Keener Financial Planning LLC Grows Stake in NVIDIA Co. (NASDAQ:NVDA)

Keener Financial Planning LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 900.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,310 shares of the computer hardware maker’s stock after purchasing an additional 3,879 shares during the quarter. NVIDIA makes up 0.3% of Keener Financial Planning LLC’s portfolio, making the stock its 22nd biggest holding. Keener Financial Planning LLC’s holdings in NVIDIA were worth $532,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after buying an additional 163,482,580 shares during the last quarter. Baillie Gifford & Co. boosted its stake in NVIDIA by 696.6% during the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock valued at $10,137,521,000 after buying an additional 71,757,065 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in NVIDIA by 829.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock valued at $7,913,435,000 after buying an additional 57,160,191 shares during the last quarter. Swedbank AB lifted its stake in shares of NVIDIA by 798.8% in the 2nd quarter. Swedbank AB now owns 39,020,364 shares of the computer hardware maker’s stock valued at $4,820,576,000 after purchasing an additional 34,678,944 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of NVIDIA in the 4th quarter valued at approximately $14,606,369,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA opened at $116.00 on Friday. The stock has a 50-day moving average of $115.99 and a two-hundred day moving average of $106.97. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock has a market cap of $2.85 trillion, a P/E ratio of 67.84, a P/E/G ratio of 1.06 and a beta of 1.67.

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

NVIDIA declared that its Board of Directors has authorized a stock buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders 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 (DPR) is presently 2.34%.

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $120.84, for a total value of $14,500,800.00. Following the completion of the transaction, the chief executive officer now owns 80,574,995 shares of the company’s stock, valued at approximately $9,736,682,395.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $130.10, for a total value of $13,024,311.00. Following the completion of the transaction, the executive vice president now owns 3,939,350 shares of the company’s stock, valued at approximately $512,509,435. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $120.84, for a total value of $14,500,800.00. Following the completion of the transaction, the chief executive officer now directly owns 80,574,995 shares of the company’s stock, valued at approximately $9,736,682,395.80. The disclosure for this sale can be found here. Insiders sold a total of 3,692,303 shares of company stock valued at $444,047,307 in the last quarter. 4.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on NVDA. Tigress Financial raised their price objective on NVIDIA from $98.50 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Jefferies Financial Group raised their price target on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Sanford C. Bernstein raised their price target on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. DZ Bank lowered NVIDIA from a “buy” rating to a “hold” rating and set a $102.50 price target for the company. in a research note on Friday, May 24th. Finally, JPMorgan Chase & Co. raised their price target on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Five 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $142.10.

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.