Polar Asset Management Partners Inc. Buys 42,800 Shares of NVIDIA Co. (NASDAQ:NVDA)

Polar Asset Management Partners Inc. raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 107.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,800 shares of the computer hardware maker’s stock after buying an additional 42,800 shares during the period. Polar Asset Management Partners Inc.’s holdings in NVIDIA were worth $10,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Legal & General Group Plc grew its stake in NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in 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 valued at $21,908,236,000 after purchasing an additional 6,526,200 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of NVIDIA by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock worth $17,738,630,000 after buying an additional 2,042,348 shares during the period. Ameriprise Financial Inc. grew its position in shares of NVIDIA by 870.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after buying an additional 91,867,031 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of NVIDIA by 3.5% during the third quarter. Fisher Asset Management LLC now owns 96,720,707 shares of the computer hardware maker’s stock valued at $11,745,763,000 after buying an additional 3,283,380 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on NVDA shares. Wells Fargo & Company increased their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Needham & Company LLC increased their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Melius Research boosted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Wedbush upped their target price on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Phillip Securities reiterated an “accumulate” rating and issued a $160.00 price target (up from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $164.27.

NVIDIA Stock Performance

NASDAQ NVDA opened at $133.57 on Friday. The firm has a market capitalization of $3.27 trillion, a P/E ratio of 52.57, a PEG ratio of 2.45 and a beta of 1.64. The stock has a 50-day simple moving average of $139.49 and a two-hundred day simple moving average of $128.87. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a fifty-two week low of $54.74 and a fifty-two week high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating 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 company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period last year, the business earned $0.38 earnings per share. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. On average, equities analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors 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 yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,108,348 shares of company stock valued at $146,506,958. Corporate insiders own 4.23% of the company’s stock.

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.