QRG Capital Management Inc. Buys 216,696 Shares of NVIDIA Co. (NASDAQ:NVDA)

QRG Capital Management Inc. increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,039,598 shares of the computer hardware maker’s stock after purchasing an additional 216,696 shares during the period. NVIDIA makes up approximately 5.3% of QRG Capital Management Inc.’s investment portfolio, making the stock its 3rd largest holding. QRG Capital Management Inc.’s holdings in NVIDIA were worth $490,569,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. National Pension Service increased its stake in shares of NVIDIA by 14.9% in the 3rd quarter. National Pension Service now owns 47,220,708 shares of the computer hardware maker’s stock valued at $5,734,483,000 after acquiring an additional 6,118,674 shares during the last quarter. Lutz Financial Services LLC grew its holdings in NVIDIA by 12.5% during the third quarter. Lutz Financial Services LLC now owns 10,697 shares of the computer hardware maker’s stock valued at $1,299,000 after purchasing an additional 1,191 shares during the period. Silicon Valley Capital Partners increased its stake in NVIDIA by 4.7% in the third quarter. Silicon Valley Capital Partners now owns 281,898 shares of the computer hardware maker’s stock valued at $34,234,000 after purchasing an additional 12,657 shares in the last quarter. Cohen Capital Management Inc. raised its holdings in NVIDIA by 94.8% in the third quarter. Cohen Capital Management Inc. now owns 3,370 shares of the computer hardware maker’s stock worth $409,000 after purchasing an additional 1,640 shares during the period. Finally, New England Capital Financial Advisors LLC boosted its position in shares of NVIDIA by 4.5% during the third quarter. New England Capital Financial Advisors LLC now owns 3,921 shares of the computer hardware maker’s stock worth $476,000 after purchasing an additional 170 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the topic of several research analyst reports. TD Cowen raised their price objective on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Craig Hallum lifted their price objective on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Bank of America reissued a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Rosenblatt Securities restated a “buy” rating and set a $200.00 target price on shares of NVIDIA in a report on Monday, November 18th. Finally, Citigroup upped their price target on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Activity

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the transaction, the insider now directly owns 480,899 shares in the company, valued at $65,056,016.72. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,628,156 shares of company stock worth $197,995,077. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Down 1.2 %

NVDA stock opened at $130.39 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The business’s fifty day moving average price is $139.79 and its two-hundred day moving average price is $127.07. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. The stock has a market capitalization of $3.19 trillion, a price-to-earnings ratio of 51.33, a PEG ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm 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 business posted $0.38 EPS. The business’s revenue was up 93.6% compared to the same quarter last year. On average, equities analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.57%.

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

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.