Kessler Investment Group LLC Increases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Kessler Investment Group LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 14.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 47,927 shares of the computer hardware maker’s stock after buying an additional 5,943 shares during the quarter. NVIDIA makes up 3.0% of Kessler Investment Group LLC’s portfolio, making the stock its 16th largest holding. Kessler Investment Group LLC’s holdings in NVIDIA were worth $5,820,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC purchased a new position in NVIDIA during the second quarter valued at $25,000. DHJJ Financial Advisors Ltd. lifted its holdings 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 purchasing an additional 190 shares in the last quarter. CGC Financial Services LLC purchased a new position in NVIDIA during the second quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA during the first quarter valued at $27,000. Finally, Quest Partners LLC purchased a new position in NVIDIA during the second quarter valued at $27,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NVDA shares. Truist Financial increased their target price on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Benchmark increased their target price on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Citigroup increased their target price on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. UBS Group increased their target price on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company increased their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Trading Up 2.2 %

NASDAQ NVDA opened at $138.25 on Friday. The firm has a 50 day simple moving average of $136.05 and a 200-day simple moving average of $123.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a one year low of $45.01 and a one year high of $152.89. The firm has a market cap of $3.39 trillion, a price-to-earnings ratio of 54.41, a PEG ratio of 2.45 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The firm’s quarterly revenue was up 93.6% on a year-over-year basis. Equities research analysts anticipate that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a $0.01 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

NVIDIA announced that its Board of Directors has authorized a stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the sale, the chief executive officer now owns 76,375,705 shares of the company’s stock, valued at $8,459,373,085.80. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,036,986 shares of company stock worth $240,602,399 over the last 90 days. 4.23% of the stock is owned by 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.