NVIDIA Corporation (NASDAQ:NVDA) Shares Bought by Kraft Davis & Associates LLC

Kraft Davis & Associates LLC increased its stake in NVIDIA Corporation (NASDAQ:NVDA) by 25.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,684 shares of the computer hardware maker’s stock after purchasing an additional 6,996 shares during the period. NVIDIA accounts for about 1.2% of Kraft Davis & Associates LLC’s portfolio, making the stock its 27th largest position. Kraft Davis & Associates LLC’s holdings in NVIDIA were worth $3,759,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of NVDA. Tacita Capital Inc acquired a new stake in NVIDIA during the 4th quarter valued at approximately $28,000. Vision Financial Markets LLC acquired a new stake in NVIDIA during the 4th quarter valued at approximately $38,000. Copia Wealth Management acquired a new stake in NVIDIA during the 4th quarter valued at approximately $50,000. LSV Asset Management acquired a new stake in NVIDIA during the 4th quarter valued at approximately $54,000. Finally, Bruce G. Allen Investments LLC lifted its stake in NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after acquiring an additional 327 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Ajay K. Puri sold 168,195 shares of the business’s stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the transaction, the executive vice president owned 4,018,547 shares of the company’s stock, valued at approximately $613,391,014.08. The trade was a 4.02% 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 dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the transaction, the director directly owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,964,800 shares of company stock worth $734,906,003. 4.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NVDA. Jefferies Financial Group lifted their price objective on shares of NVIDIA from $185.00 to $200.00 in a research note on Wednesday. Benchmark reiterated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. Bank of America boosted their target price on shares of NVIDIA from $180.00 to $220.00 in a research note on Wednesday. Piper Sandler reiterated an “overweight” rating and issued a $180.00 target price (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 target price on shares of NVIDIA in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.22.

NVIDIA Price Performance

NVIDIA stock opened at $172.41 on Friday. The company has a fifty day simple moving average of $146.99 and a 200-day simple moving average of $129.90. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $4.21 trillion, a price-to-earnings ratio of 55.62, a PEG ratio of 1.52 and a beta of 2.13. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $174.25.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company’s revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 EPS. On average, equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. NVIDIA’s payout ratio is 1.29%.

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.