Acadian Asset Management LLC Buys 4,121,559 Shares of NVIDIA Corporation $NVDA

Acadian Asset Management LLC grew its stake in NVIDIA Corporation (NASDAQ:NVDA) by 44.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,471,111 shares of the computer hardware maker’s stock after acquiring an additional 4,121,559 shares during the quarter. NVIDIA comprises approximately 4.4% of Acadian Asset Management LLC’s investment portfolio, making the stock its biggest position. Acadian Asset Management LLC owned about 0.06% of NVIDIA worth $2,128,257,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harbor Asset Planning Inc. purchased a new stake in shares of NVIDIA in the 2nd quarter valued at approximately $28,000. Spurstone Advisory Services LLC acquired a new position in NVIDIA in the second quarter valued at approximately $40,000. Kathleen S. Wright Associates Inc. grew its position in NVIDIA by 169.3% in the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock worth $44,000 after acquiring an additional 254 shares during the period. Legend Financial Advisors Inc. purchased a new position in NVIDIA in the second quarter worth approximately $55,000. Finally, Campbell Capital Management Inc. increased its stake in NVIDIA by 5,900.0% during the first quarter. Campbell Capital Management Inc. now owns 600 shares of the computer hardware maker’s stock worth $65,000 after acquiring an additional 590 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Up 2.1%

NVDA opened at $183.38 on Friday. The business has a fifty day moving average price of $187.05 and a 200 day moving average price of $171.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.47 and a quick ratio of 3.71. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $212.19. The stock has a market capitalization of $4.46 trillion, a price-to-earnings ratio of 45.50, a PEG ratio of 0.88 and a beta of 2.29.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.07. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.The company had revenue of $57.01 billion for the quarter, compared to analyst estimates of $54.66 billion. During the same quarter last year, the company earned $0.81 EPS. NVIDIA’s revenue for the quarter was up 62.5% compared to the same quarter last year. Sell-side analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Thursday, December 4th will be given a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA’s dividend payout ratio is currently 0.99%.

Insider Activity

In related news, Director A Brooke Seawell sold 12,728 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $183.93, for a total value of $2,341,061.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 20,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $208.33, for a total transaction of $4,166,600.00. Following the completion of the transaction, the chief financial officer owned 123,060 shares in the company, valued at $25,637,089.80. This represents a 13.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,949,931 shares of company stock valued at $531,605,955 over the last quarter. Company insiders own 4.17% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of research analyst reports. KeyCorp increased their price target on NVIDIA from $250.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. Rothschild & Co Redburn increased their target price on shares of NVIDIA from $211.00 to $245.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Argus reiterated a “buy” rating and set a $220.00 price target on shares of NVIDIA in a research report on Thursday, November 20th. Mizuho upped their price objective on shares of NVIDIA from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Finally, Bank of America lifted their target price on shares of NVIDIA from $235.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Five equities research analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $258.65.

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.