Kornitzer Capital Management Inc. KS Acquires 226,508 Shares of NVIDIA Co. (NASDAQ:NVDA)

Kornitzer Capital Management Inc. KS grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 963.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 250,015 shares of the computer hardware maker’s stock after acquiring an additional 226,508 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in NVIDIA were worth $30,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Lowe Wealth Advisors LLC purchased a new position in NVIDIA during the second quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. raised its position in shares of NVIDIA by 1,900.0% during the 2nd 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 during the period. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA during the 1st quarter valued at $26,000. CGC Financial Services LLC bought a new position in NVIDIA in the 2nd quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA in the 1st quarter worth $27,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’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 value of $11,977,200.00. Following the completion of the sale, the chief executive officer now owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mark A. Stevens sold 40,000 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the transaction, the director now owns 8,380,117 shares in the company, valued at approximately $1,014,077,958.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $11,977,200.00. Following the completion of the sale, the chief executive officer now owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,077,403 shares of company stock valued at $486,699,184. 4.23% of the stock is currently owned by company insiders.

NVIDIA Price Performance

NVDA opened at $124.92 on Friday. The business has a fifty day moving average of $116.26 and a 200 day moving average of $109.35. The stock has a market cap of $3.07 trillion, a P/E ratio of 73.05, a PEG ratio of 1.05 and a beta of 1.67. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76.

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

NVIDIA declared that its board has approved a share repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 2.34%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NVDA shares. Westpark Capital boosted their price objective on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Robert W. Baird upped their price target on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Bank of America reiterated a “buy” rating and set a $165.00 price objective on shares of NVIDIA in a research report on Thursday, September 5th. Finally, Sanford C. Bernstein upped their target price on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.

NVIDIA Company 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.