NVIDIA Co. (NASDAQ:NVDA) is Worldquant Millennium Advisors LLC’s 3rd Largest Position

Worldquant Millennium Advisors LLC raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 20.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,898,685 shares of the computer hardware maker’s stock after purchasing an additional 816,988 shares during the period. NVIDIA accounts for about 4.4% of Worldquant Millennium Advisors LLC’s holdings, making the stock its 3rd biggest position. Worldquant Millennium Advisors LLC’s holdings in NVIDIA were worth $594,896,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Weaver Consulting Group grew its position in shares of NVIDIA by 4.2% in the 3rd quarter. Weaver Consulting Group now owns 23,839 shares of the computer hardware maker’s stock valued at $2,895,000 after buying an additional 963 shares during the last quarter. Weiss Asset Management LP acquired a new position in NVIDIA in the third quarter valued at $31,925,000. Wills Financial Group Inc. grew its holdings in shares of NVIDIA by 4.6% during the third quarter. Wills Financial Group Inc. now owns 3,387 shares of the computer hardware maker’s stock worth $411,000 after purchasing an additional 150 shares during the last quarter. Taika Capital LP increased its position in shares of NVIDIA by 54.1% during the third quarter. Taika Capital LP now owns 44,760 shares of the computer hardware maker’s stock worth $5,436,000 after purchasing an additional 15,717 shares in the last quarter. Finally, Sora Investors LLC purchased a new stake in shares of NVIDIA in the 3rd quarter valued at about $18,216,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

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

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $137.71 on Friday. The business has a fifty day simple moving average of $138.99 and a 200-day simple moving average of $129.00. NVIDIA Co. has a 52 week low of $56.11 and a 52 week high of $153.13. The company has a market cap of $3.37 trillion, a P/E ratio of 54.20, a P/E/G ratio of 2.45 and a beta of 1.64. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s revenue was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS. Equities research analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have commented on NVDA. TD Cowen boosted their price objective on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Bank of America reiterated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. Loop Capital reaffirmed a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft boosted their price target on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. Finally, UBS Group increased their price objective on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $164.63.

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.