NVIDIA Co. (NASDAQ:NVDA) is Altimeter Capital Management LP’s 2nd Largest Position

Altimeter Capital Management LP increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 7,845,769 shares of the computer hardware maker’s stock after purchasing an additional 49,180 shares during the period. NVIDIA makes up approximately 19.0% of Altimeter Capital Management LP’s investment portfolio, making the stock its 2nd largest position. Altimeter Capital Management LP’s holdings in NVIDIA were worth $1,053,608,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. AmeriServ Wealth Advisors acquired a new position in NVIDIA in the 4th quarter valued at about $6,013,000. Apex Wealth Management LLC acquired a new position in NVIDIA in the 4th quarter valued at about $272,000. Arrowroot Family Office LLC grew its position in NVIDIA by 8.6% in the 4th quarter. Arrowroot Family Office LLC now owns 4,988 shares of the computer hardware maker’s stock valued at $670,000 after acquiring an additional 394 shares in the last quarter. Accredited Wealth Management LLC acquired a new position in NVIDIA in the 4th quarter valued at about $263,000. Finally, AlTi Global Inc. grew its position in NVIDIA by 8.3% in the 4th quarter. AlTi Global Inc. now owns 117,414 shares of the computer hardware maker’s stock valued at $15,917,000 after acquiring an additional 8,969 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the sale, the insider now owns 479,428 shares in the company, valued at $55,997,190.40. This represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now owns 17,279 shares of the company’s stock, valued at $1,900,690. This trade represents a 13.35% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is owned by insiders.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $131.29 on Friday. 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 Co. has a twelve month low of $86.62 and a twelve month high of $195.95. The stock has a 50 day moving average of $113.89 and a two-hundred day moving average of $126.94. The stock has a market cap of $3.21 trillion, a P/E ratio of 51.67, a P/E/G ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. On average, research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 1.36%.

Analyst Ratings Changes

Several equities analysts have weighed in on NVDA shares. Barclays dropped their target price on NVIDIA from $175.00 to $155.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of NVIDIA in a research report on Wednesday, April 16th. DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Raymond James reissued a “strong-buy” rating on shares of NVIDIA in a research report on Wednesday, April 16th. Finally, Morgan Stanley reissued a “hold” rating on shares of NVIDIA in a research report on Friday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $165.86.

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.