Man Group plc Grows Stock Position in NVIDIA Co. (NASDAQ:NVDA)
Man Group plc grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 613.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 204,885 shares of the computer hardware maker’s stock after acquiring an additional 176,179 shares during the quarter. Man Group plc’s holdings in NVIDIA were worth $48,209,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in NVDA. GQG Partners LLC purchased a new stake in NVIDIA in the fourth quarter worth $572,319,000. Johanson Financial Advisors Inc. increased its stake in NVIDIA by 21,911.1% in the fourth quarter. Johanson Financial Advisors Inc. now owns 641,184 shares of the computer hardware maker’s stock worth $2,721,000 after purchasing an additional 638,271 shares during the period. Manning & Napier Group LLC increased its stake in NVIDIA by 1,438.4% in the fourth quarter. Manning & Napier Group LLC now owns 611,145 shares of the computer hardware maker’s stock worth $143,801,000 after purchasing an additional 571,420 shares during the period. Westfield Capital Management Co. LP purchased a new stake in NVIDIA in the fourth quarter worth $84,356,000. Finally, Maplelane Capital LLC increased its stake in NVIDIA by 125.0% in the fourth quarter. Maplelane Capital LLC now owns 70,001 shares of the computer hardware maker’s stock worth $16,471,000 after purchasing an additional 350,000 shares during the period. Institutional investors and hedge funds own 66.70% of the company’s stock.
A number of analysts have weighed in on NVDA shares. Edward Jones started coverage on NVIDIA in a research note on Friday, December 20th. They issued a “hold” rating on the stock. Goldman Sachs Group reiterated a “buy” rating on shares of NVIDIA in a research note on Tuesday, February 18th. Barclays restated a “buy” rating and set a $300.00 price target on shares of NVIDIA in a research note on Friday, February 14th. SunTrust Banks raised their price target on NVIDIA from $273.00 to $314.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, UBS Group raised their price target on NVIDIA from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirty-two have given a buy rating to the company. NVIDIA presently has an average rating of “Buy” and an average price target of $274.71.
NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, February 13th. The computer hardware maker reported $1.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.22. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. NVIDIA had a return on equity of 26.08% and a net margin of 25.60%. During the same period in the previous year, the company posted $0.80 earnings per share. As a group, analysts expect that NVIDIA Co. will post 6.37 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, February 28th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date was Thursday, February 27th. NVIDIA’s dividend payout ratio is presently 13.94%.
In other NVIDIA news, Director Persis Drell sold 160 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $315.73, for a total transaction of $50,516.80. Following the transaction, the director now owns 17,859 shares of the company’s stock, valued at $5,638,622.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director A Brooke Seawell sold 20,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $287.91, for a total value of $5,758,200.00. Following the transaction, the director now directly owns 20,629 shares in the company, valued at approximately $5,939,295.39. The disclosure for this sale can be found here. Insiders sold 48,160 shares of company stock worth $12,214,957 over the last ninety days. Corporate insiders own 4.64% of the company’s stock.
NVIDIA Company Profile
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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