Knuff & Co LLC Has $6.63 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Knuff & Co LLC lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 838.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 53,660 shares of the computer hardware maker’s stock after acquiring an additional 47,944 shares during the period. NVIDIA accounts for about 2.2% of Knuff & Co LLC’s portfolio, making the stock its 14th largest position. Knuff & Co LLC’s holdings in NVIDIA were worth $6,629,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. International Private Wealth Advisors LLC raised its stake in NVIDIA by 1,452.1% during the 2nd quarter. International Private Wealth Advisors LLC now owns 7,512 shares of the computer hardware maker’s stock worth $928,000 after buying an additional 7,028 shares during the period. Lafayette Investments Inc. increased its holdings in shares of NVIDIA by 901.8% during the second quarter. Lafayette Investments Inc. now owns 5,710 shares of the computer hardware maker’s stock valued at $705,000 after acquiring an additional 5,140 shares in the last quarter. BSN CAPITAL PARTNERS Ltd raised its position in shares of NVIDIA by 51.4% during the second quarter. BSN CAPITAL PARTNERS Ltd now owns 417,930 shares of the computer hardware maker’s stock worth $51,823,000 after purchasing an additional 141,930 shares during the period. BLB&B Advisors LLC lifted its holdings in shares of NVIDIA by 843.8% in the 2nd quarter. BLB&B Advisors LLC now owns 570,768 shares of the computer hardware maker’s stock worth $70,513,000 after purchasing an additional 510,294 shares in the last quarter. Finally, Cypress Point Wealth Management LLC grew its position in NVIDIA by 772.8% in the 2nd quarter. Cypress Point Wealth Management LLC now owns 5,979 shares of the computer hardware maker’s stock valued at $739,000 after purchasing an additional 5,294 shares during the period. 65.27% of the stock is owned by institutional investors.

NVIDIA Trading Down 3.7 %

NASDAQ:NVDA opened at $117.00 on Wednesday. The company has a market capitalization of $2.88 trillion, a P/E ratio of 68.42, a PEG ratio of 1.05 and a beta of 1.67. 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 Co. has a 12 month low of $39.23 and a 12 month high of $140.76. The firm has a fifty day simple moving average of $115.72 and a 200-day simple moving average of $108.79.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same period last year, the firm posted $0.25 EPS. On average, equities research analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its Board of Directors has approved a stock repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Citigroup boosted their target price on shares of NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Sanford C. Bernstein increased their price objective on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Robert W. Baird lifted their target price on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Mizuho increased their price target on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, Wedbush restated an “outperform” rating and set a $138.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Friday, July 5th. The shares were sold at an average price of $127.14, for a total value of $15,256,800.00. Following the sale, the chief executive officer now owns 79,614,995 shares of the company’s stock, valued at approximately $10,122,250,464.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $127.14, for a total transaction of $15,256,800.00. Following the completion of the transaction, the chief executive officer now owns 79,614,995 shares of the company’s stock, valued at $10,122,250,464.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Stevens sold 40,000 shares of NVIDIA stock in a transaction on Friday, September 27th. The stock was sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the sale, the director now directly owns 8,380,117 shares in the company, valued at approximately $1,014,077,958.17. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,197,403 shares of company stock worth $501,955,984. 4.23% of the stock is owned by corporate insiders.

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.