NVIDIA Co. (NASDAQ:NVDA) is Telemark Asset Management LLC’s Largest Position

Telemark Asset Management LLC reduced its position in NVIDIA Co. (NASDAQ:NVDA) by 17.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,150,000 shares of the computer hardware maker’s stock after selling 250,000 shares during the period. NVIDIA accounts for about 14.1% of Telemark Asset Management LLC’s holdings, making the stock its biggest holding. Telemark Asset Management LLC’s holdings in NVIDIA were worth $139,656,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Asset Management Group Inc. lifted its holdings in shares of NVIDIA by 3.8% in the 3rd quarter. Asset Management Group Inc. now owns 7,070 shares of the computer hardware maker’s stock valued at $859,000 after purchasing an additional 260 shares during the last quarter. Biltmore Family Office LLC lifted its holdings in shares of NVIDIA by 11.4% in the 3rd quarter. Biltmore Family Office LLC now owns 32,492 shares of the computer hardware maker’s stock valued at $3,946,000 after purchasing an additional 3,321 shares during the last quarter. Planning Alternatives Ltd. ADV lifted its holdings in shares of NVIDIA by 40.5% in the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,444 shares of the computer hardware maker’s stock valued at $297,000 after purchasing an additional 704 shares during the last quarter. CFS Investment Advisory Services LLC lifted its holdings in shares of NVIDIA by 54.0% in the 3rd quarter. CFS Investment Advisory Services LLC now owns 43,335 shares of the computer hardware maker’s stock valued at $5,263,000 after purchasing an additional 15,188 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its holdings in shares of NVIDIA by 4.2% in the 3rd quarter. Raymond James Trust N.A. now owns 730,995 shares of the computer hardware maker’s stock valued at $88,772,000 after purchasing an additional 29,174 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock valued at $146,506,958 in the last quarter. 4.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Piper Sandler boosted their target price on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Benchmark restated a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a research report on Tuesday. Needham & Company LLC boosted their price target on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Citigroup boosted their price target on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Raymond James boosted their price target on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.63.

NVIDIA Price Performance

NVDA stock opened at $140.11 on Thursday. NVIDIA Co. has a 1 year low of $51.69 and a 1 year high of $153.13. 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 stock’s 50 day moving average price is $139.74 and its 200 day moving average price is $128.46. The firm has a market cap of $3.43 trillion, a P/E ratio of 55.14, a PEG ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the prior year, the company posted $0.38 EPS. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. On average, sell-side analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio is presently 1.57%.

About NVIDIA

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.