Blue Grotto Capital LLC Takes $25.10 Million Position in NVIDIA Corporation $NVDA

Blue Grotto Capital LLC purchased a new position in NVIDIA Corporation (NASDAQ:NVDA) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 158,842 shares of the computer hardware maker’s stock, valued at approximately $25,095,000. NVIDIA makes up 3.0% of Blue Grotto Capital LLC’s investment portfolio, making the stock its 15th largest holding.

A number of other hedge funds also recently added to or reduced their stakes in NVDA. State Street Corp raised its holdings in NVIDIA by 1.0% in the 2nd quarter. State Street Corp now owns 978,208,862 shares of the computer hardware maker’s stock worth $154,556,803,000 after purchasing an additional 9,554,857 shares during the period. Geode Capital Management LLC lifted its holdings 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 worth $91,150,170,000 after buying an additional 8,521,936 shares in the last quarter. Kingstone Capital Partners Texas LLC grew its position in shares of NVIDIA by 267,959.7% during the second 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 purchasing an additional 382,231,120 shares in the last quarter. Norges Bank bought a new stake 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 lifted its position in NVIDIA by 2.9% during the first 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 purchasing an additional 5,896,735 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 350,000 shares of the stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $176.39, for a total value of $61,736,500.00. Following the completion of the sale, the director owned 7,399,803 shares in the company, valued at approximately $1,305,251,251.17. This represents a 4.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Debora Shoquist sold 80,000 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $184.65, for a total value of $14,772,000.00. Following the completion of the sale, the executive vice president directly owned 1,574,443 shares of the company’s stock, valued at approximately $290,720,899.95. This represents a 4.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 2,829,474 shares of company stock worth $512,805,367 over the last three months. 4.17% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays boosted their price objective on shares of NVIDIA from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. Argus reissued a “buy” rating and set a $220.00 target price on shares of NVIDIA in a research report on Thursday, November 20th. Needham & Company LLC reiterated a “buy” rating and set a $240.00 price objective on shares of NVIDIA in a research note on Thursday, November 20th. Hsbc Global Res raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $300.00 price target on shares of NVIDIA in a research note on Thursday, November 20th. Four investment analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $258.65.

NVIDIA Price Performance

NASDAQ:NVDA opened at $175.02 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.47 and a quick ratio of 3.71. The company has a 50 day moving average price of $186.69 and a 200-day moving average price of $173.54. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $212.19. The firm has a market cap 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.

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

NVIDIA Dividend Announcement

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 paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date is Thursday, December 4th. NVIDIA’s payout ratio is 0.99%.

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.