Jericho Financial LLP Invests $5.79 Million in NVIDIA Co. (NASDAQ:NVDA)

Jericho Financial LLP acquired a new position in NVIDIA Co. (NASDAQ:NVDA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 43,109 shares of the computer hardware maker's stock, valued at approximately $5,789,000. NVIDIA comprises 4.2% of Jericho Financial LLP's portfolio, making the stock its 11th biggest position.

A number of other hedge funds have also recently made changes to their positions in the business. Hoertkorn Richard Charles increased its stake in NVIDIA by 2.0% during the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker's stock valued at $424,000 after purchasing an additional 70 shares in the last quarter. DiNuzzo Private Wealth Inc. boosted its holdings in shares of NVIDIA by 0.8% during the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock valued at $1,157,000 after acquiring an additional 71 shares during the last quarter. Smart Portfolios LLC boosted its holdings in shares of NVIDIA by 2.7% during the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker's stock valued at $341,000 after acquiring an additional 75 shares during the last quarter. Palisade Asset Management LLC boosted its holdings in shares of NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock valued at $1,866,000 after acquiring an additional 75 shares during the last quarter. Finally, Baker Boyer National Bank boosted its holdings in shares of NVIDIA by 3.3% during the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker's stock valued at $323,000 after acquiring an additional 76 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NVDA. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a report on Thursday, February 27th. Piper Sandler raised their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company an "overweight" rating in a report on Monday, November 11th. Wedbush reaffirmed an "outperform" rating and set a $175.00 price target on shares of NVIDIA in a report on Thursday, February 20th. Loop Capital reaffirmed a "buy" rating and set a $175.00 price target on shares of NVIDIA in a report on Wednesday, November 20th. Finally, Susquehanna raised their price target on shares of NVIDIA from $160.00 to $180.00 and gave the company a "positive" rating in a report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA presently has a consensus rating of "Moderate Buy" and a consensus price target of $169.62.

Insider Activity

In other news, CFO Colette Kress sold 66,670 shares of the company's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the sale, the chief financial officer now directly owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the company's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,107,632 shares of company stock worth $146,405,286. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Up 1.1 %

NASDAQ NVDA opened at $117.30 on Thursday. The stock has a 50 day moving average price of $132.73 and a 200-day moving average price of $131.90. NVIDIA Co. has a one year low of $75.61 and a one year high of $153.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a market capitalization of $2.86 trillion, a P/E ratio of 46.16, a P/E/G ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.05. The business had revenue of $39.33 billion during the quarter, compared to analysts' expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, equities analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA's dividend payout ratio is 1.36%.

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.

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