Kimelman & Baird LLC Takes Position in NVIDIA Co. (NASDAQ:NVDA)

Kimelman & Baird LLC acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 6,589 shares of the computer hardware maker’s stock, valued at approximately $814,000.

Other large investors have also recently bought and sold shares of the company. Diversified Investment Strategies LLC acquired a new stake in shares of NVIDIA in the first quarter valued at about $357,000. Privium Fund Management UK Ltd acquired a new stake in shares of NVIDIA during the 1st quarter valued at approximately $2,635,000. Astoria Portfolio Advisors LLC. lifted its position in shares of NVIDIA by 3.0% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 9,132 shares of the computer hardware maker’s stock valued at $7,853,000 after acquiring an additional 264 shares during the period. OneAscent Wealth Management LLC grew its holdings in shares of NVIDIA by 49.2% in the 1st quarter. OneAscent Wealth Management LLC now owns 785 shares of the computer hardware maker’s stock worth $709,000 after acquiring an additional 259 shares during the period. Finally, OneAscent Financial Services LLC increased its stake in NVIDIA by 6.5% in the 1st quarter. OneAscent Financial Services LLC now owns 5,920 shares of the computer hardware maker’s stock valued at $5,349,000 after purchasing an additional 359 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,516,270 shares of company stock worth $291,803,127 in the last 90 days. 4.23% of the stock is owned by company insiders.

NVIDIA Stock Performance

Shares of NVDA stock opened at $132.76 on Friday. 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 company has a market cap of $3.26 trillion, a PE ratio of 62.33, a P/E/G ratio of 1.50 and a beta of 1.67. The company’s fifty day simple moving average is $125.13 and its 200-day simple moving average is $115.47. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $144.42.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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 company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period last year, the company posted $0.25 earnings per share. The firm’s revenue was up 122.4% compared to the same quarter last year. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA announced that its board has initiated a stock repurchase plan 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 purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 1.88%.

Analyst Ratings Changes

A number of analysts have commented on the company. KeyCorp boosted their target price on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. TD Cowen raised shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Truist Financial lifted their target price on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Finally, HSBC increased their price target on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Five investment 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. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $143.07.

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.