Bayesian Capital Management LP Acquires Shares of 66,000 NVIDIA Co. (NASDAQ:NVDA)

11 Dec 2023, 19:22 by Sarita Garza · The Markets Daily

Bayesian Capital Management LP acquired a new stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 66,000 shares of the computer hardware maker’s stock, valued at approximately $27,919,000. NVIDIA makes up about 3.0% of Bayesian Capital Management LP’s portfolio, making the stock its largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Marquette Asset Management LLC acquired a new position in shares of NVIDIA during the 2nd quarter worth $34,000. Quarry LP acquired a new position in shares of NVIDIA during the 1st quarter worth $34,000. Compass Wealth Management LLC acquired a new position in shares of NVIDIA during the 4th quarter worth $39,000. MRP Capital Investments LLC acquired a new position in shares of NVIDIA during the 2nd quarter worth $42,000. Finally, 25 LLC acquired a new position in shares of NVIDIA during the 1st quarter worth $46,000. 64.79% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $475.06 on Monday. The company has a market cap of $1.17 trillion, a PE ratio of 62.67, a price-to-earnings-growth ratio of 3.16 and a beta of 1.69. NVIDIA Co. has a 52 week low of $138.84 and a 52 week high of $505.48. The business has a 50 day moving average price of $457.06 and a 200-day moving average price of $443.29. The company has a quick ratio of 3.06, a current ratio of 3.59 and a debt-to-equity ratio of 0.25.

NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its quarterly earnings data on Tuesday, November 21st. The computer hardware maker reported $4.02 EPS for the quarter, topping the consensus estimate of $3.03 by $0.99. The firm had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $16.19 billion. NVIDIA had a return on equity of 72.28% and a net margin of 42.10%. The company’s quarterly revenue was up 205.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 earnings per share. Equities analysts anticipate that NVIDIA Co. will post 10.94 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Wednesday, December 6th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Tuesday, December 5th. NVIDIA’s payout ratio is 2.11%.

Insider Activity at NVIDIA

In related news, EVP Debora Shoquist sold 20,000 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $481.85, for a total transaction of $9,637,000.00. Following the completion of the sale, the executive vice president now directly owns 109,860 shares of the company’s stock, valued at $52,936,041. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Debora Shoquist sold 20,000 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $481.85, for a total transaction of $9,637,000.00. Following the transaction, the executive vice president now owns 109,860 shares of the company’s stock, valued at approximately $52,936,041. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $483.18, for a total value of $4,831,800.00. Following the transaction, the director now directly owns 989,831 shares in the company, valued at approximately $478,266,542.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,730 shares of company stock valued at $35,686,991. 3.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Sanford C. Bernstein upped their target price on NVIDIA from $675.00 to $700.00 and gave the stock an “outperform” rating in a report on Wednesday, November 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $600.00 target price on shares of NVIDIA in a report on Wednesday, November 22nd. Phillip Securities raised NVIDIA from an “accumulate” rating to a “buy” rating in a report on Monday, August 28th. Edward Jones cut NVIDIA from a “buy” rating to a “hold” rating in a report on Wednesday, November 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating on shares of NVIDIA in a report on Wednesday, November 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $588.38.

Read Our Latest Report on NVDA

NVIDIA Profile

(Free Report)

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

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