Kings Path Partners LLC Increases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Kings Path Partners LLC boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 1,000.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,000 shares of the computer hardware maker’s stock after purchasing an additional 10,000 shares during the quarter. Kings Path Partners LLC’s holdings in NVIDIA were worth $1,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Tacita Capital Inc bought a new position in NVIDIA during the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC bought a new position in NVIDIA during the fourth quarter valued at approximately $38,000. Luken Investment Analytics LLC bought a new position in NVIDIA during the fourth quarter valued at approximately $40,000. Copia Wealth Management bought a new position in NVIDIA during the fourth quarter valued at approximately $50,000. Finally, LSV Asset Management bought a new position in NVIDIA during the fourth quarter valued at approximately $54,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NVDA shares. Benchmark reiterated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research report on Thursday, May 29th. Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Rosenblatt Securities raised their target price on shares of NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Tigress Financial restated a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. Finally, Mizuho raised their target price on shares of NVIDIA from $168.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.66.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $142.63 on Tuesday. NVIDIA Co. has a fifty-two week low of $86.62 and a fifty-two week high of $195.95. The business has a 50-day simple moving average of $119.10 and a two-hundred day simple moving average of $126.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm has a market cap of $3.48 trillion, a price-to-earnings ratio of 56.13, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. During the same period last year, the firm posted $0.61 EPS. NVIDIA’s quarterly revenue was up 69.2% compared to the same quarter last year. On average, analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.29%.

Insider Buying and Selling at NVIDIA

In related news, Director Robert K. Burgess sold 53,324 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the transaction, the director now directly owns 251,044 shares in the company, valued at approximately $28,993,071.56. The trade was a 17.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 935,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director now owns 9,214,697 shares of the company’s stock, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,255,320 shares of company stock worth $172,680,419 in the last three months. 4.17% of the stock is currently owned by company insiders.

NVIDIA Company 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.