Kraft Asset Management LLC Purchases 3,036 Shares of NVIDIA Co. (NASDAQ:NVDA)

Kraft Asset Management LLC grew its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,281.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,273 shares of the computer hardware maker’s stock after buying an additional 3,036 shares during the quarter. Kraft Asset Management LLC’s holdings in NVIDIA were worth $404,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NVDA. Lowe Wealth Advisors LLC bought a new position in NVIDIA in the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. raised its stake in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 190 shares in the last quarter. FPC Investment Advisory Inc. bought a new position in NVIDIA in the first quarter worth about $26,000. CGC Financial Services LLC bought a new position in NVIDIA in the second quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA in the first quarter worth about $27,000. 65.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. KeyCorp upped their price objective on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Westpark Capital upped their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. DZ Bank cut shares of NVIDIA from a “buy” rating to a “hold” rating and set a $102.50 price objective on the stock. in a report on Friday, May 24th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $135.00 price objective on shares of NVIDIA in a report on Monday, August 19th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $142.10.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $107.44, for a total value of $12,892,800.00. Following the transaction, the chief executive officer now directly owns 76,135,836 shares in the company, valued at $8,180,034,219.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Colette Kress sold 100,000 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $126.99, for a total transaction of $12,699,000.00. Following the sale, the chief financial officer now directly owns 5,288,862 shares in the company, valued at approximately $671,632,585.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $107.44, for a total transaction of $12,892,800.00. Following the sale, the chief executive officer now owns 76,135,836 shares in the company, valued at $8,180,034,219.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,725,633 shares of company stock worth $454,719,722. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 3.5 %

NVDA opened at $106.47 on Tuesday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.76. The company has a market capitalization of $2.61 trillion, a PE ratio of 62.26, a PEG ratio of 0.93 and a beta of 1.67. The firm’s 50 day simple moving average is $118.26 and its two-hundred day simple moving average is $105.08.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period last year, the firm earned $0.25 earnings per share. The company’s quarterly revenue was up 122.4% on a year-over-year basis. As a group, equities analysts forecast that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be given a $0.01 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.04%. NVIDIA’s payout ratio is presently 2.34%.

NVIDIA announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.