Key Financial Inc Acquires 400 Shares of NVIDIA Co. (NASDAQ:NVDA)

Key Financial Inc grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,310 shares of the computer hardware maker’s stock after buying an additional 400 shares during the quarter. NVIDIA accounts for about 0.8% of Key Financial Inc’s investment portfolio, making the stock its 27th biggest position. Key Financial Inc’s holdings in NVIDIA were worth $3,802,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Lantz Financial LLC grew its stake in NVIDIA by 833.1% in the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock worth $5,088,000 after purchasing an additional 36,774 shares in the last quarter. Simplicity Wealth LLC grew its stake in NVIDIA by 849.7% in the second quarter. Simplicity Wealth LLC now owns 679,698 shares of the computer hardware maker’s stock worth $83,970,000 after purchasing an additional 608,125 shares in the last quarter. Gill Capital Partners LLC grew its stake in NVIDIA by 948.8% in the second quarter. Gill Capital Partners LLC now owns 18,061 shares of the computer hardware maker’s stock worth $2,231,000 after purchasing an additional 16,339 shares in the last quarter. Founders Capital Management grew its stake in NVIDIA by 1,226.9% in the second quarter. Founders Capital Management now owns 690 shares of the computer hardware maker’s stock worth $85,000 after purchasing an additional 638 shares in the last quarter. Finally, Selective Wealth Management Inc. grew its stake in NVIDIA by 974.3% in the second quarter. Selective Wealth Management Inc. now owns 9,604 shares of the computer hardware maker’s stock worth $1,262,000 after purchasing an additional 8,710 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Barclays increased their price objective on NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Benchmark upped their target price on NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Robert W. Baird upped their target price on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. HSBC upped their target price on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Wedbush upped their target price on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.15.

Insider Activity

In related news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the transaction, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the transaction, the insider now directly owns 480,899 shares in the company, valued at $65,056,016.72. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,628,156 shares of company stock worth $197,995,077 in the last ninety days. Company insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA opened at $134.25 on Monday. The business’s 50-day moving average is $139.76 and its two-hundred day moving average is $126.77. The company has a market capitalization of $3.29 trillion, a P/E ratio of 52.85, a P/E/G ratio of 2.52 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same period last year, the firm earned $0.38 EPS. The company’s quarterly revenue was up 93.6% on a year-over-year basis. Research analysts predict that NVIDIA Co. will post 2.76 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

NVIDIA declared that its Board of Directors has authorized 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 repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is 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.