Principal Financial Group Inc. Has $221.26 Million Position in NVIDIA Co. (NASDAQ:NVDA)
Principal Financial Group Inc. reduced its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1.0% in the 1st quarter, Holdings Channel reports. The firm owned 1,232,226 shares of the computer hardware maker’s stock after selling 12,877 shares during the quarter. Principal Financial Group Inc.’s holdings in NVIDIA were worth $221,258,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc increased its stake in NVIDIA by 4.0% during the third quarter. Vanguard Group Inc now owns 44,464,641 shares of the computer hardware maker’s stock worth $12,495,455,000 after acquiring an additional 1,693,736 shares during the last quarter. BB&T Securities LLC increased its stake in NVIDIA by 53.0% during the fourth quarter. BB&T Securities LLC now owns 20,009 shares of the computer hardware maker’s stock worth $2,671,000 after acquiring an additional 6,928 shares during the last quarter. Financial Gravity Companies Inc. acquired a new stake in NVIDIA during the fourth quarter worth about $58,000. Patriot Financial Group Insurance Agency LLC increased its stake in NVIDIA by 227.6% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 901 shares of the computer hardware maker’s stock worth $120,000 after acquiring an additional 626 shares during the last quarter. Finally, Parkside Investments LLC increased its stake in NVIDIA by 50.0% during the fourth quarter. Parkside Investments LLC now owns 1,500 shares of the computer hardware maker’s stock worth $200,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 67.56% of the company’s stock.
NVDA has been the subject of several analyst reports. TheStreet raised NVIDIA from a “c+” rating to a “b-” rating in a research report on Thursday, April 4th. BidaskClub raised NVIDIA from a “buy” rating to a “strong-buy” rating in a report on Friday, April 5th. DZ Bank downgraded NVIDIA to a “sell” rating and set a $170.00 price target for the company. in a report on Friday, April 12th. Nomura started coverage on NVIDIA in a report on Tuesday, April 2nd. They issued a “neutral” rating and a $147.00 price target for the company. Finally, Zacks Investment Research raised NVIDIA from a “strong sell” rating to a “hold” rating in a report on Monday, April 1st. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $198.38.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, May 16th. The computer hardware maker reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.20 billion. NVIDIA had a return on equity of 31.27% and a net margin of 30.68%. The business’s quarterly revenue was down 30.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.05 EPS. Sell-side analysts predict that NVIDIA Co. will post 4.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, May 31st will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Thursday, May 30th. NVIDIA’s payout ratio is 10.54%.
In other NVIDIA news, CFO Colette Kress sold 14,092 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $183.33, for a total transaction of $2,583,486.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Debora Shoquist sold 5,823 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $185.00, for a total value of $1,077,255.00. Following the transaction, the executive vice president now directly owns 171,783 shares of the company’s stock, valued at $31,779,855. The disclosure for this sale can be found here. 4.64% of the stock is currently owned by corporate insiders.
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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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