Absoluto Partners Gestao de Recursos Ltda Acquires 4,238 Shares of NVIDIA Corporation $NVDA

Absoluto Partners Gestao de Recursos Ltda grew its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 30.6% in the 2nd quarter, Holdings Channel reports. The fund owned 18,107 shares of the computer hardware maker’s stock after purchasing an additional 4,238 shares during the quarter. NVIDIA accounts for 1.7% of Absoluto Partners Gestao de Recursos Ltda’s portfolio, making the stock its 14th biggest position. Absoluto Partners Gestao de Recursos Ltda’s holdings in NVIDIA were worth $2,861,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Harbor Asset Planning Inc. acquired a new position in shares of NVIDIA in the second quarter valued at approximately $28,000. Winnow Wealth LLC bought a new stake in NVIDIA in the 2nd quarter valued at $32,000. Longfellow Investment Management Co. LLC boosted its stake in NVIDIA by 47.9% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock worth $33,000 after purchasing an additional 67 shares during the period. Spurstone Advisory Services LLC acquired a new position in NVIDIA in the 2nd quarter worth $40,000. Finally, EDENTREE ASSET MANAGEMENT Ltd bought a new position in NVIDIA during the 2nd quarter worth about $54,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVDA. BNP Paribas Exane upped their price objective on NVIDIA from $240.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 18th. Truist Financial boosted their target price on NVIDIA from $228.00 to $255.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. Oppenheimer reaffirmed an “outperform” rating and set a $265.00 price target on shares of NVIDIA in a research report on Thursday, November 20th. Citic Securities lifted their price objective on shares of NVIDIA from $237.00 to $242.00 and gave the company a “buy” rating in a report on Thursday, November 20th. Finally, CICC Research boosted their price objective on shares of NVIDIA from $200.00 to $228.00 and gave the stock an “outperform” rating in a research report on Friday, November 21st. Four equities research analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $258.65.

NVIDIA Stock Performance

NASDAQ NVDA opened at $175.02 on Friday. The firm has a market capitalization of $4.25 trillion, a P/E ratio of 43.43, a price-to-earnings-growth ratio of 0.89 and a beta of 2.29. The company has a current ratio of 4.47, a quick ratio of 3.71 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average price is $186.69 and its two-hundred day moving average price is $173.54. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $212.19.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 19th. The computer hardware maker reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.07. The company had revenue of $57.01 billion during the quarter, compared to the consensus estimate of $54.66 billion. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. The company’s quarterly revenue was up 62.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 EPS. As a group, research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Thursday, December 4th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date is Thursday, December 4th. NVIDIA’s dividend payout ratio is 0.99%.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 350,000 shares of the stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $181.73, for a total value of $63,605,500.00. Following the transaction, the director directly owned 7,049,803 shares of the company’s stock, valued at $1,281,160,699.19. This represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Debora Shoquist sold 69,840 shares of NVIDIA stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $177.85, for a total transaction of $12,421,044.00. Following the sale, the executive vice president directly owned 1,424,603 shares of the company’s stock, valued at $253,365,643.55. The trade was a 4.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,829,474 shares of company stock worth $512,805,367 in the last quarter. Company insiders own 4.17% 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.