NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 271.3% during the 3rd quarter, Holdings Channel reports. The fund owned 590,362 shares of the computer hardware maker’s stock after buying an additional 431,364 shares during the quarter. NVIDIA accounts for about 4.9% of Point72 Hong Kong Ltd’s investment portfolio, making the stock its 2nd biggest holding. Point72 Hong Kong Ltd’s holdings in NVIDIA were worth $71,694,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of NVDA. Ironwood Wealth Management LLC. raised its stake in NVIDIA by 896.9% during the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock worth $782,000 after buying an additional 5,695 shares during the period. Financial Guidance Group Inc. increased its holdings in shares of NVIDIA by 900.0% in the second quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock worth $445,000 after acquiring an additional 3,240 shares in the last quarter. Rooted Wealth Advisors Inc. raised its position in shares of NVIDIA by 907.3% during the second quarter. Rooted Wealth Advisors Inc. now owns 14,576 shares of the computer hardware maker’s stock worth $1,765,000 after purchasing an additional 13,129 shares during the period. New Millennium Group LLC lifted its holdings in shares of NVIDIA by 975.1% during the 2nd quarter. New Millennium Group LLC now owns 147,763 shares of the computer hardware maker’s stock valued at $18,255,000 after purchasing an additional 134,019 shares in the last quarter. Finally, Roger Wittlin Investment Advisory LLC increased its stake in NVIDIA by 900.0% during the 2nd quarter. Roger Wittlin Investment Advisory LLC now owns 2,470 shares of the computer hardware maker’s stock worth $305,000 after purchasing an additional 2,223 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $220.00 price target on shares of NVIDIA in a report on Wednesday, January 8th. Citigroup upped their target price on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. JPMorgan Chase & Co. increased their price objective on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, Bank of America restated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.27.

NVIDIA Stock Up 3.5 %

NVIDIA stock opened at $136.32 on Thursday. The company’s 50-day moving average price is $139.68 and its two-hundred day moving average price is $128.82. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.34 trillion, a P/E ratio of 53.65, a P/E/G ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a twelve month low of $54.74 and a twelve month high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. As a group, analysts expect that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

Insider Activity

In other NVIDIA news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is owned by company insiders.

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.