Diamant Asset Management Inc. Buys New Stake in NVIDIA Co. (NASDAQ:NVDA)

Diamant Asset Management Inc. bought a new stake in NVIDIA Co. (NASDAQ:NVDA) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 2,030 shares of the computer hardware maker’s stock, valued at approximately $247,000.

A number of other hedge funds have also recently modified their holdings of NVDA. Ironwood Wealth Management LLC. grew its position 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 purchasing an additional 5,695 shares during the last quarter. Financial Guidance Group Inc. grew its position in NVIDIA by 900.0% during the 2nd quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock worth $445,000 after purchasing an additional 3,240 shares during the last quarter. Tobam grew its position in NVIDIA by 811.4% during the 2nd quarter. Tobam now owns 41,489 shares of the computer hardware maker’s stock worth $5,126,000 after purchasing an additional 36,937 shares during the last quarter. Great Diamond Partners LLC grew its position in NVIDIA by 859.1% during the 2nd quarter. Great Diamond Partners LLC now owns 54,995 shares of the computer hardware maker’s stock worth $6,794,000 after purchasing an additional 49,261 shares during the last quarter. Finally, Rather & Kittrell Inc. grew its position in NVIDIA by 947.4% during the 2nd quarter. Rather & Kittrell Inc. now owns 6,777 shares of the computer hardware maker’s stock worth $837,000 after purchasing an additional 6,130 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is owned by company insiders.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $140.83 on Wednesday. The company has a market cap of $3.45 trillion, a PE ratio of 55.42, a price-to-earnings-growth ratio of 2.48 and a beta of 1.64. NVIDIA Co. has a 12 month low of $58.58 and a 12 month high of $153.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a 50-day simple moving average of $138.84 and a 200-day simple moving average of $129.11.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 earnings per share. On average, equities analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on NVDA shares. Rosenblatt Securities reissued a “buy” rating and set a $220.00 price objective on shares of NVIDIA in a research report on Wednesday, January 8th. TD Cowen raised their target price on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Morgan Stanley raised their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Oppenheimer restated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Finally, Stifel Nicolaus raised their target price on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.63.

About NVIDIA

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.