NVIDIA Co. (NASDAQ:NVDA) is Point72 Asia Singapore Pte. Ltd.’s Largest Position

Point72 Asia Singapore Pte. Ltd. lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 33,523.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,752 shares of the computer hardware maker’s stock after acquiring an additional 279,917 shares during the quarter. NVIDIA accounts for about 6.4% of Point72 Asia Singapore Pte. Ltd.’s holdings, making the stock its biggest position. Point72 Asia Singapore Pte. Ltd.’s holdings in NVIDIA were worth $34,095,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NVDA. Ironwood Wealth Management LLC. raised its holdings in shares of NVIDIA by 896.9% in the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock worth $782,000 after acquiring an additional 5,695 shares during the last quarter. Financial Guidance Group Inc. raised its position in shares of NVIDIA by 900.0% in the second quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock valued at $445,000 after buying an additional 3,240 shares during the last quarter. Rooted Wealth Advisors Inc. lifted its stake in shares of NVIDIA by 907.3% during the second quarter. Rooted Wealth Advisors Inc. now owns 14,576 shares of the computer hardware maker’s stock valued at $1,765,000 after buying an additional 13,129 shares during the period. New Millennium Group LLC raised its holdings in NVIDIA by 975.1% in the 2nd quarter. New Millennium Group LLC now owns 147,763 shares of the computer hardware maker’s stock valued at $18,255,000 after acquiring an additional 134,019 shares during the last quarter. Finally, Roger Wittlin Investment Advisory LLC grew its position in shares of NVIDIA by 900.0% in the second quarter. Roger Wittlin Investment Advisory LLC now owns 2,470 shares of the computer hardware maker’s stock valued at $305,000 after purchasing an additional 2,223 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on NVDA. William Blair began coverage on NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Robert W. Baird raised their target price on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Susquehanna upped their price target on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Citigroup lifted their price target on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Raymond James upped 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 investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $164.27.

Insider Activity at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the transaction, the insider now owns 480,899 shares in the company, valued at approximately $65,056,016.72. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock worth $146,506,958 over the last quarter. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Up 3.5 %

NASDAQ:NVDA opened at $136.32 on Thursday. NVIDIA Co. has a 52 week low of $54.74 and a 52 week high of $153.13. The firm has a market capitalization 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. 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 stock has a 50 day moving average of $139.68 and a 200-day moving average of $128.82.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping 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 firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. Analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

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

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.