271,104 Shares in NVIDIA Co. (NASDAQ:NVDA) Bought by Clearline Capital LP

Clearline Capital LP acquired a new position in NVIDIA Co. (NASDAQ:NVDA) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 271,104 shares of the computer hardware maker’s stock, valued at approximately $32,923,000. NVIDIA accounts for approximately 1.4% of Clearline Capital LP’s investment portfolio, making the stock its 5th biggest position.

Several other institutional investors have also recently added to or reduced their stakes in the business. Coastwise Capital Group LLC lifted its holdings in shares of NVIDIA by 9.9% in the 3rd quarter. Coastwise Capital Group LLC now owns 38,158 shares of the computer hardware maker’s stock worth $4,634,000 after purchasing an additional 3,426 shares during the last quarter. Arrowroot Family Office LLC increased its position in NVIDIA by 5.7% in the third quarter. Arrowroot Family Office LLC now owns 4,594 shares of the computer hardware maker’s stock worth $558,000 after buying an additional 247 shares during the period. Ascent Group LLC increased its position in NVIDIA by 4.3% in the third quarter. Ascent Group LLC now owns 257,734 shares of the computer hardware maker’s stock worth $31,299,000 after buying an additional 10,689 shares during the period. Aspex Management HK Ltd bought a new stake in NVIDIA in the third quarter valued at $308,108,000. Finally, Beacon Investment Advisory Services Inc. boosted its holdings in shares of NVIDIA by 4.5% during the third quarter. Beacon Investment Advisory Services Inc. now owns 352,004 shares of the computer hardware maker’s stock valued at $42,747,000 after acquiring an additional 15,087 shares during the period. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In other news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on 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 directly owns 480,899 shares in the company, valued at $65,056,016.72. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NVDA shares. Loop Capital reiterated a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft lifted their price target on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Wedbush increased their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Redburn Atlantic initiated coverage on NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price on the stock. Finally, TD Cowen increased their price target on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $164.27.

NVIDIA Trading Up 3.5 %

NASDAQ:NVDA opened at $136.32 on Thursday. The stock’s 50-day moving average is $139.68 and its two-hundred day moving average is $128.82. 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 stock has a market cap of $3.34 trillion, a PE ratio of 53.65, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a fifty-two week low of $54.74 and a fifty-two week high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. The firm’s revenue was up 93.6% on a year-over-year basis. As a group, equities research analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were paid 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 payout ratio is 1.57%.

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.