NVIDIA Co. (NASDAQ:NVDA) is Totem Point Management LLC’s 2nd Largest Position

Totem Point Management LLC lifted its position in NVIDIA Co. (NASDAQ:NVDAGet Rating) by 27.7% in the first quarter, HoldingsChannel.com reports. The firm owned 46,829 shares of the computer hardware maker’s stock after purchasing an additional 10,163 shares during the quarter. NVIDIA comprises about 10.0% of Totem Point Management LLC’s investment portfolio, making the stock its 2nd biggest holding. Totem Point Management LLC’s holdings in NVIDIA were worth $12,778,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVDA. Norges Bank purchased a new stake in shares of NVIDIA in the fourth quarter worth $6,279,217,000. BlackRock Inc. grew its stake in NVIDIA by 2.1% during the fourth quarter. BlackRock Inc. now owns 177,839,722 shares of the computer hardware maker’s stock valued at $52,304,441,000 after acquiring an additional 3,591,440 shares in the last quarter. Vanguard Group Inc. grew its stake in NVIDIA by 1.2% during the first quarter. Vanguard Group Inc. now owns 198,462,079 shares of the computer hardware maker’s stock valued at $54,152,363,000 after acquiring an additional 2,446,529 shares in the last quarter. Brown Advisory Inc. grew its stake in NVIDIA by 94.4% during the first quarter. Brown Advisory Inc. now owns 4,557,600 shares of the computer hardware maker’s stock valued at $1,244,858,000 after acquiring an additional 2,213,090 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in NVIDIA by 43.3% during the first quarter. Fisher Asset Management LLC now owns 7,328,372 shares of the computer hardware maker’s stock valued at $1,999,620,000 after acquiring an additional 2,212,941 shares in the last quarter. 62.58% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Up 2.8 %

Shares of NVIDIA stock opened at $143.87 on Friday. The firm’s 50 day moving average price is $166.39 and its 200-day moving average price is $192.03. The company has a quick ratio of 3.11, a current ratio of 3.62 and a debt-to-equity ratio of 0.41. NVIDIA Co. has a 52-week low of $132.70 and a 52-week high of $346.47. The company has a market cap of $358.24 billion, a P/E ratio of 47.17, a PEG ratio of 4.51 and a beta of 1.69.

NVIDIA (NASDAQ:NVDAGet Rating) last released its earnings results on Wednesday, August 24th. The computer hardware maker reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). The company had revenue of $6.70 billion during the quarter, compared to analyst estimates of $6.70 billion. NVIDIA had a return on equity of 36.83% and a net margin of 26.03%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $0.89 earnings per share. On average, sell-side analysts predict that NVIDIA Co. will post 2.48 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 8th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date is Wednesday, September 7th. NVIDIA’s dividend payout ratio (DPR) is presently 5.25%.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 113,850 shares of NVIDIA stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $158.03, for a total value of $17,991,715.50. Following the completion of the sale, the director now directly owns 2,596,493 shares in the company, valued at approximately $410,323,788.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.04% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NVDA. Raymond James cut their target price on shares of NVIDIA from $240.00 to $210.00 in a research note on Thursday, August 25th. Daiwa Capital Markets cut shares of NVIDIA from an “outperform” rating to a “neutral” rating and cut their target price for the company from $215.00 to $133.00 in a research note on Friday, September 2nd. Truist Financial lowered their price objective on shares of NVIDIA from $216.00 to $198.00 and set a “buy” rating for the company in a research report on Thursday, August 25th. Rosenblatt Securities reiterated a “buy” rating and set a $320.00 price objective on shares of NVIDIA in a research report on Thursday, August 25th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of NVIDIA from $175.00 to $165.00 and set a “hold” rating for the company in a research report on Thursday, August 25th. Eleven analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $217.26.

NVIDIA Company Profile

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NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

Further Reading

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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