Kennedy Investment Group Raises Holdings in NVIDIA Co. (NASDAQ:NVDA)

Kennedy Investment Group grew its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 80.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,532 shares of the computer hardware maker’s stock after buying an additional 3,357 shares during the period. NVIDIA accounts for 2.1% of Kennedy Investment Group’s investment portfolio, making the stock its 13th largest position. Kennedy Investment Group’s holdings in NVIDIA were worth $3,730,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in NVDA. LFA Lugano Financial Advisors SA purchased a new position in shares of NVIDIA during the 4th quarter valued at $28,000. Peoples Financial Services CORP. purchased a new stake in NVIDIA during the 3rd quarter worth about $30,000. Your Advocates Ltd. LLP purchased a new stake in NVIDIA during the 3rd quarter worth about $30,000. Quarry LP purchased a new stake in NVIDIA during the 1st quarter worth about $34,000. Finally, Compass Wealth Management LLC purchased a new stake in NVIDIA during the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $762.00 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67. The business’s 50 day simple moving average is $844.71 and its two-hundred day simple moving average is $622.23. The stock has a market capitalization of $1.91 trillion, a P/E ratio of 63.82, a price-to-earnings-growth ratio of 1.22 and a beta of 1.73. NVIDIA Co. has a one year low of $262.25 and a one year high of $974.00.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. The firm had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business’s quarterly revenue was up 265.3% compared to the same quarter last year. During the same period last year, the company earned $0.65 EPS. Analysts forecast that NVIDIA Co. will post 22.45 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were given a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA’s dividend payout ratio is currently 1.34%.

Insider Transactions at NVIDIA

In other news, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the sale, the director now directly owns 2,055 shares in the company, valued at approximately $1,931,700. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the sale, the director now directly owns 2,055 shares in the company, valued at $1,931,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $879.97, for a total value of $19,975,319.00. Following the sale, the director now owns 1,052,133 shares in the company, valued at $925,845,476.01. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,278 shares of company stock worth $52,689,898. 3.99% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Craig Hallum increased their price objective on NVIDIA from $700.00 to $850.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Stifel Nicolaus restated a “buy” rating and issued a $910.00 target price on shares of NVIDIA in a research note on Wednesday, March 20th. Mizuho upped their target price on NVIDIA from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. JPMorgan Chase & Co. upped their target price on NVIDIA from $650.00 to $850.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Finally, Evercore ISI began coverage on NVIDIA in a research note on Tuesday. They issued an “outperform” rating and a $1,160.00 target price on the stock. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $940.30.

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.