NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by United Capital Management of KS Inc.

United Capital Management of KS Inc. grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 879.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 198,431 shares of the computer hardware maker’s stock after buying an additional 178,172 shares during the period. NVIDIA accounts for about 5.4% of United Capital Management of KS Inc.’s holdings, making the stock its 2nd biggest holding. United Capital Management of KS Inc.’s holdings in NVIDIA were worth $24,514,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA in the first quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA in the first quarter valued at about $27,000. HBC Financial Services PLLC purchased a new position in NVIDIA during the first quarter worth about $30,000. Norwood Financial Corp purchased a new position in NVIDIA during the first quarter worth about $45,000. Finally, Coston McIsaac & Partners boosted its stake in NVIDIA by 231.3% during the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after buying an additional 37 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Performance

Shares of NVDA opened at $121.40 on Friday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.98 trillion, a PE ratio of 70.99, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. The company’s 50 day simple moving average is $115.81 and its 200-day simple moving average is $107.87. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period last year, the firm posted $0.25 EPS. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. As a group, equities analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

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

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a $0.01 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the sale, the executive vice president now owns 3,939,350 shares in the company, valued at $512,509,435. The disclosure for this sale can be found here. Insiders have sold a total of 4,397,403 shares of company stock worth $526,762,784 in the last three months. Insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. StockNews.com lowered shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 target price on shares of NVIDIA in a research note on Monday, August 5th. Mizuho increased their target price on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Wedbush reaffirmed an “outperform” rating and set a $138.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $142.10.

About NVIDIA

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.