KKM Financial LLC Cuts Position in NVIDIA Co. (NASDAQ:NVDA)

KKM Financial LLC lowered its stake in NVIDIA Co. (NASDAQ:NVDA) by 14.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,200 shares of the computer hardware maker’s stock after selling 6,050 shares during the quarter. NVIDIA accounts for approximately 2.1% of KKM Financial LLC’s portfolio, making the stock its 6th largest position. KKM Financial LLC’s holdings in NVIDIA were worth $4,275,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Hoertkorn Richard Charles boosted its stake in NVIDIA by 2.0% in the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after acquiring an additional 70 shares during the last quarter. Smart Portfolios LLC raised its holdings in shares of NVIDIA by 2.7% in the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after purchasing an additional 75 shares during the period. Palisade Asset Management LLC lifted its stake in NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after purchasing an additional 75 shares during the last quarter. Total Wealth Planning LLC increased its position in NVIDIA by 3.6% in the third quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after buying an additional 78 shares during the last quarter. Finally, Boyd Watterson Asset Management LLC OH raised its stake in shares of NVIDIA by 0.3% in the third quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock valued at $3,653,000 after buying an additional 80 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Down 0.0 %

NVDA stock opened at $140.11 on Friday. The firm’s 50-day moving average is $139.89 and its two-hundred day moving average is $128.54. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 55.14, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a 52 week low of $51.69 and a 52 week high of $153.13.

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

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is 1.57%.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,108,348 shares of company stock valued at $146,506,958. Insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on NVDA. Wells Fargo & Company increased their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. UBS Group boosted their target price on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Barclays increased their target price on NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Finally, Phillip Securities reissued an “accumulate” rating and set a $160.00 price objective (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Four equities research 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. According to MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $164.63.

NVIDIA Profile

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.