Munro Partners Acquires New Stake in NVIDIA Corporation $NVDA

Munro Partners acquired a new stake in shares of NVIDIA Corporation (NASDAQ:NVDA) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,013,346 shares of the computer hardware maker’s stock, valued at approximately $318,089,000. NVIDIA comprises 10.0% of Munro Partners’ holdings, making the stock its biggest holding.

A number of other institutional investors have also recently modified their holdings of the stock. Provident Investment Management Inc. increased its stake in NVIDIA by 9.0% during the 2nd quarter. Provident Investment Management Inc. now owns 7,907 shares of the computer hardware maker’s stock valued at $1,249,000 after purchasing an additional 654 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of NVIDIA by 4.6% in the second quarter. Thrivent Financial for Lutherans now owns 10,727,375 shares of the computer hardware maker’s stock worth $1,694,905,000 after buying an additional 476,115 shares in the last quarter. MASTERINVEST Kapitalanlage GmbH purchased a new stake in shares of NVIDIA during the second quarter valued at approximately $57,007,000. Nautilus Advisors LLC increased its position in shares of NVIDIA by 1.2% during the second quarter. Nautilus Advisors LLC now owns 12,438 shares of the computer hardware maker’s stock valued at $1,965,000 after acquiring an additional 153 shares in the last quarter. Finally, Silverlake Wealth Management LLC raised its holdings in NVIDIA by 22.3% in the 2nd quarter. Silverlake Wealth Management LLC now owns 12,149 shares of the computer hardware maker’s stock worth $1,919,000 after acquiring an additional 2,215 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on NVDA shares. Needham & Company LLC reiterated a “buy” rating and set a $240.00 target price on shares of NVIDIA in a research note on Thursday, November 20th. Citic Securities increased their price objective on NVIDIA from $237.00 to $242.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. Stifel Nicolaus boosted their target price on NVIDIA from $212.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Morgan Stanley upped their target price on shares of NVIDIA from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, December 1st. Finally, Raymond James Financial set a $272.00 price target on shares of NVIDIA and gave the stock a “strong-buy” rating in a research note on Thursday, November 20th. Four analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $258.65.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Monday, September 29th. The stock was sold at an average price of $182.34, for a total transaction of $13,675,500.00. Following the transaction, the chief executive officer directly owned 71,158,203 shares in the company, valued at approximately $12,974,986,735.02. The trade was a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 350,000 shares of the business’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $176.39, for a total value of $61,736,500.00. Following the sale, the director directly owned 7,399,803 shares of the company’s stock, valued at $1,305,251,251.17. This represents a 4.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,754,474 shares of company stock valued at $499,562,617 in the last 90 days. 4.17% of the stock is owned by company insiders.

NVIDIA Price Performance

NASDAQ NVDA opened at $176.29 on Tuesday. The company has a 50-day moving average price of $186.51 and a 200-day moving average price of $174.35. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $212.19. The company has a quick ratio of 3.71, a current ratio of 4.47 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $4.28 trillion, a P/E ratio of 43.74, a PEG ratio of 0.86 and a beta of 2.29.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $54.66 billion. During the same period in the previous year, the business posted $0.81 earnings per share. The firm’s quarterly revenue was up 62.5% compared to the same quarter last year. Equities research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Thursday, December 4th will be paid 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 dividend payout ratio is 0.99%.

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.