New Millennium Group LLC Buys 296 Shares of NVIDIA Co. (NASDAQ:NVDA)

New Millennium Group LLC increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 0.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 148,059 shares of the computer hardware maker’s stock after acquiring an additional 296 shares during the quarter. NVIDIA makes up 11.6% of New Millennium Group LLC’s holdings, making the stock its 2nd largest holding. New Millennium Group LLC’s holdings in NVIDIA were worth $17,980,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Quest Partners LLC acquired a new position in shares of NVIDIA in the 2nd quarter worth $27,000. Christopher J. Hasenberg Inc acquired a new stake in NVIDIA during the third quarter valued at $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in NVIDIA during the second quarter valued at $31,000. West Financial Advisors LLC acquired a new stake in NVIDIA during the third quarter valued at $36,000. Finally, DHJJ Financial Advisors Ltd. boosted its position in NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 140 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on NVDA. Redburn Atlantic began coverage on NVIDIA in a research report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price target for the company. Truist Financial boosted their price target on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Susquehanna boosted their price target on NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Oppenheimer reissued an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Bank of America reissued a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now directly owns 480,899 shares in the company, valued at approximately $65,056,016.72. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,226,886 shares of company stock worth $161,499,400 in the last quarter. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 4.5 %

NASDAQ:NVDA opened at $144.47 on Monday. The stock’s fifty day moving average price is $139.57 and its two-hundred day moving average price is $128.15. NVIDIA Co. has a 52-week low of $47.51 and a 52-week 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 company has a market cap of $3.54 trillion, a price-to-earnings ratio of 56.86, a P/E/G ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 EPS. On average, analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current 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. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 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.