Suvretta Capital Management LLC Invests $24.27 Million in NVIDIA Co. (NASDAQ:NVDA)

Suvretta Capital Management LLC purchased a new position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 180,756 shares of the computer hardware maker's stock, valued at approximately $24,274,000.

A number of other hedge funds have also bought and sold shares of the company. DiNuzzo Private Wealth Inc. boosted its position in NVIDIA by 0.8% during the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock worth $1,157,000 after purchasing an additional 71 shares during the period. Baker Boyer National Bank boosted its position in NVIDIA by 3.3% during the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker's stock worth $323,000 after purchasing an additional 76 shares during the period. SC&H Financial Advisors Inc. boosted its position in NVIDIA by 1.6% during the fourth quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker's stock worth $681,000 after purchasing an additional 80 shares during the period. DecisionPoint Financial LLC boosted its position in NVIDIA by 2.9% during the fourth quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker's stock worth $386,000 after purchasing an additional 80 shares during the period. Finally, Matthew Goff Investment Advisor LLC boosted its position in NVIDIA by 0.7% during the fourth quarter. Matthew Goff Investment Advisor LLC now owns 11,496 shares of the computer hardware maker's stock worth $1,544,000 after purchasing an additional 84 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wedbush reissued an "outperform" rating on shares of NVIDIA in a research report on Thursday. Summit Insights raised shares of NVIDIA from a "hold" rating to a "buy" rating in a research report on Thursday. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a research report on Wednesday, April 16th. Morgan Stanley reissued an "overweight" rating and issued a $170.00 target price (up previously from $160.00) on shares of NVIDIA in a research report on Thursday. Finally, Hsbc Global Res cut shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $171.66.

Insider Buying and Selling at NVIDIA

In other news, Director Robert K. Burgess sold 53,324 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the sale, the director now owns 251,044 shares of the company's stock, valued at $28,993,071.56. This trade represents a 17.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the sale, the insider now directly owns 479,428 shares of the company's stock, valued at approximately $55,997,190.40. This trade represents a 0.93% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 147,147 shares of company stock valued at $17,133,207. 4.17% of the stock is currently owned by company insiders.

NVIDIA Price Performance

NASDAQ NVDA traded up $2.25 during trading on Monday, hitting $137.38. 195,048,031 shares of the company's stock were exchanged, compared to its average volume of 284,142,630. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.36 trillion, a PE ratio of 54.07, a P/E/G ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a fifty-two week low of $86.62 and a fifty-two week high of $195.95. The stock's 50 day moving average price is $115.95 and its two-hundred day moving average price is $126.21.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm's quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.61 EPS. Research analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's dividend payout ratio is presently 1.29%.

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.