Kure Advisory LLC Makes New Investment in NVIDIA Co. (NASDAQ:NVDA)

Kure Advisory LLC purchased a new position in NVIDIA Co. (NASDAQ:NVDA - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,322 shares of the computer hardware maker's stock, valued at approximately $685,000. NVIDIA makes up about 0.5% of Kure Advisory LLC's investment portfolio, making the stock its 20th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of NVIDIA in the fourth quarter worth approximately $43,515,504,000. GAMMA Investing LLC grew its position in 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 worth $5,293,039,000 after purchasing an additional 48,439,859 shares during the period. Northern Trust Corp grew 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 valued at $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Proficio Capital Partners LLC boosted its stake in shares of NVIDIA by 14,641.2% during the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after acquiring an additional 34,441,082 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in NVIDIA in the 4th quarter worth approximately $2,987,733,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Down 2.1%

Shares of NVDA stock opened at $141.97 on Friday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.46 trillion, a P/E ratio of 55.87, a P/E/G ratio of 1.76 and a beta of 2.12. The stock has a 50 day moving average of $122.77 and a 200 day moving average of $126.44. NVIDIA Co. has a twelve month low of $86.62 and a twelve month high of $153.13.

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 analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same period in the prior year, the firm earned $0.61 EPS. The firm's revenue for the quarter was up 69.2% on a year-over-year basis. As a group, sell-side analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA's payout ratio is currently 1.29%.

Insider Buying and Selling

In related news, Director Aarti S. Shah sold 20,000 shares of NVIDIA stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the transaction, the director now owns 53,208 shares in the company, valued at $6,300,891.36. The trade was a 27.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the firm's stock in a transaction 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 sale, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,560,845 shares of company stock worth $360,351,849. Company insiders own 4.17% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on NVDA. William Blair reaffirmed an "outperform" rating on shares of NVIDIA in a research note on Thursday, March 20th. Stifel Nicolaus set a $180.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Bank of America upped their price objective on NVIDIA from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Barclays reissued an "overweight" rating and set a $170.00 price target (up previously from $155.00) on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Wedbush restated an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $172.24.

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.

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