KCS Wealth Advisory trimmed its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 19.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,222 shares of the computer hardware maker’s stock after selling 545 shares during the period. KCS Wealth Advisory’s holdings in NVIDIA were worth $940,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the stock. Contravisory Investment Management Inc. purchased a new stake in NVIDIA during the first quarter valued at approximately $28,000. Nordwand Advisors LLC purchased a new stake in NVIDIA during the first quarter valued at approximately $28,000. Quarry LP purchased a new stake in NVIDIA during the first quarter valued at approximately $34,000. Financial Connections Group Inc. increased its holdings in NVIDIA by 605.7% during 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 last quarter. Finally, Chelsea Counsel Co. purchased a new stake in NVIDIA during the fourth quarter valued at approximately $37,000. 64.79% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
NVDA has been the subject of a number of research reports. TD Cowen upped their target price on shares of NVIDIA from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, August 24th. KeyCorp upped their target price on shares of NVIDIA from $550.00 to $620.00 and gave the company an “overweight” rating in a report on Monday, August 21st. Mizuho upped their target price on shares of NVIDIA from $530.00 to $590.00 and gave the company a “buy” rating in a report on Thursday, August 24th. HSBC upped their price target on shares of NVIDIA from $600.00 to $780.00 and gave the stock a “buy” rating in a research report on Monday, August 21st. Finally, Wedbush upped their price target on shares of NVIDIA from $490.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $555.70.
Insider Activity
In other news, Director Mark A. Stevens sold 21,500 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $468.08, for a total value of $10,063,720.00. Following the sale, the director now owns 1,030,786 shares of the company’s stock, valued at $482,490,310.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Mark A. Stevens sold 21,500 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $468.08, for a total value of $10,063,720.00. Following the transaction, the director now owns 1,030,786 shares of the company’s stock, valued at approximately $482,490,310.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Colette Kress sold 4,980 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $460.74, for a total transaction of $2,294,485.20. Following the completion of the transaction, the chief financial officer now directly owns 499,428 shares in the company, valued at approximately $230,106,456.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,232 shares of company stock valued at $67,606,089. 3.99% of the stock is currently owned by company insiders.
NVIDIA Trading Up 1.0 %
Shares of NVDA opened at $434.99 on Friday. NVIDIA Co. has a twelve month low of $108.13 and a twelve month high of $502.66. The company has a market cap of $1.07 trillion, a P/E ratio of 105.07, a P/E/G ratio of 3.37 and a beta of 1.74. The company has a current ratio of 2.79, a quick ratio of 2.37 and a debt-to-equity ratio of 0.31. The company’s fifty day simple moving average is $450.19 and its 200-day simple moving average is $379.28.
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.62. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The business had revenue of $13.51 billion for the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter in the prior year, the firm posted $0.32 earnings per share. The business’s revenue for the quarter was up 101.5% on a year-over-year basis. As a group, analysts expect that NVIDIA Co. will post 9.46 EPS for the current year.
NVIDIA Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 7th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.04%. The ex-dividend date was Wednesday, September 6th. NVIDIA’s dividend payout ratio is currently 3.86%.
NVIDIA Profile
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.
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