GAMMA Investing LLC Purchases 48,439,859 Shares of NVIDIA Co. (NASDAQ:NVDA)

GAMMA Investing LLC grew its position in NVIDIA Co. (NASDAQ:NVDA) by 12,173.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,837,781 shares of the computer hardware maker’s stock after acquiring an additional 48,439,859 shares during the quarter. NVIDIA accounts for about 1.0% of GAMMA Investing LLC’s holdings, making the stock its 17th largest position. GAMMA Investing LLC owned 0.20% of NVIDIA worth $5,293,039,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Regent Peak Wealth Advisors LLC raised its holdings in shares of NVIDIA by 0.4% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 81,833 shares of the computer hardware maker’s stock worth $10,989,000 after buying an additional 322 shares in the last quarter. Wealth Group Ltd. raised its holdings in shares of NVIDIA by 1.8% in the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker’s stock worth $766,000 after buying an additional 100 shares in the last quarter. Tallon Kerry Patrick acquired a new position in shares of NVIDIA in the 4th quarter worth approximately $972,000. Capital & Planning LLC raised its holdings in shares of NVIDIA by 16.9% in the 4th quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker’s stock worth $1,021,000 after buying an additional 1,099 shares in the last quarter. Finally, Mechanics Bank Trust Department raised its holdings in shares of NVIDIA by 1.2% in the 4th quarter. Mechanics Bank Trust Department now owns 90,610 shares of the computer hardware maker’s stock worth $12,168,000 after buying an additional 1,103 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NVDA. Truist Financial increased their target price on NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Piper Sandler reissued an “overweight” rating and issued a $180.00 target price (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Needham & Company LLC reissued a “buy” rating and issued a $160.00 target price on shares of NVIDIA in a report on Thursday, May 29th. Rosenblatt Securities increased their target price on NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Finally, Summit Insights raised NVIDIA from a “hold” rating to a “buy” rating in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $171.66.

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 935,000 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the sale, the director now owns 9,214,697 shares of the company’s stock, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Aarti S. Shah sold 20,000 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the sale, the director now directly owns 53,208 shares in the company, valued at $6,300,891.36. The trade was a 27.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,255,320 shares of company stock worth $172,680,419 in the last three months. Insiders own 4.17% of the company’s stock.

NVIDIA Stock Up 0.6%

NASDAQ:NVDA opened at $142.63 on Tuesday. NVIDIA Co. has a 12-month low of $86.62 and a 12-month high of $195.95. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.48 trillion, a P/E ratio of 56.13, a P/E/G ratio of 1.76 and a beta of 2.12. The stock’s fifty day simple moving average is $119.10 and its 200-day simple moving average is $126.11.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the prior year, the business earned $0.61 earnings per share. The firm’s revenue for the quarter was up 69.2% on a year-over-year basis. Equities research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be given a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.29%.

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.