Kane Investment Management Inc. Acquires New Holdings in NVIDIA Co. (NASDAQ:NVDA)

Kane Investment Management Inc. bought a new stake in NVIDIA Co. (NASDAQ:NVDA) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 431,435 shares of the computer hardware maker’s stock, valued at approximately $57,938,000. NVIDIA comprises approximately 32.4% of Kane Investment Management Inc.’s portfolio, making the stock its biggest holding.

Other institutional investors also recently bought and sold shares of the company. AGP Franklin LLC acquired a new position in shares of NVIDIA during the fourth quarter worth about $7,721,000. Aware Super Pty Ltd as trustee of Aware Super acquired a new position in shares of NVIDIA during the fourth quarter worth about $425,923,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of NVIDIA during the fourth quarter worth about $59,880,000. Defined Financial Planning LLC acquired a new position in shares of NVIDIA during the fourth quarter worth about $2,396,000. Finally, LaSalle St. Investment Advisors LLC grew its position in shares of NVIDIA by 175.5% during the fourth 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 owned by institutional investors and hedge funds.

NVIDIA Price Performance

NVIDIA stock opened at $129.93 on Wednesday. NVIDIA Co. has a 12 month low of $86.62 and a 12 month high of $195.95. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The business has a 50 day simple moving average of $110.79 and a 200-day simple moving average of $127.08. The stock has a market capitalization of $3.18 trillion, a PE ratio of 51.13, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. Equities analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NVDA shares. Summit Insights downgraded NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. Benchmark reaffirmed a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Wedbush reaffirmed an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. Finally, TD Cowen lowered their price target on NVIDIA from $175.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $164.84.

Insiders Place Their Bets

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares in the company, valued at approximately $1,900,690. This represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the transaction, the insider now owns 479,428 shares of the company’s stock, valued at $55,997,190.40. The trade was a 0.93% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is owned by corporate insiders.

NVIDIA Company 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.