Kimelman & Baird LLC Buys 8,386 Shares of NVIDIA Corporation $NVDA

Kimelman & Baird LLC boosted its stake in NVIDIA Corporation (NASDAQ:NVDAFree Report) by 14.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 67,759 shares of the computer hardware maker’s stock after purchasing an additional 8,386 shares during the period. Kimelman & Baird LLC’s holdings in NVIDIA were worth $12,637,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Joule Financial LLC lifted its holdings in shares of NVIDIA by 2.2% in the 3rd quarter. Joule Financial LLC now owns 2,308 shares of the computer hardware maker’s stock worth $431,000 after acquiring an additional 50 shares during the last quarter. Vision Financial Markets LLC lifted its holdings in shares of NVIDIA by 1.2% in the 3rd quarter. Vision Financial Markets LLC now owns 4,640 shares of the computer hardware maker’s stock worth $866,000 after acquiring an additional 53 shares during the last quarter. Presidio Capital Management LLC lifted its holdings in shares of NVIDIA by 0.4% in the 4th quarter. Presidio Capital Management LLC now owns 15,137 shares of the computer hardware maker’s stock worth $2,823,000 after acquiring an additional 53 shares during the last quarter. LMG Wealth Partners LLC lifted its holdings in shares of NVIDIA by 0.7% in the 4th quarter. LMG Wealth Partners LLC now owns 7,649 shares of the computer hardware maker’s stock worth $1,427,000 after acquiring an additional 53 shares during the last quarter. Finally, IMG Wealth Management Inc. lifted its holdings in shares of NVIDIA by 1.4% in the 3rd quarter. IMG Wealth Management Inc. now owns 3,820 shares of the computer hardware maker’s stock worth $713,000 after acquiring an additional 54 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 6.2%

NASDAQ:NVDA opened at $205.10 on Friday. The company has a fifty day moving average of $203.37 and a 200 day moving average of $190.55. NVIDIA Corporation has a 52 week low of $140.85 and a 52 week high of $236.54. The company has a quick ratio of 2.85, a current ratio of 3.44 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $4.96 trillion, a P/E ratio of 31.41, a P/E/G ratio of 0.49 and a beta of 2.22.

NVIDIA (NASDAQ:NVDAGet Free Report) last posted its quarterly earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.11. The company had revenue of $81.62 billion during the quarter, compared to analyst estimates of $78.42 billion. NVIDIA had a net margin of 62.97% and a return on equity of 96.94%. The firm’s revenue was up 85.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.81 EPS. On average, research analysts predict that NVIDIA Corporation will post 8.61 earnings per share for the current year.

NVIDIA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Thursday, June 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, June 4th. This is an increase from NVIDIA’s previous quarterly dividend of $0.01. NVIDIA’s payout ratio is presently 15.31%.

NVIDIA declared that its Board of Directors has initiated a share buyback plan on Wednesday, May 20th that authorizes the company to buyback $80.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Trending Headlines about NVIDIA

Here are the key news stories impacting NVIDIA this week:

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of NVIDIA from $287.00 to $307.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Craig Hallum boosted their price objective on shares of NVIDIA from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Weiss Ratings restated a “buy (b)” rating on shares of NVIDIA in a report on Friday, April 10th. Fundamental Research set a $218.00 price objective on shares of NVIDIA in a report on Thursday, February 26th. Finally, Daiwa Securities Group upped their price target on shares of NVIDIA from $215.00 to $255.00 and gave the company an “outperform” rating in a report on Friday, May 22nd. Three analysts have rated the stock with a Strong Buy rating, forty-eight have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $305.67.

View Our Latest Research Report on NVIDIA

Insider Buying and Selling at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 300,000 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $182.25, for a total transaction of $54,675,000.00. Following the transaction, the executive vice president directly owned 3,018,547 shares of the company’s stock, valued at approximately $550,130,190.75. The trade was a 9.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Aarti S. Shah sold 19,000 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $176.71, for a total transaction of $3,357,490.00. Following the transaction, the director directly owned 36,007 shares in the company, valued at approximately $6,362,796.97. The trade was a 34.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,922,461 shares of company stock worth $387,385,083. 3.94% of the stock is owned by corporate insiders.

NVIDIA Company Profile

(Free Report)

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

Further Reading

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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