Kimelman & Baird LLC Has $6.25 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Kimelman & Baird LLC increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 680.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,423 shares of the computer hardware maker’s stock after buying an additional 44,834 shares during the period. Kimelman & Baird LLC’s holdings in NVIDIA were worth $6,245,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Ironwood Wealth Management LLC. boosted its holdings in NVIDIA by 896.9% in the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after acquiring an additional 5,695 shares during the last quarter. Financial Guidance Group Inc. boosted its stake in shares of NVIDIA by 900.0% in the 2nd quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock valued at $445,000 after purchasing an additional 3,240 shares during the last quarter. Guidance Point Advisors LLC grew its position in shares of NVIDIA by 430.7% during the 2nd quarter. Guidance Point Advisors LLC now owns 2,887 shares of the computer hardware maker’s stock worth $357,000 after buying an additional 2,343 shares during the period. Significant Wealth Partners LLC raised its stake in shares of NVIDIA by 409.2% during the second quarter. Significant Wealth Partners LLC now owns 6,620 shares of the computer hardware maker’s stock worth $818,000 after buying an additional 5,320 shares during the last quarter. Finally, 1834 Investment Advisors Co. lifted its holdings in NVIDIA by 709.9% in the second quarter. 1834 Investment Advisors Co. now owns 26,410 shares of the computer hardware maker’s stock valued at $3,263,000 after buying an additional 23,149 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NASDAQ NVDA opened at $137.71 on Monday. The firm has a market cap of $3.37 trillion, a price-to-earnings ratio of 54.20, a PEG ratio of 2.45 and a beta of 1.64. The company has a 50-day simple moving average of $138.99 and a two-hundred day simple moving average of $129.04. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $56.11 and a 12-month high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share 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 analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.38 EPS. On average, equities analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NVDA. JPMorgan Chase & Co. increased their price target on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Rosenblatt Securities reissued a “buy” rating and set a $220.00 price target on shares of NVIDIA in a research report on Wednesday, January 8th. DA Davidson upped their price objective on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Wedbush lifted 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. Finally, Phillip Securities restated an “accumulate” rating and issued a $160.00 price target (up from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $164.63.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is currently owned by corporate insiders.

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.