Hourglass Capital LLC Acquires Shares of 35,415 NVIDIA Co. (NASDAQ:NVDA)

Hourglass Capital LLC bought a new position in NVIDIA Co. (NASDAQ:NVDA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 35,415 shares of the computer hardware maker’s stock, valued at approximately $4,301,000.

A number of other institutional investors have also recently modified their holdings of the stock. Lantz Financial LLC lifted its holdings in shares of NVIDIA by 833.1% during the 2nd quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock valued at $5,088,000 after buying an additional 36,774 shares during the period. ERn Financial LLC increased its position in NVIDIA by 917.2% during the second quarter. ERn Financial LLC now owns 45,589 shares of the computer hardware maker’s stock valued at $5,632,000 after acquiring an additional 41,107 shares during the last quarter. Silver Lake Advisory LLC lifted its holdings in NVIDIA by 2,765.4% in the second quarter. Silver Lake Advisory LLC now owns 39,801 shares of the computer hardware maker’s stock valued at $4,917,000 after acquiring an additional 38,412 shares during the period. Valley National Advisers Inc. boosted its position in NVIDIA by 952.0% in the second quarter. Valley National Advisers Inc. now owns 49,171 shares of the computer hardware maker’s stock worth $6,074,000 after purchasing an additional 44,497 shares during the last quarter. Finally, O ROURKE & COMPANY Inc grew its stake in shares of NVIDIA by 953.8% during the 2nd quarter. O ROURKE & COMPANY Inc now owns 6,439 shares of the computer hardware maker’s stock valued at $795,000 after purchasing an additional 5,828 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 125,000 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the completion of the sale, the director now directly owns 8,255,117 shares of the company’s stock, valued at approximately $1,012,159,895.37. This represents a 1.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the transaction, the chief financial officer now owns 3,351,572 shares in the company, valued at $453,802,848.80. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,351,886 shares of company stock valued at $176,825,650 in the last three months. Insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NVDA shares. Susquehanna upped their price objective on NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Melius Research upped their price target on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Robert W. Baird lifted their price objective on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Loop Capital reissued a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a 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 stock. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Stock Up 0.4 %

NASDAQ NVDA opened at $137.49 on Tuesday. NVIDIA Co. has a 12 month low of $47.32 and a 12 month high of $152.89. The company has a market capitalization of $3.37 trillion, a P/E ratio of 54.11, a PEG ratio of 2.43 and a beta of 1.63. The company’s 50 day simple moving average is $139.84 and its 200 day simple moving average is $128.03. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last announced its 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 net margin of 55.69% and a return on equity of 114.83%. 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 company posted $0.38 earnings per share. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. Equities research analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

NVIDIA 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.