Kane Investment Management Inc. Purchases Shares of 431,435 NVIDIA Co. (NASDAQ:NVDA)

Kane Investment Management Inc. acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 431,435 shares of the computer hardware maker's stock, valued at approximately $57,938,000. NVIDIA accounts for 32.4% of Kane Investment Management Inc.'s portfolio, making the stock its largest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. AGP Franklin LLC acquired a new stake in shares of NVIDIA during the fourth quarter worth $7,721,000. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in shares of NVIDIA during the fourth quarter worth $425,923,000. Canada Post Corp Registered Pension Plan acquired a new stake in NVIDIA in the 4th quarter valued at $59,880,000. Defined Financial Planning LLC bought a new stake in NVIDIA during the 4th quarter worth about $2,396,000. Finally, LaSalle St. Investment Advisors LLC lifted its position in NVIDIA by 175.5% during the 4th quarter. LaSalle St. Investment Advisors LLC now owns 57,048 shares of the computer hardware maker's stock worth $7,661,000 after buying an additional 36,341 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NVDA has been the topic of several analyst reports. Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Bank of America boosted their price target on shares of NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday. Benchmark reissued a "buy" rating and set a $190.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Stifel Nicolaus set a $180.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, HSBC cut shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target on the stock. in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $164.84.

NVIDIA Price Performance

Shares of NVIDIA stock traded up $5.41 on Wednesday, reaching $135.34. 279,277,491 shares of the stock were exchanged, compared to its average volume of 296,148,002. The firm's 50 day moving average is $110.79 and its 200-day moving average is $127.08. NVIDIA Co. has a one year low of $86.62 and a one year high of $195.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm has a market cap of $3.31 trillion, a PE ratio of 53.26, a P/E/G ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. As a group, analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Wednesday, March 12th. NVIDIA's payout ratio is 1.36%.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 66,660 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares of the company's stock, valued at $360,509,924.95. This represents a 2.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the transaction, the director now directly owns 17,279 shares of the company's stock, valued at approximately $1,900,690. The trade was a 13.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock valued at $17,133,207 in the last quarter. Insiders own 4.23% of the company's stock.

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.