Keb Asset Management LLC Purchases 2,584 Shares of NVIDIA Co. (NASDAQ:NVDA)

Keb Asset Management LLC boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1,118.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,815 shares of the computer hardware maker’s stock after acquiring an additional 2,584 shares during the quarter. Keb Asset Management LLC’s holdings in NVIDIA were worth $348,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. boosted its holdings 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 worth $10,137,521,000 after purchasing an additional 71,757,065 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in NVIDIA by 829.0% in the 2nd 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 in the last quarter. Swedbank AB raised its stake in shares of NVIDIA by 798.8% during 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 period. Norges Bank purchased a new stake in shares of NVIDIA in the fourth quarter worth about $14,606,369,000. Finally, New York State Teachers Retirement System boosted its holdings in NVIDIA by 852.4% in the 2nd quarter. New York State Teachers Retirement System now owns 23,764,084 shares of the computer hardware maker’s stock valued at $2,935,815,000 after purchasing an additional 21,268,926 shares during the period. 65.27% of the stock is owned by institutional investors.

Insider Buying and Selling

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $128.17, for a total value of $576,765.00. Following the completion of the transaction, the insider now owns 503,878 shares in the company, valued at $64,582,043.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total value of $50,334,900.00. Following the completion of the sale, the director now directly owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $128.17, for a total value of $576,765.00. Following the transaction, the insider now directly owns 503,878 shares in the company, valued at approximately $64,582,043.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,845,633 shares of company stock valued at $465,330,122. Company insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. The Goldman Sachs Group reissued a “buy” rating and issued a $135.00 target price on shares of NVIDIA in a research note on Monday, August 19th. Melius Research raised their price objective on NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, June 21st. DZ Bank lowered NVIDIA from a “buy” rating to a “hold” rating and set a $102.50 price target on the stock. in a research report on Friday, May 24th. Craig Hallum increased their price objective on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Mizuho upped their price target on shares of NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Price Performance

NASDAQ:NVDA opened at $116.78 on Tuesday. The stock has a 50 day moving average price of $117.19 and a 200 day moving average price of $106.39. The stock has a market cap of $2.87 trillion, a PE ratio of 68.29, a P/E/G ratio of 1.06 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76.

NVIDIA (NASDAQ:NVDA) last issued its 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. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 earnings per share. Equities research analysts expect that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA declared that its board has initiated a share buyback 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 reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

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.