Klingenstein Fields & Co. LP Increases Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Klingenstein Fields & Co. LP increased its stake in NVIDIA Corporation (NASDAQ:NVDA) by 2.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 429,068 shares of the computer hardware maker’s stock after acquiring an additional 12,238 shares during the quarter. NVIDIA makes up about 2.0% of Klingenstein Fields & Co. LP’s portfolio, making the stock its 14th biggest holding. Klingenstein Fields & Co. LP’s holdings in NVIDIA were worth $46,502,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in NVDA. Condor Capital Management lifted its holdings in NVIDIA by 3.6% in the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker’s stock valued at $344,000 after purchasing an additional 89 shares in the last quarter. Kelly Financial Services LLC raised its position in shares of NVIDIA by 2.0% in the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker’s stock valued at $513,000 after buying an additional 94 shares during the last quarter. Foundry Financial Group Inc. raised its position in shares of NVIDIA by 2.2% in the fourth quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker’s stock valued at $589,000 after buying an additional 96 shares during the last quarter. Mendel Capital Management LLC lifted its stake in shares of NVIDIA by 0.8% during the first quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker’s stock valued at $1,287,000 after buying an additional 96 shares during the period. Finally, Wallace Hart LLC boosted its position in NVIDIA by 3.9% during the fourth quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker’s stock worth $349,000 after acquiring an additional 97 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 75,000 shares of the firm’s stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the transaction, the chief executive officer directly owned 75,548,225 shares of the company’s stock, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, the director directly owned 26,671,360 shares of the company’s stock, valued at $3,808,670,208. The trade was a 3.61% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,114,800 shares of company stock valued at $760,553,003. 4.17% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on NVDA shares. Morgan Stanley reaffirmed an “overweight” rating and set a $170.00 price objective (up previously from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Hsbc Global Res lowered NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Citigroup lifted their price objective on NVIDIA from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, July 7th. Jefferies Financial Group boosted their target price on NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. Finally, Arete Research upgraded shares of NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $181.22.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $173.50 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm has a market capitalization of $4.23 trillion, a PE ratio of 55.97, a P/E/G ratio of 1.53 and a beta of 2.13. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $174.72. The business’s fifty day moving average price is $150.95 and its two-hundred day moving average price is $130.86.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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). The firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm’s revenue was up 69.2% on a year-over-year basis. During the same period last year, the business earned $0.61 EPS. On average, research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed 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 of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. NVIDIA’s dividend payout ratio is presently 1.29%.

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.