Newfound Research LLC Raises Holdings in NVIDIA Co. (NASDAQ:NVDA)

Newfound Research LLC lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 145.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324 shares of the computer hardware maker’s stock after purchasing an additional 192 shares during the period. Newfound Research LLC’s holdings in NVIDIA were worth $67,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in NVDA. Engine NO. 1 LLC acquired a new position in shares of NVIDIA in the 2nd quarter valued at $1,587,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of NVIDIA by 8.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 28,615 shares of the computer hardware maker’s stock valued at $22,895,000 after purchasing an additional 2,170 shares during the last quarter. Fulton Bank N.A. lifted its holdings in shares of NVIDIA by 291.0% during the 3rd quarter. Fulton Bank N.A. now owns 54,154 shares of the computer hardware maker’s stock valued at $11,219,000 after acquiring an additional 40,303 shares in the last quarter. Wall Street Access Asset Management LLC acquired a new position in shares of NVIDIA during the 2nd quarter valued at $223,000. Finally, Ipswich Investment Management Co. Inc. lifted its holdings in shares of NVIDIA by 287.5% during the 3rd quarter. Ipswich Investment Management Co. Inc. now owns 17,331 shares of the computer hardware maker’s stock valued at $3,590,000 after acquiring an additional 12,859 shares in the last quarter. 19.24% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Mark A. Stevens sold 58,000 shares of the stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $342.58, for a total transaction of $19,869,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Persis Drell sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 19th. The shares were sold at an average price of $326.65, for a total transaction of $3,266,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,000 shares of company stock valued at $25,222,940. Company insiders own 4.47% of the company’s stock.

Several equities analysts recently weighed in on NVDA shares. Truist lifted their target price on shares of NVIDIA from $360.00 to $389.00 and gave the company a “buy” rating in a report on Thursday, November 18th. Needham & Company LLC lifted their price target on shares of NVIDIA from $245.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, November 18th. Piper Sandler lifted their price target on shares of NVIDIA from $260.00 to $350.00 and gave the stock an “overweight” rating in a research note on Thursday, November 18th. Robert W. Baird lifted their price target on shares of NVIDIA from $240.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday, November 15th. Finally, Sanford C. Bernstein set a $360.00 price target on shares of NVIDIA in a research note on Thursday, November 18th. Three equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $326.78.

NVIDIA stock traded up $9.28 during midday trading on Thursday, reaching $326.74. 43,469,906 shares of the stock traded hands, compared to its average volume of 34,447,004. The firm has a fifty day moving average price of $248.30 and a two-hundred day moving average price of $210.84. The firm has a market cap of $814.24 billion, a price-to-earnings ratio of 116.48, a PEG ratio of 4.45 and a beta of 1.46. NVIDIA Co. has a fifty-two week low of $115.67 and a fifty-two week high of $346.47. The company has a current ratio of 5.80, a quick ratio of 5.33 and a debt-to-equity ratio of 0.52.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 17th. The computer hardware maker reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.06. NVIDIA had a net margin of 32.33% and a return on equity of 40.88%. During the same period last year, the company posted $0.60 earnings per share. Analysts anticipate that NVIDIA Co. will post 3.49 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 23rd. Stockholders of record on Thursday, December 2nd will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.05%. The ex-dividend date of this dividend is Wednesday, December 1st. NVIDIA’s dividend payout ratio is currently 5.70%.

About NVIDIA

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment comprises of product brands, which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.

Featured Article: What is an Initial Public Offering (IPO)?

Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Co. (NASDAQ:NVDA).

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.