Kennedy Investment Group Acquires 3,357 Shares of NVIDIA Co. (NASDAQ:NVDA)

Kennedy Investment Group raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 80.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,532 shares of the computer hardware maker’s stock after acquiring an additional 3,357 shares during the quarter. NVIDIA makes up approximately 2.1% of Kennedy Investment Group’s holdings, making the stock its 13th biggest position. Kennedy Investment Group’s holdings in NVIDIA were worth $3,730,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Moody Lynn & Lieberson LLC grew its stake in shares of NVIDIA by 7.2% during the 3rd quarter. Moody Lynn & Lieberson LLC now owns 89,053 shares of the computer hardware maker’s stock worth $38,737,000 after acquiring an additional 5,998 shares in the last quarter. TrueMark Investments LLC acquired a new stake in shares of NVIDIA in the 4th quarter valued at approximately $2,639,000. McLean Asset Management Corp boosted its holdings in shares of NVIDIA by 11.7% in the 4th quarter. McLean Asset Management Corp now owns 1,773 shares of the computer hardware maker’s stock valued at $871,000 after buying an additional 186 shares during the last quarter. Shilanski & Associates Inc. boosted its holdings in shares of NVIDIA by 15.9% in the 4th quarter. Shilanski & Associates Inc. now owns 2,983 shares of the computer hardware maker’s stock valued at $1,477,000 after buying an additional 410 shares during the last quarter. Finally, WealthPLAN Partners LLC boosted its holdings in shares of NVIDIA by 14.3% in the 4th quarter. WealthPLAN Partners LLC now owns 7,938 shares of the computer hardware maker’s stock valued at $3,931,000 after buying an additional 996 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Performance

NVIDIA stock opened at $762.00 on Friday. NVIDIA Co. has a 12-month low of $262.25 and a 12-month high of $974.00. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The business’s 50-day moving average price is $844.71 and its two-hundred day moving average price is $622.23. The stock has a market cap of $1.91 trillion, a PE ratio of 63.82, a P/E/G ratio of 1.22 and a beta of 1.73.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The firm had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter in the previous year, the business posted $0.65 earnings per share. The business’s revenue for the quarter was up 265.3% on a year-over-year basis. As a group, analysts expect that NVIDIA Co. will post 22.45 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s dividend payout ratio is presently 1.34%.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several recent analyst reports. Oppenheimer increased their price objective on NVIDIA from $850.00 to $1,100.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. HSBC increased their price objective on NVIDIA from $880.00 to $1,050.00 and gave the company a “buy” rating in a report on Monday, March 18th. Truist Financial raised their price target on NVIDIA from $911.00 to $1,177.00 and gave the company a “buy” rating in a report on Monday, March 18th. Sanford C. Bernstein raised their price target on NVIDIA from $700.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Finally, Raymond James raised their price target on NVIDIA from $850.00 to $1,100.00 and gave the company a “strong-buy” rating in a report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $940.30.

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the sale, the director now directly owns 2,055 shares of the company’s stock, valued at $1,931,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the sale, the director now directly owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the sale, the director now directly owns 2,055 shares in the company, valued at $1,931,700. The disclosure for this sale can be found here. Insiders have sold a total of 61,278 shares of company stock worth $52,689,898 over the last 90 days. Insiders own 3.99% of the company’s stock.

About NVIDIA

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.