JW Asset Management LLC Increases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

JW Asset Management LLC lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 3.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 292,250 shares of the computer hardware maker’s stock after purchasing an additional 11,000 shares during the quarter. NVIDIA comprises 16.0% of JW Asset Management LLC’s investment portfolio, making the stock its 2nd largest position. JW Asset Management LLC’s holdings in NVIDIA were worth $35,491,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Ontario Teachers Pension Plan Board lifted its position in shares of NVIDIA by 1.3% during the third quarter. Ontario Teachers Pension Plan Board now owns 209,655 shares of the computer hardware maker’s stock valued at $25,461,000 after buying an additional 2,725 shares during the last quarter. Value Aligned Research Advisors LLC raised its stake in shares of NVIDIA by 97.3% during the 3rd quarter. Value Aligned Research Advisors LLC now owns 43,003 shares of the computer hardware maker’s stock worth $5,762,000 after acquiring an additional 21,209 shares in the last quarter. Etfidea LLC lifted its position in NVIDIA by 2.4% during the third quarter. Etfidea LLC now owns 6,731 shares of the computer hardware maker’s stock valued at $817,000 after acquiring an additional 160 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in NVIDIA by 3.0% in the third quarter. First Horizon Advisors Inc. now owns 81,217 shares of the computer hardware maker’s stock valued at $9,863,000 after acquiring an additional 2,374 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in NVIDIA by 13.3% in the third quarter. Advisors Asset Management Inc. now owns 180,476 shares of the computer hardware maker’s stock worth $21,917,000 after purchasing an additional 21,199 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Price Performance

NVIDIA stock opened at $149.43 on Tuesday. The stock has a market capitalization of $3.66 trillion, a P/E ratio of 58.81, a P/E/G ratio of 2.43 and a beta of 1.64. The company’s fifty day moving average price is $139.75 and its 200 day moving average price is $128.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a 1 year low of $49.48 and a 1 year high of $152.89.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the business earned $0.38 earnings per share. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current fiscal 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 given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Analyst Ratings Changes

Several analysts have recently commented on the company. UBS Group increased their price objective on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Evercore ISI increased their price target on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Susquehanna boosted their price target on NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Barclays upped their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Finally, Piper Sandler lifted their target price on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Four equities research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the transaction, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’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 sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,226,886 shares of company stock valued at $161,499,400 over the last ninety days. Insiders own 4.23% of the company’s stock.

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.