KRS Capital Management LLC Trims Stake in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jun 23rd, 2023

KRS Capital Management LLC cut its stake in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,713 shares of the computer hardware maker’s stock after selling 90 shares during the period. NVIDIA accounts for 7.7% of KRS Capital Management LLC’s investment portfolio, making the stock its 2nd largest holding. KRS Capital Management LLC’s holdings in NVIDIA were worth $6,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. GoalVest Advisory LLC lifted its stake in NVIDIA by 124.1% in the fourth quarter. GoalVest Advisory LLC now owns 195 shares of the computer hardware maker’s stock valued at $28,000 after buying an additional 108 shares during the period. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in NVIDIA in the fourth quarter valued at approximately $34,000. Financial Connections Group Inc. lifted its stake in NVIDIA by 605.7% in the fourth quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock valued at $36,000 after buying an additional 212 shares during the period. NewSquare Capital LLC acquired a new position in shares of NVIDIA during the fourth quarter worth approximately $37,000. Finally, Chelsea Counsel Co. bought a new position in shares of NVIDIA in the 4th quarter worth $37,000. 64.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on NVDA shares. JPMorgan Chase & Co. increased their target price on NVIDIA from $250.00 to $500.00 in a report on Thursday, May 25th. Raymond James reiterated a “strong-buy” rating and issued a $290.00 target price on shares of NVIDIA in a report on Thursday, March 2nd. Rosenblatt Securities reiterated a “buy” rating and issued a $320.00 target price on shares of NVIDIA in a report on Wednesday, March 22nd. HSBC upgraded NVIDIA from a “reduce” rating to a “buy” rating and increased their target price for the stock from $175.00 to $355.00 in a report on Tuesday, April 18th. Finally, Needham & Company LLC increased their target price on NVIDIA from $300.00 to $460.00 in a report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $383.19.

Insider Activity

In other news, CFO Colette Kress sold 6,124 shares of NVIDIA stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $406.51, for a total transaction of $2,489,467.24. Following the completion of the sale, the chief financial officer now owns 538,745 shares in the company, valued at approximately $219,005,229.95. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Tench Coxe sold 100,000 shares of NVIDIA stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $379.00, for a total transaction of $37,900,000.00. Following the completion of the sale, the director now owns 3,397,136 shares in the company, valued at approximately $1,287,514,544. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Colette Kress sold 6,124 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $406.51, for a total value of $2,489,467.24. Following the completion of the sale, the chief financial officer now owns 538,745 shares of the company’s stock, valued at approximately $219,005,229.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 372,988 shares of company stock worth $148,368,561. 3.99% of the stock is currently owned by insiders.

NVIDIA Stock Down 0.0 %

NVDA stock opened at $430.25 on Friday. The company has a quick ratio of 2.79, a current ratio of 3.43 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $1.06 trillion, a PE ratio of 224.09, a PEG ratio of 2.95 and a beta of 1.75. NVIDIA Co. has a twelve month low of $108.13 and a twelve month high of $439.90. The stock has a 50-day simple moving average of $334.82 and a two-hundred day simple moving average of $252.39.

NVIDIA (NASDAQ:NVDA – Get Rating) last posted its earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.17. The business had revenue of $7.19 billion during the quarter, compared to analyst estimates of $6.52 billion. NVIDIA had a return on equity of 23.63% and a net margin of 18.52%. The company’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.18 EPS. On average, equities analysts predict that NVIDIA Co. will post 6.29 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 8th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is presently 8.33%.

About NVIDIA

(Get Rating)

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.