Clearline Capital LP Invests $32.92 Million in NVIDIA Co. (NASDAQ:NVDA)

Clearline Capital LP acquired a new stake in NVIDIA Co. (NASDAQ:NVDA) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 271,104 shares of the computer hardware maker’s stock, valued at approximately $32,923,000. NVIDIA accounts for 1.4% of Clearline Capital LP’s investment portfolio, making the stock its 5th largest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Ironwood Wealth Management LLC. boosted its position in NVIDIA by 896.9% during the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock worth $782,000 after purchasing an additional 5,695 shares in the last quarter. Financial Guidance Group Inc. raised its stake in shares of NVIDIA by 900.0% during the 2nd quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock worth $445,000 after buying an additional 3,240 shares during the last quarter. Rooted Wealth Advisors Inc. raised its stake in shares of NVIDIA by 907.3% during the 2nd quarter. Rooted Wealth Advisors Inc. now owns 14,576 shares of the computer hardware maker’s stock worth $1,765,000 after buying an additional 13,129 shares during the last quarter. New Millennium Group LLC boosted its position in shares of NVIDIA by 975.1% in the 2nd quarter. New Millennium Group LLC now owns 147,763 shares of the computer hardware maker’s stock worth $18,255,000 after buying an additional 134,019 shares in the last quarter. Finally, Roger Wittlin Investment Advisory LLC increased its holdings in NVIDIA by 900.0% during the 2nd quarter. Roger Wittlin Investment Advisory LLC now owns 2,470 shares of the computer hardware maker’s stock valued at $305,000 after acquiring an additional 2,223 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Up 3.5 %

NASDAQ NVDA opened at $136.32 on Thursday. The stock has a market cap of $3.34 trillion, a PE ratio of 53.65, a P/E/G ratio of 2.43 and a beta of 1.64. The business has a 50 day moving average price of $139.68 and a two-hundred day moving average price of $128.82. NVIDIA Co. has a fifty-two week low of $54.74 and a fifty-two week high of $153.13. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last released 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 business had revenue of $35.08 billion during 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 business’s revenue was up 93.6% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. As a group, sell-side analysts predict that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $220.00 price target on shares of NVIDIA in a report on Wednesday, January 8th. Barclays upped their target price on NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. The Goldman Sachs Group raised their price target on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. TD Cowen upped their price objective on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Melius Research lifted their price objective on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $164.27.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the transaction, the insider now directly owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Dabiri sold 716 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was 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 of the company’s stock, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock worth $146,506,958 in the last 90 days. 4.23% of the stock is owned by corporate insiders.

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.