Saratoga Research & Investment Management Buys 5,896 Shares of NVIDIA Corporation $NVDA

Saratoga Research & Investment Management boosted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,161 shares of the computer hardware maker’s stock after purchasing an additional 5,896 shares during the quarter. NVIDIA accounts for approximately 0.9% of Saratoga Research & Investment Management’s holdings, making the stock its 29th biggest position. Saratoga Research & Investment Management’s holdings in NVIDIA were worth $16,140,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Harbor Asset Planning Inc. bought a new stake in shares of NVIDIA in the 2nd quarter worth approximately $28,000. Winnow Wealth LLC bought a new stake in shares of NVIDIA during the second quarter valued at approximately $32,000. Longfellow Investment Management Co. LLC raised its stake in shares of NVIDIA by 47.9% in the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock valued at $33,000 after purchasing an additional 67 shares in the last quarter. Spurstone Advisory Services LLC bought a new position in NVIDIA in the second quarter worth $40,000. Finally, Kathleen S. Wright Associates Inc. boosted its stake in NVIDIA by 169.3% during the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock worth $44,000 after buying an additional 254 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of NVIDIA from a “hold” rating to a “buy” rating in a report on Sunday, October 19th. Jefferies Financial Group reissued a “buy” rating and issued a $250.00 price target (up previously from $240.00) on shares of NVIDIA in a research report on Thursday, November 20th. DA Davidson restated a “buy” rating and set a $250.00 price target on shares of NVIDIA in a research note on Thursday, November 20th. Wedbush lifted their price objective on NVIDIA from $210.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, November 20th. Finally, TD Cowen upped their price objective on NVIDIA from $140.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, August 19th. Four analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $258.65.

NVIDIA Stock Down 3.3%

Shares of NVDA opened at $175.02 on Monday. The company has a market capitalization of $4.25 trillion, a P/E ratio of 43.43, a PEG ratio of 0.86 and a beta of 2.29. NVIDIA Corporation has a one year low of $86.62 and a one year high of $212.19. The business’s 50 day simple moving average is $186.69 and its 200-day simple moving average is $174.09. 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 (NASDAQ:NVDA) last issued its quarterly earnings data 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. The firm had revenue of $57.01 billion during the quarter, compared to the consensus estimate of $54.66 billion. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.The business’s revenue for the quarter was up 62.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 EPS. As a group, sell-side analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Activity

In other news, EVP Debora Shoquist sold 69,840 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were 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. This represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director A Brooke Seawell sold 12,728 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $183.93, for a total transaction of $2,341,061.04. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 2,754,474 shares of company stock worth $499,562,617. 4.17% of the stock is currently owned by insiders.

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.