Renaissance Technologies LLC Raises Position in NVIDIA Co. (NASDAQ:NVDA)

Renaissance Technologies LLC lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,551,227 shares of the computer hardware maker’s stock after acquiring an additional 23,156 shares during the period. NVIDIA makes up 0.7% of Renaissance Technologies LLC’s holdings, making the stock its 11th biggest holding. Renaissance Technologies LLC’s holdings in NVIDIA were worth $477,000,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC increased its stake in shares of NVIDIA by 0.7% in the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after buying an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC increased its position in shares of NVIDIA by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after purchasing an additional 9,468,786 shares during the last quarter. Norges Bank acquired a new stake in shares of NVIDIA in the 4th quarter valued at about $43,515,504,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of NVIDIA by 3.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock worth $21,908,236,000 after purchasing an additional 6,526,200 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in NVIDIA by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 151,280,130 shares of the computer hardware maker’s stock valued at $20,315,409,000 after buying an additional 5,211,040 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NVDA. Bank of America dropped their price target on NVIDIA from $200.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. William Blair restated an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. HSBC downgraded shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Thursday, April 3rd. UBS Group restated a “buy” rating on shares of NVIDIA in a research note on Friday, April 25th. Finally, Susquehanna reiterated a “positive” rating and set a $180.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $164.96.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the transaction, the insider now directly owns 479,428 shares of the company’s stock, valued at approximately $55,997,190.40. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the sale, the chief financial officer now directly owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is currently owned by company insiders.

NVIDIA Trading Up 0.3 %

NASDAQ NVDA opened at $117.38 on Friday. The firm’s 50 day moving average price is $110.28 and its two-hundred day moving average price is $127.55. The stock has a market cap of $2.86 trillion, a price-to-earnings ratio of 46.20, a PEG ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a twelve month low of $86.62 and a twelve month high of $195.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. Equities analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.36%.

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.