Diamant Asset Management Inc. Buys New Position in NVIDIA Co. (NASDAQ:NVDA)

Diamant Asset Management Inc. bought a new stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,030 shares of the computer hardware maker's stock, valued at approximately $247,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in NVIDIA by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker's stock worth $66,101,133,000 after buying an additional 11,525,969 shares during the period. Legal & General Group Plc grew its stake in shares of NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker's stock worth $26,329,751,000 after acquiring an additional 191,469,114 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of NVIDIA by 3.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker's stock worth $21,908,236,000 after acquiring an additional 6,526,200 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of NVIDIA by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker's stock valued at $17,738,630,000 after acquiring an additional 2,042,348 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker's stock valued at $12,658,922,000 after purchasing an additional 91,867,031 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.

Wall Street Analyst Weigh In

NVDA has been the topic of several recent research reports. UBS Group upped their price target on NVIDIA from $150.00 to $185.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Cantor Fitzgerald restated an "overweight" rating and set a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Benchmark reaffirmed a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a report on Tuesday, January 7th. Stifel Nicolaus boosted their price target on shares of NVIDIA from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. Finally, HSBC reduced their price objective on shares of NVIDIA from $195.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $164.63.

NVIDIA Stock Up 2.3 %

NVDA opened at $140.83 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 12 month low of $58.58 and a 12 month high of $153.13. The stock has a market capitalization of $3.45 trillion, a P/E ratio of 55.42, a P/E/G ratio of 2.48 and a beta of 1.64. The business has a 50 day simple moving average of $138.84 and a 200-day simple moving average of $129.11.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA's quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.38 earnings per share. On average, equities analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were issued a $0.01 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is presently 1.57%.

Insider Activity

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares of the company's stock, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John Dabiri sold 716 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,108,348 shares of company stock worth $146,506,958. Company insiders own 4.23% of the company's stock.

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.