NVIDIA Co. (NASDAQ:NVDA) Stake Boosted by Kaizen Financial Strategies

Kaizen Financial Strategies raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 59,613 shares of the computer hardware maker’s stock after purchasing an additional 1,717 shares during the period. NVIDIA accounts for 3.7% of Kaizen Financial Strategies’ investment portfolio, making the stock its 7th largest holding. Kaizen Financial Strategies’ holdings in NVIDIA were worth $6,461,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of NVDA. Wealth Group Ltd. raised its stake in NVIDIA by 1.8% during the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker’s stock valued at $766,000 after purchasing an additional 100 shares in the last quarter. Tallon Kerry Patrick purchased a new stake in NVIDIA during the fourth quarter valued at $972,000. Capital & Planning LLC raised its stake in NVIDIA by 16.9% during the fourth quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker’s stock valued at $1,021,000 after purchasing an additional 1,099 shares in the last quarter. Ironwood Wealth Management LLC. raised its stake in NVIDIA by 1.6% during the fourth quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker’s stock valued at $871,000 after purchasing an additional 104 shares in the last quarter. Finally, Sugar Maple Asset Management LLC raised its stake in NVIDIA by 2.9% during the fourth quarter. Sugar Maple Asset Management LLC now owns 8,540 shares of the computer hardware maker’s stock valued at $1,147,000 after purchasing an additional 244 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the transaction, the director now directly owns 26,671,360 shares of the company’s stock, valued at $3,808,670,208. This trade represents a 3.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the transaction, the director now directly owns 9,214,697 shares of the company’s stock, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,560,845 shares of company stock worth $360,351,849. Corporate insiders own 4.17% of the company’s stock.

NVIDIA Stock Down 0.8%

NASDAQ:NVDA opened at $142.83 on Thursday. NVIDIA Co. has a fifty-two week low of $86.62 and a fifty-two week high of $153.13. The stock has a market capitalization of $3.49 trillion, a P/E ratio of 56.21, a P/E/G ratio of 1.76 and a beta of 2.12. 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 company’s 50-day simple moving average is $120.91 and its 200-day simple moving average is $126.34.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the prior year, the business posted $0.61 earnings per share. The firm’s quarterly revenue was up 69.2% on a year-over-year basis. On average, equities analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA’s dividend payout ratio is currently 1.29%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NVDA. UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. Summit Insights upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a research report on Thursday, May 29th. DZ Bank upgraded shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Wedbush reiterated an “outperform” rating on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Piper Sandler reiterated an “overweight” rating and set a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.