KCM Investment Advisors LLC Acquires 351,936 Shares of NVIDIA Co. (NASDAQ:NVDA)

KCM Investment Advisors LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 896.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 391,190 shares of the computer hardware maker’s stock after buying an additional 351,936 shares during the period. NVIDIA makes up 1.7% of KCM Investment Advisors LLC’s holdings, making the stock its 10th largest position. KCM Investment Advisors LLC’s holdings in NVIDIA were worth $48,328,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA in the first quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA in the first quarter valued at about $27,000. HBC Financial Services PLLC acquired a new position in shares of NVIDIA in the first quarter valued at about $30,000. Norwood Financial Corp acquired a new position in shares of NVIDIA in the first quarter valued at about $45,000. Finally, Coston McIsaac & Partners increased its holdings in shares of NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after purchasing an additional 37 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $120.87 on Wednesday. The business has a 50 day simple moving average of $115.64 and a two-hundred day simple moving average of $107.64. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.76. The stock has a market capitalization of $2.97 trillion, a P/E ratio of 70.68, a PEG ratio of 1.06 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter last year, the firm earned $0.25 earnings per share. The business’s revenue for the quarter was up 122.4% on a year-over-year basis. As a group, analysts predict that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 2.34%.

NVIDIA announced that its board has initiated a stock repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of research reports. Wells Fargo & Company increased their price objective on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Mizuho increased their price objective on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Tuesday, August 6th. The Goldman Sachs Group restated a “buy” rating and issued a $135.00 target price on shares of NVIDIA in a research note on Monday, August 19th. Finally, Barclays lowered their target price on NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, June 10th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $142.10.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $125.04, for a total transaction of $15,004,800.00. Following the completion of the sale, the chief executive officer now owns 80,094,995 shares of the company’s stock, valued at $10,015,078,174.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,352,303 shares of company stock valued at $521,745,907. 4.23% 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.