BlueCrest Capital Management Ltd Takes Position in NVIDIA Corporation $NVDA

BlueCrest Capital Management Ltd purchased a new stake in NVIDIA Corporation (NASDAQ:NVDA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 649,956 shares of the computer hardware maker’s stock, valued at approximately $102,687,000. NVIDIA accounts for about 3.9% of BlueCrest Capital Management Ltd’s holdings, making the stock its 5th largest holding.

Several other hedge funds also recently added to or reduced their stakes in the stock. Harbor Asset Planning Inc. acquired a new position in NVIDIA during the 2nd quarter worth approximately $28,000. Winnow Wealth LLC purchased a new stake in shares of NVIDIA during the second quarter valued at approximately $32,000. Longfellow Investment Management Co. LLC lifted its position in shares of NVIDIA by 47.9% during the second 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 in the last quarter. Spurstone Advisory Services LLC purchased a new position in shares of NVIDIA in the second quarter valued at $40,000. Finally, EDENTREE ASSET MANAGEMENT Ltd acquired a new stake in NVIDIA during the 2nd quarter valued at $54,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

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

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

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Shareholders 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 payout ratio is presently 0.99%.

Insider Buying and Selling

In other news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $176.96, for a total transaction of $13,272,000.00. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Debora Shoquist sold 80,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $184.65, for a total value of $14,772,000.00. Following the completion of the sale, the executive vice president directly owned 1,574,443 shares in the company, valued at approximately $290,720,899.95. This trade represents a 4.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,829,474 shares of company stock valued at $512,805,367 over the last three months. 4.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of recent analyst reports. Wolfe Research boosted their price objective on shares of NVIDIA from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Stifel Nicolaus boosted their price target on NVIDIA from $212.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Daiwa Capital Markets raised their price objective on NVIDIA from $165.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Rosenblatt Securities lifted their price objective on NVIDIA from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, November 20th. Finally, New Street Research reiterated a “buy” rating and set a $307.00 target price on shares of NVIDIA in a research note on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $258.65.

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.