NVIDIA Co. (NASDAQ:NVDA) is Point72 Asia Singapore Pte. Ltd.’s Largest Position

Point72 Asia Singapore Pte. Ltd. raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 33,523.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 280,752 shares of the computer hardware maker’s stock after purchasing an additional 279,917 shares during the quarter. NVIDIA accounts for 6.4% of Point72 Asia Singapore Pte. Ltd.’s portfolio, making the stock its largest position. Point72 Asia Singapore Pte. Ltd.’s holdings in NVIDIA were worth $34,095,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NVDA. Christopher J. Hasenberg Inc acquired a new position in NVIDIA in the 3rd quarter worth approximately $27,000. Quest Partners LLC acquired a new stake in NVIDIA during the 2nd quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of NVIDIA in the 2nd quarter valued at $31,000. West Financial Advisors LLC acquired a new stake in shares of NVIDIA in the third quarter worth $36,000. Finally, DHJJ Financial Advisors Ltd. raised its holdings in shares of NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after purchasing an additional 140 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 transaction, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock worth $146,506,958 over the last 90 days. 4.23% of the stock is owned by insiders.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $136.32 on Thursday. NVIDIA Co. has a fifty-two week low of $54.74 and a fifty-two week high of $153.13. 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 50 day moving average price of $139.68 and a 200 day moving average price of $128.82. The stock has a market capitalization of $3.34 trillion, a P/E ratio of 53.65, a PEG ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last released its quarterly 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. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period last year, the business posted $0.38 earnings per share. The company’s quarterly revenue was up 93.6% on a year-over-year basis. Equities research analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

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

Wall Street Analysts Forecast Growth

NVDA has been the topic of several recent research reports. DA Davidson upped their price target on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Piper Sandler upped their target price on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Needham & Company LLC lifted their price target on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Rosenblatt Securities restated a “buy” rating and issued a $220.00 price objective on shares of NVIDIA in a research report on Wednesday, January 8th. Finally, Mizuho lifted their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a 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. Based on data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $164.27.

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.