The Manufacturers Life Insurance Company Acquires 579,886 Shares of NVIDIA Co. (NASDAQ:NVDA)

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The Manufacturers Life Insurance Company boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 104.8% during the first quarter, HoldingsChannel reports. The firm owned 1,133,052 shares of the computer hardware maker’s stock after acquiring an additional 579,886 shares during the period. The Manufacturers Life Insurance Company’s holdings in NVIDIA were worth $203,450,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NVDA. Neuberger Berman Group LLC increased its position in NVIDIA by 23.7% during the first quarter. Neuberger Berman Group LLC now owns 213,469 shares of the computer hardware maker’s stock valued at $38,330,000 after acquiring an additional 40,946 shares during the last quarter. Banco Santander S.A. increased its position in NVIDIA by 30.1% during the first quarter. Banco Santander S.A. now owns 87,884 shares of the computer hardware maker’s stock valued at $15,780,000 after acquiring an additional 20,358 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC bought a new position in NVIDIA during the first quarter valued at $465,000. Northern Trust Corp increased its position in NVIDIA by 1.4% during the first quarter. Northern Trust Corp now owns 6,952,640 shares of the computer hardware maker’s stock valued at $1,248,416,000 after acquiring an additional 94,198 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. increased its position in NVIDIA by 5.7% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 20,379 shares of the computer hardware maker’s stock valued at $3,659,000 after acquiring an additional 1,101 shares during the last quarter. 67.56% of the stock is currently owned by institutional investors.

A number of research analysts have recently commented on NVDA shares. Zacks Investment Research upgraded shares of NVIDIA from a “strong sell” rating to a “hold” rating in a report on Monday, April 1st. ValuEngine upgraded shares of NVIDIA from a “sell” rating to a “hold” rating in a report on Friday, March 1st. TheStreet upgraded shares of NVIDIA from a “c+” rating to a “b-” rating in a report on Thursday, April 4th. Needham & Company LLC restated a “sell” rating on shares of NVIDIA in a report on Tuesday, March 12th. Finally, UBS Group upped their price target on shares of NVIDIA to $210.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $198.38.

In other NVIDIA news, CFO Colette Kress sold 14,092 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $183.33, for a total transaction of $2,583,486.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Debora Shoquist sold 5,823 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $185.00, for a total transaction of $1,077,255.00. Following the sale, 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 owned by corporate insiders.

Shares of NVIDIA stock opened at $148.26 on Friday. The company has a current ratio of 8.98, a quick ratio of 7.78 and a debt-to-equity ratio of 0.25. NVIDIA Co. has a 1 year low of $124.46 and a 1 year high of $292.76. The stock has a market cap of $89.04 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 3.72 and a beta of 2.03.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Thursday, May 16th. The computer hardware maker reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.07. NVIDIA had a net margin of 30.68% and a return on equity of 31.27%. The company had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the prior year, the business earned $2.05 EPS. The firm’s quarterly revenue was down 30.8% on a year-over-year basis. As a group, equities research analysts forecast that NVIDIA Co. will post 4.19 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 31st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Thursday, May 30th. NVIDIA’s payout ratio is 10.54%.

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NVIDIA 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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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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