Key Financial Inc Has $3.82 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Key Financial Inc boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 946.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,910 shares of the computer hardware maker’s stock after acquiring an additional 27,957 shares during the period. NVIDIA accounts for 0.9% of Key Financial Inc’s investment portfolio, making the stock its 27th biggest holding. Key Financial Inc’s holdings in NVIDIA were worth $3,819,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BLB&B Advisors LLC increased its stake in NVIDIA by 843.8% in the second quarter. BLB&B Advisors LLC now owns 570,768 shares of the computer hardware maker’s stock valued at $70,513,000 after acquiring an additional 510,294 shares during the period. Cypress Point Wealth Management LLC increased its stake in NVIDIA by 772.8% in the second quarter. Cypress Point Wealth Management LLC now owns 5,979 shares of the computer hardware maker’s stock valued at $739,000 after acquiring an additional 5,294 shares during the period. McAdam LLC increased its stake in NVIDIA by 945.0% in the second quarter. McAdam LLC now owns 84,614 shares of the computer hardware maker’s stock valued at $10,453,000 after acquiring an additional 76,517 shares during the period. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD increased its stake in NVIDIA by 752.9% in the second quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 56,720 shares of the computer hardware maker’s stock valued at $7,006,000 after acquiring an additional 50,070 shares during the period. Finally, Perennial Advisors LLC increased its stake in NVIDIA by 910.9% in the second quarter. Perennial Advisors LLC now owns 147,838 shares of the computer hardware maker’s stock valued at $18,264,000 after acquiring an additional 133,213 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Up 4.0 %

NVIDIA stock opened at $120.87 on Wednesday. The company has a market cap of $2.97 trillion, a P/E ratio of 70.68, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.76. The company has a fifty day simple moving average of $115.64 and a 200 day simple moving average of $107.64. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

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

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

NVIDIA Cuts Dividend

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 100,110 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $130.10, for a total value of $13,024,311.00. Following the completion of the sale, the executive vice president now owns 3,939,350 shares in the company, valued at $512,509,435. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $134.10, for a total transaction of $16,092,000.00. Following the transaction, the chief executive officer now directly owns 79,254,995 shares of the company’s stock, valued at $10,628,094,829.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 100,110 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the transaction, the executive vice president now directly owns 3,939,350 shares in the company, valued at $512,509,435. The disclosure for this sale can be found here. Insiders sold a total of 4,352,303 shares of company stock worth $521,745,907 over the last quarter. 4.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Needham & Company LLC boosted their price target on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Benchmark restated a “buy” rating and issued a $170.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Tuesday, August 6th. Raymond James upped their target price on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Barclays reduced their target price on shares of NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a research report 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $142.10.

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.