Empirical Capital Management LLC Makes New Investment in NVIDIA Co. (NASDAQ:NVDA)

Empirical Capital Management LLC purchased a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,000 shares of the computer hardware maker’s stock, valued at approximately $364,000. NVIDIA comprises approximately 0.3% of Empirical Capital Management LLC’s holdings, making the stock its 19th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in NVDA. Christopher J. Hasenberg Inc acquired a new position in NVIDIA during the 3rd quarter worth $27,000. Quest Partners LLC bought a new stake in shares of NVIDIA during the second quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in NVIDIA in the second quarter worth about $31,000. West Financial Advisors LLC bought a new position in NVIDIA in the 3rd quarter valued at about $36,000. Finally, DHJJ Financial Advisors Ltd. increased its stake in NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after buying an additional 140 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Up 3.1 %

Shares of NASDAQ NVDA opened at $137.71 on Friday. The business has a 50 day simple moving average of $138.99 and a 200 day simple moving average of $129.00. NVIDIA Co. has a 52 week low of $56.11 and a 52 week high of $153.13. The stock has a market cap of $3.37 trillion, a price-to-earnings ratio of 54.20, a PEG ratio of 2.45 and a beta of 1.64. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 earnings per share. On average, research analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.01 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 1.57%.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock valued at $146,506,958 over the last quarter. Insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Robert W. Baird upped their price target on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Needham & Company LLC upped their target price on NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Evercore ISI lifted their price target on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft upped their price objective on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Finally, UBS Group lifted their target price on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.63.

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.