HighVista Strategies LLC Makes New $1.48 Million Investment in NVIDIA Co. (NASDAQ:NVDA)

HighVista Strategies LLC acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 12,000 shares of the computer hardware maker’s stock, valued at approximately $1,482,000.

A number of other hedge funds have also recently added to or reduced their stakes in NVDA. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA during the first quarter worth $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA in the 1st quarter valued at approximately $27,000. HBC Financial Services PLLC acquired a new position in NVIDIA during the 1st quarter worth approximately $30,000. Norwood Financial Corp purchased a new position in shares of NVIDIA during the 1st quarter worth approximately $45,000. Finally, Coston McIsaac & Partners lifted its holdings in shares of 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 buying an additional 37 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In other NVIDIA 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 transaction of $524,295.00. Following the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,636,270 shares of company stock valued at $305,367,927. Company insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of research reports. Westpark Capital lifted their price target on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price target on shares of NVIDIA in a report on Thursday, August 29th. DA Davidson restated a “neutral” rating and issued a $90.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Benchmark reaffirmed a “buy” rating and issued a $170.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Robert W. Baird increased their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

NVIDIA Trading Up 0.8 %

NVIDIA stock opened at $141.54 on Friday. The firm has a 50 day simple moving average of $124.25 and a 200-day simple moving average of $114.26. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The stock has a market capitalization of $3.48 trillion, a PE ratio of 82.77, a price-to-earnings-growth ratio of 1.52 and a beta of 1.67. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $144.42.

NVIDIA (NASDAQ:NVDA) last issued its quarterly 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 firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’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 business earned $0.25 earnings per share. As a group, equities research analysts expect that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

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.