Boussard & Gavaudan Investment Management LLP Boosts Stake in NVIDIA Co. (NASDAQ:NVDA)

Boussard & Gavaudan Investment Management LLP lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 469,435.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 145,556 shares of the computer hardware maker’s stock after acquiring an additional 145,525 shares during the period. NVIDIA accounts for approximately 1.6% of Boussard & Gavaudan Investment Management LLP’s investment portfolio, making the stock its 22nd biggest holding. Boussard & Gavaudan Investment Management LLP’s holdings in NVIDIA were worth $17,587,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVDA. Legal & General Group Plc lifted its stake in NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after acquiring an additional 191,469,114 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after purchasing an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. lifted its position in NVIDIA by 870.3% during the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after purchasing an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP boosted its holdings in NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after purchasing an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after purchasing an additional 73,589,208 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NVIDIA stock opened at $135.91 on Monday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $139.90 and a 200 day moving average price of $128.70. NVIDIA Co. has a 12-month low of $53.56 and a 12-month high of $153.13. The stock has a market cap of $3.33 trillion, a P/E ratio of 53.49, a PEG ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last announced its quarterly 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 business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter last year, the firm earned $0.38 EPS. The business’s revenue was up 93.6% compared to the same quarter last year. Sell-side analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued 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%.

Analysts Set New Price Targets

A number of brokerages have recently commented on NVDA. DA Davidson upped their target price on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Piper Sandler raised their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Bank of America restated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Finally, TD Cowen upped their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating 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 stock. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $164.63.

Insider Buying and Selling

In other NVIDIA news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is currently owned by insiders.

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.