NVIDIA Co. (NASDAQ:NVDA) Position Raised by KP Management LLC

KP Management LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 833.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 140,000 shares of the computer hardware maker’s stock after acquiring an additional 125,000 shares during the period. NVIDIA makes up 6.0% of KP Management LLC’s investment portfolio, making the stock its largest position. KP Management LLC’s holdings in NVIDIA were worth $17,296,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA during the second quarter valued at about $25,000. DHJJ Financial Advisors Ltd. grew its stake in NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares in the last quarter. FPC Investment Advisory Inc. purchased a new position in NVIDIA during the first quarter valued at approximately $26,000. CGC Financial Services LLC purchased a new stake in NVIDIA in the 2nd quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA in the 1st quarter worth approximately $27,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVDA has been the topic of several research analyst reports. Benchmark reaffirmed a “buy” rating and issued a $170.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Craig Hallum upped their target price on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 price target on shares of NVIDIA in a report on Thursday, October 10th. Rosenblatt Securities reissued a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Finally, TD Cowen raised shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $143.07.

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the completion of the transaction, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the completion of the transaction, the chief executive officer now owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,516,270 shares of company stock worth $291,803,127. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 2.0 %

Shares of NVDA opened at $135.40 on Friday. NVIDIA Co. has a 1-year low of $42.89 and a 1-year high of $144.42. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $125.25 and its 200-day moving average price is $116.01. The firm has a market capitalization of $3.32 trillion, a price-to-earnings ratio of 63.57, a PEG ratio of 1.40 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 EPS. Sell-side analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 1.88%.

NVIDIA declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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.