Kitching Partners LLC Buys New Shares in NVIDIA Co. (NASDAQ:NVDA)

Kitching Partners LLC acquired a new position in NVIDIA Co. (NASDAQ:NVDA) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 4,400 shares of the computer hardware maker’s stock, valued at approximately $534,000. NVIDIA comprises approximately 0.7% of Kitching Partners LLC’s holdings, making the stock its 14th largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Boxwood Ventures Inc. acquired a new position in NVIDIA in the third quarter valued at approximately $1,464,000. Maverick Capital Ltd. increased its stake in shares of NVIDIA by 15.7% in the 3rd quarter. Maverick Capital Ltd. now owns 2,368,091 shares of the computer hardware maker’s stock valued at $287,581,000 after acquiring an additional 320,808 shares in the last quarter. Widmann Financial Services Inc. increased its stake in shares of NVIDIA by 18.7% in the 3rd quarter. Widmann Financial Services Inc. now owns 2,398 shares of the computer hardware maker’s stock valued at $291,000 after acquiring an additional 378 shares in the last quarter. Encompass More Asset Management boosted its stake in NVIDIA by 60.6% during the third quarter. Encompass More Asset Management now owns 18,102 shares of the computer hardware maker’s stock worth $2,198,000 after acquiring an additional 6,828 shares in the last quarter. Finally, NCM Capital Management LLC boosted its stake in NVIDIA by 1.1% during the third quarter. NCM Capital Management LLC now owns 141,325 shares of the computer hardware maker’s stock worth $17,162,000 after acquiring an additional 1,553 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director John Dabiri sold 716 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock valued at $146,506,958 in the last ninety days. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Benchmark restated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Tuesday, January 7th. Rosenblatt Securities reissued a “buy” rating and issued a $220.00 price objective on shares of NVIDIA in a research note on Wednesday, January 8th. Barclays upped their target price on NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Redburn Atlantic assumed coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price target for the company. Finally, Susquehanna boosted their price target on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.27.

NVIDIA Trading Down 1.1 %

Shares of NVDA opened at $131.76 on Wednesday. NVIDIA Co. has a twelve month low of $54.74 and a twelve month high of $153.13. The firm has a market capitalization of $3.23 trillion, a P/E ratio of 51.85, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is $139.68 and its 200 day simple moving average is $128.82.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter last year, the firm posted $0.38 EPS. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. On average, equities research analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders 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 dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s payout ratio is currently 1.57%.

NVIDIA Profile

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.