Hourglass Capital LLC Purchases New Shares in NVIDIA Co. (NASDAQ:NVDA)

Hourglass Capital LLC acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 35,415 shares of the computer hardware maker’s stock, valued at approximately $4,301,000.

Other hedge funds have also added to or reduced their stakes in the company. Summit Asset Management LLC increased its stake in NVIDIA by 3.4% in the third quarter. Summit Asset Management LLC now owns 59,251 shares of the computer hardware maker’s stock valued at $7,195,000 after purchasing an additional 1,945 shares in the last quarter. BCM Advisors LLC boosted its position in NVIDIA by 0.7% during the 3rd quarter. BCM Advisors LLC now owns 34,157 shares of the computer hardware maker’s stock worth $4,148,000 after acquiring an additional 236 shares during the last quarter. Regal Partners Ltd bought a new position in shares of NVIDIA in the 3rd quarter valued at about $2,158,000. Fortis Capital Management LLC grew its stake in shares of NVIDIA by 8.5% in the third quarter. Fortis Capital Management LLC now owns 112,652 shares of the computer hardware maker’s stock valued at $13,680,000 after buying an additional 8,846 shares in the last quarter. Finally, Freemont Management S.A. raised its holdings in shares of NVIDIA by 4.2% in the 3rd quarter. Freemont Management S.A. now owns 111,500 shares of the computer hardware maker’s stock valued at $13,541,000 after purchasing an additional 4,500 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 0.4 %

NASDAQ NVDA opened at $137.49 on Tuesday. The firm has a market cap of $3.37 trillion, a price-to-earnings ratio of 54.11, a PEG ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a one year low of $47.32 and a one year high of $152.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm has a 50 day simple moving average of $139.84 and a 200-day simple moving average of $128.03.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS. Equities research analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

Insider Activity

In other news, Director John Dabiri sold 716 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now directly owns 19,942 shares in the company, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 125,000 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the sale, the director now owns 8,255,117 shares of the company’s stock, valued at approximately $1,012,159,895.37. This represents a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,351,886 shares of company stock valued at $176,825,650 over the last quarter. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Bank of America reissued a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a report on Thursday, November 21st. The Goldman Sachs Group raised their target price on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Stifel Nicolaus boosted their price target on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Loop Capital reissued a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Wednesday, November 20th. Finally, Susquehanna lifted their price target on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA 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.