NVIDIA Co. (NASDAQ:NVDA) Stock Position Increased by JAT Capital Mgmt LP

JAT Capital Mgmt LP lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 206.8% in the third quarter, HoldingsChannel reports. The firm owned 287,717 shares of the computer hardware maker’s stock after acquiring an additional 193,927 shares during the period. NVIDIA makes up about 5.6% of JAT Capital Mgmt LP’s portfolio, making the stock its 5th biggest holding. JAT Capital Mgmt LP’s holdings in NVIDIA were worth $34,940,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Ironwood Wealth Management LLC. lifted its stake in shares of NVIDIA by 896.9% during the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after buying an additional 5,695 shares during the period. Financial Guidance Group Inc. boosted its holdings in shares of NVIDIA by 900.0% during the second 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. Optas LLC grew its position in shares of NVIDIA by 930.2% in the second quarter. Optas LLC now owns 115,412 shares of the computer hardware maker’s stock valued at $14,258,000 after purchasing an additional 104,209 shares during the period. Independence Bank of Kentucky increased its stake in NVIDIA by 910.6% in the second quarter. Independence Bank of Kentucky now owns 56,815 shares of the computer hardware maker’s stock valued at $7,019,000 after purchasing an additional 51,193 shares during the last quarter. Finally, Keb Asset Management LLC lifted its position in NVIDIA by 1,118.6% during the second quarter. Keb Asset Management LLC now owns 2,815 shares of the computer hardware maker’s stock worth $348,000 after buying an additional 2,584 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Citigroup upped their price target on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Mizuho upped their price objective on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Wedbush lifted their target price on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Stifel Nicolaus upped their price target on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Raymond James raised their price objective on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.27.

NVIDIA Stock Down 1.1 %

Shares of NASDAQ NVDA opened at $131.76 on Wednesday. The firm’s 50 day simple moving average is $139.68 and its two-hundred day simple moving average is $128.82. NVIDIA Co. has a one year low of $54.74 and a one year high of $153.13. The stock has a market capitalization of $3.23 trillion, a P/E ratio of 51.85, a PEG ratio of 2.43 and a beta of 1.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for 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 earned $0.38 EPS. As a group, analysts expect that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now owns 480,899 shares in the company, valued at approximately $65,056,016.72. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have 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.