2,704 Shares in NVIDIA Co. (NASDAQ:NVDA) Purchased by Olympiad Research LP

Olympiad Research LP acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 2,704 shares of the computer hardware maker’s stock, valued at approximately $328,000.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in NVIDIA by 3.7% in the third quarter. Principal Financial Group Inc. now owns 35,627,274 shares of the computer hardware maker’s stock worth $4,326,576,000 after buying an additional 1,285,897 shares during the last quarter. Montecito Bank & Trust grew its stake in shares of NVIDIA by 0.6% during the 3rd quarter. Montecito Bank & Trust now owns 221,735 shares of the computer hardware maker’s stock worth $26,927,000 after acquiring an additional 1,231 shares during the period. Woodmont Investment Counsel LLC increased its holdings in NVIDIA by 2.4% in the 3rd quarter. Woodmont Investment Counsel LLC now owns 17,669 shares of the computer hardware maker’s stock worth $2,146,000 after acquiring an additional 422 shares during the last quarter. David J Yvars Group increased its holdings in NVIDIA by 1.9% in the 3rd quarter. David J Yvars Group now owns 110,907 shares of the computer hardware maker’s stock worth $13,469,000 after acquiring an additional 2,065 shares during the last quarter. Finally, Bridgewater Advisors Inc. raised its stake in NVIDIA by 3.9% in the 3rd quarter. Bridgewater Advisors Inc. now owns 122,584 shares of the computer hardware maker’s stock valued at $14,887,000 after acquiring an additional 4,601 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Up 3.1 %

NVDA opened at $134.70 on Friday. NVIDIA Co. has a 12 month low of $47.32 and a 12 month high of $152.89. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $139.63 and its 200-day moving average price is $127.32. The company has a market cap of $3.30 trillion, a P/E ratio of 53.01, a P/E/G ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last announced 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 for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. On average, equities analysts expect that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.57%.

NVIDIA announced that its Board of Directors has approved a stock buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

NVDA has been the subject of several recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Melius Research raised their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. HSBC boosted their target price on shares of NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Needham & Company LLC raised their price target on NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. Four 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the sale, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,556,986 shares of company stock valued at $201,687,727 in the last quarter. Insiders own 4.23% of the company’s stock.

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.