NVIDIA Corporation (NASDAQ:NVDA) Shares Purchased by Klingenstein Fields & Co. LP

Key Points

• Klingenstein Fields & Co. LP increased its stake in NVIDIA Corporation by 2.9% in the first quarter, owning 429,068 shares valued at approximately $46.5 million.
• Insider activities include CEO Jen Hsun Huang selling 75,000 shares for about $11.44 million and Director Tench Coxe selling 1,000,000 shares for roughly $142.8 million.
• Analysts have an average rating of "Moderate Buy" on NVIDIA shares, with a price target averaging $181.22, reflecting positive sentiment despite varied ratings from different firms.

Klingenstein Fields & Co. LP increased its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 429,068 shares of the computer hardware maker's stock after purchasing an additional 12,238 shares during the quarter. NVIDIA accounts for 2.0% of Klingenstein Fields & Co. LP's holdings, 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.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of NVIDIA in the fourth quarter valued at approximately $43,515,504,000. GAMMA Investing LLC increased its holdings in shares of NVIDIA by 12,173.2% in the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock valued at $5,293,039,000 after acquiring an additional 48,439,859 shares during the period. Northern Trust Corp lifted its stake in shares of NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the last quarter. Proficio Capital Partners LLC boosted its position in NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in NVIDIA by 204.6% in the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock valued at $3,864,026,000 after purchasing an additional 23,948,733 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the sale, the chief executive officer directly owned 75,548,225 shares of the company's stock, valued at approximately $11,524,126,241.50. The trade was a 0.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the transaction, the director owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,264,800 shares of company stock valued at $786,735,503. Corporate insiders own 4.17% of the company's stock.

NVIDIA Trading Up 2.1%

NASDAQ NVDA traded up $3.76 during trading hours on Wednesday, reaching $179.27. The company had a trading volume of 170,353,567 shares, compared to its average volume of 149,383,152. The stock has a market capitalization of $4.37 trillion, a P/E ratio of 57.83, a price-to-earnings-growth ratio of 1.55 and a beta of 2.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $179.89. The stock has a 50-day moving average of $153.55 and a 200 day moving average of $131.72.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS 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 company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period in the previous year, the firm earned $0.61 earnings per share. The company's revenue for the quarter was up 69.2% compared to the same quarter last year. As a group, research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Mizuho set a $192.00 price objective on shares of NVIDIA and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Barclays boosted their target price on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. Raymond James Financial increased their price target on NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research note on Thursday, May 29th. Phillip Securities upgraded shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 14th. Finally, Rosenblatt Securities lifted their target price on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA currently has a consensus rating of "Moderate Buy" and an average target price of $182.03.

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.