Arrowstreet Capital Limited Partnership Acquires 13,571,425 Shares of NVIDIA Co. (NASDAQ:NVDA)

Arrowstreet Capital Limited Partnership grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 26.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,827,070 shares of the computer hardware maker's stock after buying an additional 13,571,425 shares during the period. NVIDIA accounts for about 7.1% of Arrowstreet Capital Limited Partnership's investment portfolio, making the stock its largest position. Arrowstreet Capital Limited Partnership owned about 0.27% of NVIDIA worth $8,840,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Hickory Point Bank & Trust bought a new position in shares of NVIDIA during the 4th quarter valued at approximately $2,272,000. Capital Performance Advisors LLP raised its stake in NVIDIA by 59.3% during the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker's stock valued at $3,586,000 after purchasing an additional 9,944 shares in the last quarter. Ethos Financial Group LLC lifted its position in NVIDIA by 24.1% during the fourth quarter. Ethos Financial Group LLC now owns 32,092 shares of the computer hardware maker's stock valued at $4,312,000 after purchasing an additional 6,241 shares during the last quarter. Metis Global Partners LLC grew its stake in shares of NVIDIA by 3.6% in the 4th quarter. Metis Global Partners LLC now owns 1,464,826 shares of the computer hardware maker's stock worth $196,711,000 after buying an additional 50,978 shares in the last quarter. Finally, Candriam S.C.A. increased its holdings in shares of NVIDIA by 0.5% in the 4th quarter. Candriam S.C.A. now owns 7,061,058 shares of the computer hardware maker's stock worth $948,229,000 after buying an additional 35,684 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Analyst Ratings Changes

NVDA has been the subject of a number of analyst reports. Morgan Stanley lowered their price target on shares of NVIDIA from $162.00 to $160.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Needham & Company LLC reaffirmed a "buy" rating and issued a $160.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Benchmark reissued a "buy" rating and set a $190.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Raymond James restated a "strong-buy" rating on shares of NVIDIA in a research report on Wednesday, April 16th. Finally, Mizuho cut their price objective on shares of NVIDIA from $175.00 to $168.00 and set an "outperform" rating on the stock in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $164.96.

Insider Activity at NVIDIA

In other news, Director John Dabiri sold 2,663 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now directly owns 17,279 shares of the company's stock, valued at $1,900,690. This represents a 13.35 % 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, Director Aarti S. Shah sold 20,000 shares of the company's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the sale, the director now directly owns 53,208 shares in the company, valued at approximately $6,300,891.36. The trade was a 27.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock worth $17,133,207 over the last quarter. Insiders own 4.23% of the company's stock.

NVIDIA Stock Up 2.6 %

Shares of NVDA traded up $2.89 during mid-day trading on Friday, hitting $114.50. 189,662,858 shares of the company traded hands, compared to its average volume of 300,819,709. The company has a market capitalization of $2.79 trillion, a PE ratio of 45.06, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $111.09 and a 200 day moving average of $128.31. NVIDIA Co. has a 1-year low of $86.62 and a 1-year high of $195.95.

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

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Wednesday, March 12th. NVIDIA's dividend payout ratio (DPR) 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.