Adage Capital Partners GP L.L.C. Has $3.56 Billion Holdings in NVIDIA Corporation $NVDA

Adage Capital Partners GP L.L.C. increased its stake in NVIDIA Corporation (NASDAQ:NVDA) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,538,210 shares of the computer hardware maker’s stock after purchasing an additional 50,100 shares during the quarter. NVIDIA makes up approximately 6.0% of Adage Capital Partners GP L.L.C.’s portfolio, making the stock its biggest holding. Adage Capital Partners GP L.L.C. owned 0.09% of NVIDIA worth $3,560,812,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp lifted its holdings in NVIDIA by 1.0% during the second quarter. State Street Corp now owns 978,208,862 shares of the computer hardware maker’s stock valued at $154,556,803,000 after purchasing an additional 9,554,857 shares during the last quarter. Geode Capital Management LLC raised its position in shares of NVIDIA by 1.5% in the second quarter. Geode Capital Management LLC now owns 579,213,497 shares of the computer hardware maker’s stock valued at $91,150,170,000 after purchasing an additional 8,521,936 shares during the period. Kingstone Capital Partners Texas LLC lifted its stake in shares of NVIDIA by 267,959.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 382,373,765 shares of the computer hardware maker’s stock valued at $64,976,521,000 after buying an additional 382,231,120 shares in the last quarter. Norges Bank bought a new position in NVIDIA in the 2nd quarter worth approximately $51,386,863,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in NVIDIA by 2.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 206,794,926 shares of the computer hardware maker’s stock valued at $22,412,434,000 after buying an additional 5,896,735 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Performance

NVIDIA stock opened at $175.02 on Friday. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $212.19. The stock’s 50 day simple moving average is $186.69 and its two-hundred day simple moving average is $173.54. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.71 and a current ratio of 4.47. The stock has a market cap of $4.25 trillion, a price-to-earnings ratio of 43.43, a PEG ratio of 0.89 and a beta of 2.29.

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

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Stockholders 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 Buying and Selling at NVIDIA

In other NVIDIA news, Director Harvey C. Jones sold 250,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $176.21, for a total transaction of $44,052,500.00. Following the completion of the transaction, the director owned 7,183,280 shares of the company’s stock, valued at approximately $1,265,765,768.80. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $176.96, for a total value of $13,272,000.00. Following the completion of the sale, the chief executive officer directly owned 71,308,203 shares in the company, valued at approximately $12,618,699,602.88. This represents a 0.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 2,829,474 shares of company stock valued at $512,805,367 in the last quarter. 4.17% of the stock is owned by insiders.

Analyst Ratings Changes

NVDA has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on NVIDIA from $180.00 to $215.00 and gave the stock a “hold” rating in a report on Thursday, November 20th. Argus restated a “buy” rating and issued a $220.00 target price on shares of NVIDIA in a research note on Thursday, November 20th. Daiwa Capital Markets upped their price target on NVIDIA from $165.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Raymond James Financial set a $272.00 price objective on shares of NVIDIA and gave the company a “strong-buy” rating in a research report on Thursday, November 20th. Finally, Susquehanna upped their target price on shares of NVIDIA from $230.00 to $250.00 and gave the stock a “positive” rating in a report on Thursday, November 20th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $258.65.

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.