Castle Hook Partners LP Makes New Investment in NVIDIA Co. (NASDAQ:NVDA)

Castle Hook Partners LP acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 404,825 shares of the computer hardware maker’s stock, valued at approximately $49,162,000. NVIDIA comprises about 0.9% of Castle Hook Partners LP’s holdings, making the stock its 23rd biggest holding.

Several other institutional investors have also modified their holdings of the stock. Noesis Capital Mangement Corp lifted its position in shares of NVIDIA by 9.7% during the 3rd quarter. Noesis Capital Mangement Corp now owns 11,708 shares of the computer hardware maker’s stock worth $1,422,000 after buying an additional 1,038 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of NVIDIA by 3.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock worth $21,908,236,000 after buying an additional 6,526,200 shares during the last quarter. Public Sector Pension Investment Board lifted its position in shares of NVIDIA by 9.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 6,143,850 shares of the computer hardware maker’s stock worth $746,109,000 after buying an additional 517,760 shares during the last quarter. Tybourne Capital Management HK Ltd. lifted its position in shares of NVIDIA by 46.7% during the 3rd quarter. Tybourne Capital Management HK Ltd. now owns 16,826 shares of the computer hardware maker’s stock worth $2,043,000 after buying an additional 5,360 shares during the last quarter. Finally, Fiduciary Trust Co lifted its position in shares of NVIDIA by 3.4% during the 3rd quarter. Fiduciary Trust Co now owns 618,581 shares of the computer hardware maker’s stock worth $75,120,000 after buying an additional 20,244 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NASDAQ:NVDA opened at $133.23 on Tuesday. The firm has a market cap of $3.26 trillion, a price-to-earnings ratio of 52.43, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. 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’s 50-day moving average is $139.84 and its two-hundred day moving average is $128.76. NVIDIA Co. has a 12-month low of $54.74 and a 12-month high of $153.13.

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

NVIDIA Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is currently 1.57%.

Insider Buying and Selling

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Dabiri sold 716 shares of the 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 completion of the transaction, 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NVDA. Bank of America restated a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Stifel Nicolaus upped their price target on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Phillip Securities reiterated an “accumulate” rating and issued a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Morgan Stanley upped their price target on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Finally, Wedbush upped their price target on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $164.27.

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.