Kovack Advisors Inc. Increases Holdings in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Oct 11th, 2023

Kovack Advisors Inc. raised its position in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 37.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 28,075 shares of the computer hardware maker’s stock after buying an additional 7,700 shares during the period. NVIDIA comprises approximately 1.5% of Kovack Advisors Inc.’s holdings, making the stock its 8th largest holding. Kovack Advisors Inc.’s holdings in NVIDIA were worth $11,876,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of NVDA. Contravisory Investment Management Inc. acquired a new position in shares of NVIDIA in the 1st quarter valued at $28,000. Nordwand Advisors LLC acquired a new position in shares of NVIDIA in the 1st quarter valued at $28,000. Graham Capital Wealth Management LLC acquired a new position in shares of NVIDIA in the 1st quarter valued at $311,102,000. Quarry LP acquired a new position in shares of NVIDIA in the 1st quarter valued at $34,000. Finally, 25 LLC acquired a new position in shares of NVIDIA in the 1st quarter valued at $46,000. 64.79% of the stock is currently owned by institutional investors.

NVIDIA Trading Up 1.2 %

NVIDIA stock opened at $457.98 on Wednesday. NVIDIA Co. has a 52 week low of $108.13 and a 52 week high of $502.66. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.37 and a current ratio of 2.79. The stock has a market capitalization of $1.13 trillion, a P/E ratio of 110.62, a PEG ratio of 3.55 and a beta of 1.76. The stock has a 50-day simple moving average of $448.64 and a 200 day simple moving average of $389.41.

NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its quarterly earnings data on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.62. The firm had revenue of $13.51 billion during the quarter, compared to the consensus estimate of $11.19 billion. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The business’s revenue for the quarter was up 101.5% compared to the same quarter last year. During the same period last year, the business posted $0.32 earnings per share. Analysts expect that NVIDIA Co. will post 9.54 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th were given a dividend of $0.04 per share. The ex-dividend date was Wednesday, September 6th. This represents a $0.16 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 3.86%.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 4,980 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $460.74, for a total transaction of $2,294,485.20. Following the completion of the sale, the chief financial officer now directly owns 499,428 shares in the company, valued at $230,106,456.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Colette Kress sold 4,980 shares of NVIDIA stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $460.74, for a total value of $2,294,485.20. Following the completion of the sale, the chief financial officer now directly owns 499,428 shares in the company, valued at $230,106,456.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 21,500 shares of NVIDIA stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the completion of the sale, the director now owns 1,030,786 shares of the company’s stock, valued at $482,490,310.88. The disclosure for this sale can be found here. Insiders sold 145,232 shares of company stock worth $67,606,089 over the last three months. Insiders own 3.99% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on NVDA shares. Barclays raised their price objective on NVIDIA from $600.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, August 24th. Robert W. Baird raised their price objective on NVIDIA from $570.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, August 24th. StockNews.com started coverage on NVIDIA in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Craig Hallum raised their price objective on NVIDIA from $500.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. Finally, Raymond James raised their price objective on NVIDIA from $500.00 to $600.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $558.95.

Check Out Our Latest Research Report on NVIDIA

About NVIDIA

(Free Report)

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.