Voleon Capital Management LP Buys Shares of 653,290 NVIDIA Co. (NASDAQ:NVDA)

Voleon Capital Management LP purchased a new position in NVIDIA Co. (NASDAQ:NVDA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 653,290 shares of the computer hardware maker's stock, valued at approximately $87,730,000. NVIDIA makes up approximately 6.5% of Voleon Capital Management LP's portfolio, making the stock its 2nd biggest holding.

Other hedge funds also recently modified their holdings of the company. FMR LLC raised its stake in shares of NVIDIA by 0.7% in the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after purchasing an additional 6,665,252 shares during the period. Geode Capital Management LLC grew its holdings in shares of NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock worth $74,439,273,000 after buying an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock worth $55,237,367,000 after buying an additional 3,721,331 shares in the last quarter. Norges Bank acquired a new stake in NVIDIA in the 4th quarter valued at approximately $43,515,504,000. Finally, Northern Trust Corp lifted its stake in NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Raymond James reaffirmed a "strong-buy" rating on shares of NVIDIA in a research note on Wednesday, April 16th. Barclays reduced their target price on shares of NVIDIA from $175.00 to $155.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $160.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Morgan Stanley cut their price target on shares of NVIDIA from $162.00 to $160.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Finally, Truist Financial raised their price objective on NVIDIA from $204.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $164.84.

NVIDIA Stock Performance

NVDA opened at $131.80 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a 52-week low of $86.62 and a 52-week high of $195.95. The firm has a market cap of $3.22 trillion, a P/E ratio of 51.87, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. The business's fifty day moving average is $113.31 and its 200-day moving average is $127.02.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. Sell-side analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA's payout ratio is 1.36%.

Insider Activity

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the 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 transaction, the insider now directly owns 479,428 shares in the company, valued at approximately $55,997,190.40. This represents a 0.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Dabiri sold 2,663 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now owns 17,279 shares of the company's stock, valued at approximately $1,900,690. This represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,147 shares of company stock worth $17,133,207. Insiders own 4.23% of the company's stock.

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.

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