Adage Capital Partners GP L.L.C. Raises Stake in NVIDIA Corporation $NVDA

Adage Capital Partners GP L.L.C. lifted its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 0.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 22,538,210 shares of the computer hardware maker’s stock after buying an additional 50,100 shares during the quarter. NVIDIA comprises approximately 6.0% of Adage Capital Partners GP L.L.C.’s investment portfolio, making the stock its largest position. Adage Capital Partners GP L.L.C.’s holdings in NVIDIA were worth $3,560,812,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in NVIDIA by 2.2% during the 2nd quarter. AQR Capital Management LLC now owns 19,624,757 shares of the computer hardware maker’s stock valued at $3,073,433,000 after purchasing an additional 419,994 shares during the last quarter. Alden Global Capital LLC bought a new position in shares of NVIDIA during the second quarter valued at $24,364,000. Aberdeen Wealth Management LLC boosted its position in shares of NVIDIA by 1.1% during the second quarter. Aberdeen Wealth Management LLC now owns 17,910 shares of the computer hardware maker’s stock valued at $2,830,000 after buying an additional 200 shares during the last quarter. Absoluto Partners Gestao de Recursos Ltda raised its position in NVIDIA by 30.6% in the 2nd quarter. Absoluto Partners Gestao de Recursos Ltda now owns 18,107 shares of the computer hardware maker’s stock worth $2,861,000 after buying an additional 4,238 shares during the last quarter. Finally, Strategic Wealth Investment Group LLC raised its position in NVIDIA by 2.6% in the 2nd quarter. Strategic Wealth Investment Group LLC now owns 14,385 shares of the computer hardware maker’s stock worth $2,273,000 after buying an additional 364 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on NVDA. KeyCorp lifted their price target on shares of NVIDIA from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, November 20th. Daiwa Capital Markets lifted their target price on shares of NVIDIA from $165.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 17th. Citic Securities increased their price target on NVIDIA from $237.00 to $242.00 and gave the company a “buy” rating in a report on Thursday, November 20th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $250.00 price objective (up previously from $240.00) on shares of NVIDIA in a report on Thursday, November 20th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of NVIDIA in a report on Monday. Four analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $258.65.

Insiders Place Their Bets

In related news, Director Harvey C. Jones sold 250,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $176.21, for a total transaction of $44,052,500.00. Following the sale, the director owned 7,183,280 shares of the company’s stock, valued at approximately $1,265,765,768.80. This trade represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $176.96, for a total value of $13,272,000.00. Following the completion of the transaction, the chief executive officer directly owned 71,308,203 shares in the company, valued at approximately $12,618,699,602.88. This represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 2,829,474 shares of company stock worth $512,805,367. 4.17% of the stock is currently owned by insiders.

NVIDIA Trading Down 3.3%

NVIDIA stock opened at $175.02 on Friday. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $212.19. The firm has a market capitalization of $4.25 trillion, a price-to-earnings ratio of 43.43, a P/E/G ratio of 0.89 and a beta of 2.29. The firm has a 50 day moving average of $186.69 and a 200 day moving average of $173.54. The company has a current ratio of 4.47, a quick ratio of 3.71 and a debt-to-equity ratio of 0.06.

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

NVIDIA Dividend Announcement

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

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.