NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Kanawha Capital Management LLC

Kanawha Capital Management LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 29.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,758 shares of the computer hardware maker’s stock after acquiring an additional 6,693 shares during the quarter. Kanawha Capital Management LLC’s holdings in NVIDIA were worth $3,614,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. KG&L Capital Management LLC lifted its position in shares of NVIDIA by 30.3% during the 3rd quarter. KG&L Capital Management LLC now owns 57,354 shares of the computer hardware maker’s stock valued at $6,965,000 after acquiring an additional 13,343 shares during the period. Forum Financial Management LP increased its stake in NVIDIA by 2.3% in the 3rd quarter. Forum Financial Management LP now owns 148,241 shares of the computer hardware maker’s stock valued at $18,002,000 after purchasing an additional 3,363 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in NVIDIA by 5.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 21,774,947 shares of the computer hardware maker’s stock worth $2,644,350,000 after purchasing an additional 1,196,291 shares during the last quarter. Blue Square Asset Management LLC boosted its position in NVIDIA by 26.7% during the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after purchasing an additional 10,136 shares in the last quarter. Finally, Lansing Street Advisors grew its holdings in NVIDIA by 52.5% in the third quarter. Lansing Street Advisors now owns 2,723 shares of the computer hardware maker’s stock valued at $331,000 after purchasing an additional 938 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NVDA has been the topic of several recent research reports. Piper Sandler boosted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. William Blair initiated coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. raised their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Truist Financial increased their target price on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, The Goldman Sachs Group boosted their price target on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average target price of $164.15.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the sale, the insider now directly owns 480,899 shares of the company’s stock, valued at $65,056,016.72. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,628,156 shares of company stock worth $197,995,077 in the last 90 days. 4.23% of the stock is owned by company insiders.

NVIDIA Price Performance

NVIDIA stock opened at $132.00 on Tuesday. The firm has a fifty day moving average of $139.84 and a 200-day moving average of $126.92. NVIDIA Co. has a 52-week low of $47.32 and a 52-week high of $152.89. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.23 trillion, a P/E ratio of 51.95, a PEG ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 EPS. As a group, analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a 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 stock buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors 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.