Freemont Management S.A. Purchases 245,800 Shares of NVIDIA Corporation $NVDA

Freemont Management S.A. lifted its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 164.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 395,400 shares of the computer hardware maker’s stock after purchasing an additional 245,800 shares during the period. NVIDIA comprises approximately 9.4% of Freemont Management S.A.’s portfolio, making the stock its largest position. Freemont Management S.A.’s holdings in NVIDIA were worth $62,469,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NVDA. Brighton Jones LLC lifted its stake in NVIDIA by 12.4% in the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock valued at $43,631,000 after buying an additional 35,815 shares during the last quarter. Bank Pictet & Cie Europe AG raised its position in NVIDIA by 1.0% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker’s stock worth $315,100,000 after buying an additional 22,929 shares during the last quarter. Highview Capital Management LLC DE lifted its position in NVIDIA by 6.7% in the fourth quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker’s stock valued at $7,842,000 after purchasing an additional 3,653 shares during the period. Hudson Value Partners LLC lifted its holdings in shares of NVIDIA by 30.7% in the 4th quarter. Hudson Value Partners LLC now owns 50,658 shares of the computer hardware maker’s stock valued at $6,805,000 after buying an additional 11,900 shares during the period. Finally, Wealth Group Ltd. boosted its stake in shares of NVIDIA by 15.7% in the first quarter. Wealth Group Ltd. now owns 6,598 shares of the computer hardware maker’s stock valued at $715,000 after buying an additional 896 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. S&P Equity Research reissued a “positive” rating on shares of NVIDIA in a research note on Wednesday, October 22nd. Robert W. Baird set a $275.00 target price on shares of NVIDIA and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Bank of America raised their price objective on NVIDIA from $235.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Wedbush boosted their target price on shares of NVIDIA from $210.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, November 20th. Finally, Rosenblatt Securities increased their target price on NVIDIA from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $258.65.

NVIDIA Stock Performance

Shares of NVDA opened at $183.38 on Friday. The firm has a fifty day moving average of $187.05 and a 200-day moving average of $171.50. The company has a market cap of $4.46 trillion, a price-to-earnings ratio of 45.50, a price-to-earnings-growth ratio of 0.88 and a beta of 2.29. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.71 and a current ratio of 4.47. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $212.19.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.07. The business had revenue of $57.01 billion for the quarter, compared to analysts’ expectations of $54.66 billion. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. The company’s revenue for the quarter was up 62.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 EPS. As a group, equities analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 350,000 shares of the firm’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $176.39, for a total value of $61,736,500.00. Following the sale, the director directly owned 7,399,803 shares in the company, valued at $1,305,251,251.17. This trade represents a 4.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $177.57, for a total value of $13,317,750.00. Following the sale, the chief executive officer directly owned 72,248,366 shares in the company, valued at $12,829,142,350.62. The trade was a 0.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 2,949,931 shares of company stock valued at $531,605,955 in the last three months. 4.17% of the stock is currently owned by corporate insiders.

About NVIDIA

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.