Kooman & Associates Buys 9,202 Shares of NVIDIA Co. (NASDAQ:NVDA)

Kooman & Associates grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 912.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,210 shares of the computer hardware maker’s stock after acquiring an additional 9,202 shares during the period. NVIDIA accounts for 0.5% of Kooman & Associates’ holdings, making the stock its 17th biggest holding. Kooman & Associates’ holdings in NVIDIA were worth $1,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Hamilton Wealth LLC lifted its position in NVIDIA by 0.3% during the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after acquiring an additional 9 shares during the last quarter. Brooklyn FI LLC raised its holdings in shares of NVIDIA by 2.5% in the first quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock worth $442,000 after buying an additional 12 shares during the last quarter. Curran Financial Partners LLC raised its holdings in shares of NVIDIA by 1.8% in the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after buying an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC raised its holdings in shares of NVIDIA by 2.6% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after buying an additional 12 shares during the last quarter. Finally, WFA Asset Management Corp raised its holdings in shares of NVIDIA by 10.1% in the first quarter. WFA Asset Management Corp now owns 153 shares of the computer hardware maker’s stock worth $138,000 after buying an additional 14 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Performance

NVDA opened at $143.59 on Wednesday. The firm has a market capitalization of $3.53 trillion, a PE ratio of 83.97, a PEG ratio of 1.25 and a beta of 1.67. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $144.42. The firm’s 50-day moving average price is $123.13 and its 200 day moving average price is $113.31. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion for 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%. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 earnings per share. As a group, sell-side analysts expect that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA declared that its Board of Directors has approved a stock repurchase program 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 repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a dividend of $0.01 per share. 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 payout ratio is presently 2.34%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $113.04, for a total transaction of $13,564,800.00. Following the completion of the transaction, the chief executive officer now owns 77,334,995 shares in the company, valued at $8,741,947,834.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,756,270 shares of company stock worth $318,992,727 in the last ninety days. 4.23% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on NVDA shares. Wells Fargo & Company raised their price target on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. UBS Group reaffirmed a “buy” rating and issued a $150.00 price target on shares of NVIDIA in a report on Tuesday, October 8th. William Blair started coverage on shares of NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Bank of America raised their price target on shares of NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, KeyCorp raised their target price on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

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.