NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 819.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 15,556,015 shares of the computer hardware maker’s stock after buying an additional 13,864,392 shares during the quarter. NVIDIA makes up about 2.9% of AQR Capital Management LLC’s investment portfolio, making the stock its largest position. AQR Capital Management LLC’s holdings in NVIDIA were worth $1,921,790,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. FPC Investment Advisory Inc. bought a new stake in NVIDIA in the 1st quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA in the 1st quarter valued at about $27,000. HBC Financial Services PLLC bought a new stake in NVIDIA in the 1st quarter valued at about $30,000. Norwood Financial Corp bought a new stake in NVIDIA in the 1st quarter valued at about $45,000. Finally, Coston McIsaac & Partners lifted its position in NVIDIA by 231.3% in the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after purchasing an additional 37 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NVDA shares. KeyCorp lifted their price objective on shares of NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. DA Davidson restated a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Wedbush restated an “outperform” rating and set a $138.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Tuesday, August 6th. Finally, Morgan Stanley restated an “overweight” rating and set a $150.00 price target on shares of NVIDIA in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $143.07.

Insider Transactions at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,636,270 shares of company stock worth $305,367,927. 4.23% of the stock is owned by insiders.

NVIDIA Stock Performance

NVDA stock opened at $140.52 on Tuesday. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 65.91, a P/E/G ratio of 1.50 and a beta of 1.67. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $144.42. The firm has a 50 day moving average of $124.46 and a two-hundred day moving average of $114.81.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 earnings per share. As a group, equities analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s payout ratio is 1.88%.

NVIDIA declared that its board has approved a stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

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.