Integrated Quantitative Investments LLC has made a significant move by acquiring a new position in shares of NVIDIA Corporation (NASDAQ: NVDA) during the second quarter of 2023. According to recent filings with the Securities and Exchange Commission (SEC), the investment firm purchased 28,926 shares valued at approximately $4.57 million. This acquisition now makes NVIDIA the second largest position in Integrated Quantitative Investments’ portfolio, accounting for about 1.3% of its total investments.
In recent months, several other institutional investors have also increased or adjusted their stakes in NVIDIA. Brighton Jones LLC raised its investment in NVIDIA by 12.4% in the fourth quarter, acquiring an additional 35,815 shares and bringing its total to 324,901 shares, valued at $43.63 million. Similarly, Bank Pictet & Cie Europe AG increased its holdings by 1.0%, now owning 2,346,417 shares worth approximately $315.1 million after purchasing an additional 22,929 shares.
Highview Capital Management LLC DE and Hudson Value Partners LLC also boosted their positions by 6.7% and 30.7%, respectively. Highview now holds 58,396 shares valued at $7.84 million, while Hudson’s investment increased to 50,658 shares worth $6.81 million. Additionally, Wealth Group Ltd. enhanced its stake by 15.7% in the first quarter, now owning 6,598 shares valued at $715,000. Overall, hedge funds and institutional investors control 65.27% of NVIDIA’s shares.
Analyst Ratings and Market Performance
Recent reports from equities analysts indicate a strong outlook for NVIDIA. Weiss Ratings reaffirmed a “buy (b)” rating on December 1, 2023. Citigroup raised its target price for NVIDIA shares from $220.00 to $270.00, while JPMorgan Chase & Co. increased its target from $215.00 to $250.00, both maintaining a positive rating for the stock. Daiwa Capital Markets also raised its price target from $165.00 to $205.00, and Raymond James Financial set a target of $272.00 with a “strong-buy” rating.
Currently, four investment analysts rate the stock as a Strong Buy, forty-six give it a Buy rating, while two analysts have assigned a Hold rating and one has issued a Sell rating. Data from MarketBeat.com shows an average rating of “Buy” with a consensus price target of $258.65.
As of Friday, NVIDIA shares opened at $182.41. The company boasts a market capitalization of $4.43 trillion, a price-to-earnings (PE) ratio of 45.26, and a price-to-earnings-growth (PEG) ratio of 0.90. The stock has seen a 52-week low of $86.62 and a high of $212.19, with a fifty-day simple moving average of $187.13 and a 200-day average of $172.08.
Recent Earnings and Dividend Announcement
NVIDIA recently released its quarterly earnings data, revealing an earnings per share (EPS) of $1.30, exceeding analysts’ expectations of $1.23 by $0.07. The company reported revenue of $57.01 billion, surpassing estimates of $54.66 billion, marking a year-over-year revenue increase of 62.5%. The company also noted a net margin of 53.01% and a return on equity of 99.24%.
In addition to its financial performance, NVIDIA has announced a quarterly dividend set to be paid on December 26, 2023. Shareholders of record on December 4, 2023 will receive a dividend of $0.01 per share, equating to an annualized dividend of $0.04 and a yield of 0.0%.
In related news, Director Harvey C. Jones sold 250,000 shares of NVIDIA on September 18, 2023, at an average price of $176.21, totaling $44.05 million. Following this transaction, Jones retains 7,183,280 shares, valued at approximately $1.27 billion. Another Director, Mark A. Stevens, sold 350,000 shares on September 19, 2023, for $61.74 million. Insider sales in the last ninety days have totaled 2,949,931 shares worth $531.61 million, with insiders holding 4.17% of the company’s stock.
NVIDIA Corporation continues to be a key player in providing advanced graphics and compute solutions, with a strong presence both in the United States and internationally, including Taiwan, China, and Hong Kong. The company’s diverse offerings include GeForce GPUs for gaming, enterprise graphics solutions, and automotive platforms, among others.
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