Newfound Research LLC Boosts Position in NVIDIA Co. (NASDAQ:NVDA)

Newfound Research LLC boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 145.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 324 shares of the computer hardware maker’s stock after acquiring an additional 192 shares during the quarter. Newfound Research LLC’s holdings in NVIDIA were worth $67,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of NVDA. Marquette Asset Management LLC increased its position in NVIDIA by 300.0% in the third quarter. Marquette Asset Management LLC now owns 120 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 90 shares in the last quarter. Global Trust Asset Management LLC increased its position in NVIDIA by 300.0% in the third quarter. Global Trust Asset Management LLC now owns 124 shares of the computer hardware maker’s stock worth $26,000 after buying an additional 93 shares in the last quarter. PrairieView Partners LLC increased its position in NVIDIA by 300.0% in the third quarter. PrairieView Partners LLC now owns 200 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 150 shares in the last quarter. Regency Capital Management Inc. DE purchased a new stake in NVIDIA in the first quarter worth about $43,000. Finally, Perkins Coie Trust Co increased its position in NVIDIA by 151.7% in the third quarter. Perkins Coie Trust Co now owns 224 shares of the computer hardware maker’s stock worth $46,000 after buying an additional 135 shares in the last quarter. Institutional investors own 19.24% of the company’s stock.

A number of equities analysts have recently weighed in on the company. KeyCorp upped their price objective on NVIDIA from $260.00 to $350.00 and gave the stock an “overweight” rating in a research note on Thursday, November 18th. Raymond James upped their price objective on NVIDIA from $225.00 to $365.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 18th. They noted that the move was a valuation call. Piper Sandler upped their price objective on NVIDIA from $260.00 to $350.00 and gave the stock an “overweight” rating in a research note on Thursday, November 18th. Wedbush lowered NVIDIA from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $220.00 to $300.00 in a research note on Friday, November 12th. They noted that the move was a valuation call. Finally, UBS Group increased their price target on NVIDIA from $230.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, November 15th. Three analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $326.78.

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

NVDA traded up $9.28 on Thursday, reaching $326.74. 43,469,906 shares of the stock were exchanged, compared to its average volume of 34,447,004. The company’s 50-day moving average price is $248.30 and its 200 day moving average price is $210.84. NVIDIA Co. has a fifty-two week low of $115.67 and a fifty-two week high of $346.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.80 and a quick ratio of 5.33. The firm has a market capitalization of $814.24 billion, a PE ratio of 116.48, a PEG ratio of 4.45 and a beta of 1.46.

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

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 23rd. Shareholders of record on Thursday, December 2nd will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, December 1st. This represents a $0.16 dividend on an annualized basis and a yield of 0.05%. 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.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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