Horizon Kinetics Asset Management LLC Has $3.17 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Horizon Kinetics Asset Management LLC boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 101.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,060 shares of the computer hardware maker’s stock after buying an additional 13,100 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in NVIDIA were worth $3,165,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Lantz Financial LLC lifted its stake in shares of NVIDIA by 833.1% in the 2nd quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock valued at $5,088,000 after purchasing an additional 36,774 shares during the period. Ironwood Wealth Management LLC. lifted its stake in shares of NVIDIA by 896.9% in the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after purchasing an additional 5,695 shares during the period. DT Investment Partners LLC lifted its stake in shares of NVIDIA by 981.9% in the 2nd quarter. DT Investment Partners LLC now owns 25,230 shares of the computer hardware maker’s stock valued at $3,117,000 after purchasing an additional 22,898 shares during the period. Arcus Capital Partners LLC lifted its stake in shares of NVIDIA by 764.2% in the 2nd quarter. Arcus Capital Partners LLC now owns 12,496 shares of the computer hardware maker’s stock valued at $1,544,000 after purchasing an additional 11,050 shares during the period. Finally, Louisiana State Employees Retirement System lifted its stake in shares of NVIDIA by 877.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 2,148,200 shares of the computer hardware maker’s stock valued at $265,389,000 after purchasing an additional 1,928,500 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NVDA. William Blair began coverage on NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Wells Fargo & Company boosted their target price on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Needham & Company LLC boosted their target price on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Bank of America reaffirmed a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Citigroup boosted their target price on NVIDIA from $170.00 to $175.00 and gave the company 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 assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.63.

Insiders Place Their Bets

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now directly owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock worth $146,506,958 over the last 90 days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVIDIA stock opened at $135.91 on Friday. The company has a market cap of $3.33 trillion, a price-to-earnings ratio of 53.49, a PEG ratio of 2.43 and a beta of 1.64. The business’s 50 day simple moving average is $139.90 and its 200 day simple moving average is $128.66. NVIDIA Co. has a 12 month low of $53.56 and a 12 month high of $153.13. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm 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 business’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 earnings per share. Sell-side analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. 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.