Kure Advisory LLC Has $792,000 Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Kure Advisory LLC increased its position in NVIDIA Co. (NASDAQ:NVDA) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,518 shares of the computer hardware maker’s stock after purchasing an additional 88 shares during the period. NVIDIA makes up 0.7% of Kure Advisory LLC’s investment portfolio, making the stock its 19th largest holding. Kure Advisory LLC’s holdings in NVIDIA were worth $792,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. New England Research & Management Inc. bought a new position in NVIDIA during the third quarter valued at about $681,000. Bank of New Hampshire grew its position in shares of NVIDIA by 3.5% in the third quarter. Bank of New Hampshire now owns 52,484 shares of the computer hardware maker’s stock valued at $6,374,000 after purchasing an additional 1,759 shares in the last quarter. Hurlow Wealth Management Group Inc. increased its position in shares of NVIDIA by 8.9% during the third quarter. Hurlow Wealth Management Group Inc. now owns 2,848 shares of the computer hardware maker’s stock valued at $346,000 after buying an additional 232 shares during the period. IMZ Advisory Inc lifted its stake in NVIDIA by 1.6% in the 3rd quarter. IMZ Advisory Inc now owns 18,542 shares of the computer hardware maker’s stock worth $2,316,000 after purchasing an additional 294 shares in the last quarter. Finally, Cypress Financial Planning LLC raised its position in shares of NVIDIA by 5.9% in the third quarter. Cypress Financial Planning LLC now owns 2,570 shares of the computer hardware maker’s stock worth $312,000 after buying an additional 144 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by company insiders.

NVIDIA Price Performance

NASDAQ:NVDA opened at $148.88 on Friday. The company has a 50 day moving average price of $126.08 and a 200-day moving average price of $117.25. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $148.93. The firm has a market cap of $3.65 trillion, a price-to-earnings ratio of 69.90, a price-to-earnings-growth ratio of 1.43 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) 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 return on equity of 113.50% and a net margin of 55.04%. The business’s revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. Equities research analysts forecast that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA declared that its Board of Directors has initiated a share 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 purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given 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 1.88%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NVDA. Truist Financial boosted their price objective on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Loop Capital reissued a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a report on Monday, August 26th. Morgan Stanley restated an “overweight” rating and set a $150.00 price objective on shares of NVIDIA in a research report on Thursday, October 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Tuesday, October 8th. Finally, HSBC raised their price target on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. 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. Based on data from MarketBeat.com, the stock currently has an average 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.