NVIDIA Co. (NASDAQ:NVDA) Stock Position Raised by Kingfisher Capital LLC

Kingfisher Capital LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 896.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 152,945 shares of the computer hardware maker’s stock after purchasing an additional 137,593 shares during the quarter. NVIDIA accounts for about 4.4% of Kingfisher Capital LLC’s holdings, making the stock its biggest position. Kingfisher Capital LLC’s holdings in NVIDIA were worth $18,895,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA during the 1st quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA during the 1st quarter worth approximately $27,000. HBC Financial Services PLLC purchased a new stake in shares of NVIDIA during the 1st quarter worth approximately $30,000. Norwood Financial Corp purchased a new stake in shares of NVIDIA during the 1st quarter worth approximately $45,000. Finally, Coston McIsaac & Partners boosted its stake in shares of NVIDIA by 231.3% during the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after acquiring an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the topic of several research analyst reports. Piper Sandler reissued an “overweight” rating and set a $140.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Mizuho upped their target price on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Evercore ISI upped their target price on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Wells Fargo & Company upped their target price on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Sanford C. Bernstein upped their target price on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the 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 transaction, the chief executive officer now owns 77,334,995 shares of the company’s stock, valued at approximately $8,741,947,834.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Jen Hsun Huang sold 120,000 shares of the 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 sale, the chief executive officer now owns 77,334,995 shares in the company, valued at $8,741,947,834.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,636,270 shares of company stock valued at $305,367,927. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $140.52 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The firm has a 50-day moving average of $124.46 and a two-hundred day moving average of $114.81. The stock has a market cap of $3.45 trillion, a P/E ratio of 65.91, a PEG ratio of 1.50 and a beta of 1.67. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $144.42.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter last year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. On average, research analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its board has authorized a stock repurchase program 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 stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

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.