GPUs for gaming, the GeForce NOW game streaming service, automotive platforms for infotainment systems, and their innovative Omniverse software used in developing metaverse applications. The company operates in various regions, including the United States, Taiwan, China, and Hong Kong.

NVIDIA, Investments, Stocks