Krane Funds Advisors LLC Purchases 9,527 Shares of NVIDIA Co. (NASDAQ:NVDA)

Krane Funds Advisors LLC lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 63.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,557 shares of the computer hardware maker’s stock after buying an additional 9,527 shares during the quarter. NVIDIA comprises 0.1% of Krane Funds Advisors LLC’s holdings, making the stock its 21st biggest position. Krane Funds Advisors LLC’s holdings in NVIDIA were worth $2,982,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Hamilton Wealth LLC raised its position in NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after purchasing an additional 9 shares during the last quarter. Poehling Capital Management INC. raised its holdings in NVIDIA by 0.9% in the 1st quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock valued at $1,442,000 after buying an additional 14 shares during the last quarter. FSA Wealth Management LLC boosted its position in NVIDIA by 3.0% during the 1st quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock worth $439,000 after buying an additional 14 shares during the period. Clean Yield Group boosted its position in NVIDIA by 0.8% during the 1st quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker’s stock worth $1,622,000 after buying an additional 15 shares during the period. Finally, Earnest Partners LLC grew its holdings in NVIDIA by 1.5% during the 1st quarter. Earnest Partners LLC now owns 1,133 shares of the computer hardware maker’s stock worth $1,024,000 after acquiring an additional 17 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This trade represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,036,986 shares of company stock valued at $240,602,399. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 1.2 %

Shares of NASDAQ:NVDA opened at $135.34 on Friday. The business’s 50 day moving average is $135.61 and its 200 day moving average is $123.34. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $152.89. The stock has a market cap of $3.31 trillion, a price-to-earnings ratio of 53.28, a PEG ratio of 2.46 and a beta of 1.66. 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 (NASDAQ:NVDA) last issued its quarterly earnings data 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. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same period last year, the business earned $0.38 EPS. The business’s revenue was up 93.6% on a year-over-year basis. On average, sell-side analysts forecast that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA declared that its board has authorized a stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued 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%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NVDA shares. Wedbush raised their price target on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 target price on shares of NVIDIA in a research report on Monday, November 18th. Wells Fargo & Company lifted their target price on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Raymond James increased their price target on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 14th. Finally, Melius Research lifted their price objective on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. 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 stock. According to data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $164.15.

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.