Kendall Capital Management Buys 1,920 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Kendall Capital Management grew its stake in NVIDIA Corporation (NASDAQ:NVDA) by 14.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,770 shares of the computer hardware maker’s stock after acquiring an additional 1,920 shares during the quarter. Kendall Capital Management’s holdings in NVIDIA were worth $1,601,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other NVIDIA news, Director A Brooke Seawell sold 48,792 shares of the company’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the completion of the sale, the director directly owned 1,729,478 shares in the company, valued at $283,565,212.88. This represents a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Colette Kress sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $170.88, for a total value of $3,417,600.00. Following the sale, the chief financial officer directly owned 163,060 shares of the company’s stock, valued at approximately $27,863,692.80. This trade represents a 10.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,114,800 shares of company stock valued at $760,553,003 over the last quarter. 4.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Bank of America raised their price target on shares of NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. Morgan Stanley reissued an “overweight” rating and issued a $170.00 price objective (up previously from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Rosenblatt Securities increased their price objective on NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Citigroup increased their price objective on NVIDIA from $180.00 to $190.00 and gave the company a “buy” rating in a report on Monday, July 7th. Finally, Barclays raised their price target on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $181.22.

NVIDIA Trading Up 2.2%

Shares of NVDA opened at $170.78 on Thursday. The business has a 50-day moving average of $149.41 and a 200 day moving average of $130.53. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $174.25. The firm has a market cap of $4.17 trillion, a P/E ratio of 55.09, a price-to-earnings-growth ratio of 1.47 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39.

NVIDIA (NASDAQ:NVDA) last released 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the previous year, the company posted $0.61 EPS. The company’s revenue for the quarter was up 69.2% compared to the same quarter last year. As a group, research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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