AQR Capital Management LLC Grows Position in NVIDIA Corporation $NVDA

AQR Capital Management LLC raised its stake in NVIDIA Corporation (NASDAQ:NVDA) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,624,757 shares of the computer hardware maker’s stock after acquiring an additional 419,994 shares during the period. NVIDIA makes up 2.5% of AQR Capital Management LLC’s portfolio, making the stock its biggest position. AQR Capital Management LLC owned approximately 0.08% of NVIDIA worth $3,073,433,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of NVDA. Alden Global Capital LLC bought a new position in NVIDIA in the 2nd quarter worth about $24,364,000. Aberdeen Wealth Management LLC lifted its stake in shares of NVIDIA by 1.1% in the second quarter. Aberdeen Wealth Management LLC now owns 17,910 shares of the computer hardware maker’s stock worth $2,830,000 after buying an additional 200 shares in the last quarter. Absoluto Partners Gestao de Recursos Ltda grew its holdings in shares of NVIDIA by 30.6% during the second quarter. Absoluto Partners Gestao de Recursos Ltda now owns 18,107 shares of the computer hardware maker’s stock valued at $2,861,000 after buying an additional 4,238 shares during the last quarter. Strategic Wealth Investment Group LLC grew its holdings in shares of NVIDIA by 2.6% during the second quarter. Strategic Wealth Investment Group LLC now owns 14,385 shares of the computer hardware maker’s stock valued at $2,273,000 after buying an additional 364 shares during the last quarter. Finally, CLG LLC increased its position in shares of NVIDIA by 0.9% during the second quarter. CLG LLC now owns 18,762 shares of the computer hardware maker’s stock valued at $2,964,000 after acquiring an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other news, Director A Brooke Seawell sold 12,728 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $183.93, for a total transaction of $2,341,061.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Debora Shoquist sold 69,840 shares of NVIDIA stock in a transaction on Friday, December 12th. The shares were sold at an average price of $177.85, for a total transaction of $12,421,044.00. Following the transaction, the executive vice president owned 1,424,603 shares in the company, valued at approximately $253,365,643.55. This trade represents a 4.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 2,829,474 shares of company stock worth $512,805,367 in the last 90 days. Insiders own 4.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NVDA. KeyCorp upped their price objective on NVIDIA from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. Mizuho boosted their price target on NVIDIA from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Arete Research upped their price target on NVIDIA from $244.00 to $261.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Oppenheimer reiterated an “outperform” rating and issued a $265.00 price objective on shares of NVIDIA in a report on Thursday, November 20th. Finally, S&P Equity Research reissued a “positive” rating on shares of NVIDIA in a research report on Wednesday, October 22nd. Four research analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $258.65.

NVIDIA Trading Down 3.3%

NASDAQ:NVDA opened at $175.02 on Friday. NVIDIA Corporation has a one year low of $86.62 and a one year high of $212.19. The business has a fifty day moving average price of $186.69 and a 200-day moving average price of $173.54. The firm has a market capitalization of $4.25 trillion, a price-to-earnings ratio of 43.43, a price-to-earnings-growth ratio of 0.89 and a beta of 2.29. 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 (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.07. The business had revenue of $57.01 billion during the quarter, compared to analyst estimates of $54.66 billion. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.NVIDIA’s revenue for the quarter was up 62.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.81 earnings per share. Sell-side analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

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.