Kanawha Capital Management LLC Has $5.76 Million Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Kanawha Capital Management LLC has increased its stake in NVIDIA Corporation by 62.8%, now owning 53,097 shares valued at approximately $5.76 million.
• CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock for about $11.44 million, while Director Mark A. Stevens sold 935,000 shares for $131.76 million.
• NVIDIA recently declared a quarterly dividend of $0.01 per share, resulting in an annualized yield of 0.02% as part of a low dividend payout ratio of 1.29%.

Kanawha Capital Management LLC boosted its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 62.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,097 shares of the computer hardware maker's stock after purchasing an additional 20,476 shares during the period. Kanawha Capital Management LLC's holdings in NVIDIA were worth $5,755,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVDA. Tacita Capital Inc bought a new stake in NVIDIA during the 4th quarter valued at approximately $28,000. Vision Financial Markets LLC bought a new position in NVIDIA during the fourth quarter worth $38,000. Copia Wealth Management bought a new position in NVIDIA during the fourth quarter worth $50,000. Barnes Dennig Private Wealth Management LLC acquired a new position in NVIDIA during the 1st quarter valued at $51,000. Finally, Bruce G. Allen Investments LLC boosted its holdings in NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after purchasing an additional 327 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the sale, the executive vice president owned 4,018,547 shares in the company, valued at $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, the director owned 26,671,360 shares of the company's stock, valued at $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,264,800 shares of company stock worth $786,735,503 over the last 90 days. Company insiders own 4.17% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on NVDA. Cantor Fitzgerald restated an "overweight" rating and set a $200.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. Piper Sandler reiterated an "overweight" rating and set a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Bank of America lifted their price target on shares of NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. Finally, Phillip Securities upgraded shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $182.03.

NVIDIA Stock Up 2.1%

Shares of NASDAQ:NVDA traded up $3.76 during mid-day trading on Wednesday, reaching $179.27. 170,353,567 shares of the stock were exchanged, compared to its average volume of 149,383,152. The stock's 50 day simple moving average is $153.55 and its 200-day simple moving average is $131.72. NVIDIA Corporation has a one year low of $86.62 and a one year high of $179.89. The company has a market cap of $4.37 trillion, a P/E ratio of 57.83, a P/E/G ratio of 1.55 and a beta of 2.13. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced 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 business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the company posted $0.61 EPS. The business's revenue for the quarter was up 69.2% compared to the same quarter last year. As a group, equities research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

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.