Lombard Odier Asset Management Europe Ltd Acquires 488,148 Shares of NVIDIA Co. (NASDAQ:NVDA)

Lombard Odier Asset Management Europe Ltd boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 1,106.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 532,285 shares of the computer hardware maker’s stock after acquiring an additional 488,148 shares during the quarter. NVIDIA accounts for 3.1% of Lombard Odier Asset Management Europe Ltd’s investment portfolio, making the stock its 3rd biggest position. Lombard Odier Asset Management Europe Ltd’s holdings in NVIDIA were worth $65,758,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVDA. Thompson Investment Management Inc. purchased a new position in NVIDIA in the first quarter valued at about $137,000. Twele Capital Management Inc. purchased a new position in NVIDIA in the first quarter valued at about $361,000. Diversified Investment Strategies LLC purchased a new position in NVIDIA in the first quarter valued at about $357,000. First Bancorp Inc ME raised its position in NVIDIA by 24.3% in the first quarter. First Bancorp Inc ME now owns 1,063 shares of the computer hardware maker’s stock valued at $960,000 after purchasing an additional 208 shares during the period. Finally, Arkfeld Wealth Strategies L.L.C. raised its position in NVIDIA by 72.3% in the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 2,530 shares of the computer hardware maker’s stock valued at $2,202,000 after purchasing an additional 1,062 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Loop Capital reaffirmed a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research report on Monday, August 26th. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Tuesday, August 6th. Westpark Capital lifted their target price on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. lifted their target price on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Craig Hallum boosted their price objective on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,636,270 shares of company stock worth $305,367,927. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $141.54 on Friday. The stock has a fifty day moving average price of $124.25 and a two-hundred day moving average price of $114.26. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The firm has a market cap of $3.48 trillion, a P/E ratio of 82.77, a PEG ratio of 1.52 and a beta of 1.67. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $144.42.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS. Research analysts forecast that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

NVIDIA announced that its board has initiated a share buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.