Kaufman Rossin Wealth LLC Purchases 5,532 Shares of NVIDIA Corporation $NVDA

Kaufman Rossin Wealth LLC increased its position in NVIDIA Corporation (NASDAQ:NVDA) by 46.0% during the third quarter, Holdings Channel.com reports. The firm owned 17,553 shares of the computer hardware maker’s stock after buying an additional 5,532 shares during the quarter. NVIDIA accounts for approximately 1.6% of Kaufman Rossin Wealth LLC’s holdings, making the stock its 13th biggest position. Kaufman Rossin Wealth LLC’s holdings in NVIDIA were worth $4,009,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Retirement Wealth Solutions LLC increased its position in shares of NVIDIA by 1.2% during the second quarter. Retirement Wealth Solutions LLC now owns 4,121 shares of the computer hardware maker’s stock worth $825,000 after acquiring an additional 47 shares in the last quarter. LightSquare Wealth Management LLC raised its holdings in shares of NVIDIA by 0.3% in the 2nd quarter. LightSquare Wealth Management LLC now owns 18,695 shares of the computer hardware maker’s stock worth $3,741,000 after acquiring an additional 49 shares during the last quarter. CWS Financial Advisors LLC lifted its position in NVIDIA by 3.1% in the 3rd quarter. CWS Financial Advisors LLC now owns 1,653 shares of the computer hardware maker’s stock valued at $377,000 after acquiring an additional 49 shares in the last quarter. Defender Capital LLC. lifted its position in NVIDIA by 0.7% in the 2nd quarter. Defender Capital LLC. now owns 7,534 shares of the computer hardware maker’s stock valued at $1,507,000 after acquiring an additional 50 shares in the last quarter. Finally, Kooman & Associates lifted its position in NVIDIA by 0.6% in the 2nd quarter. Kooman & Associates now owns 8,464 shares of the computer hardware maker’s stock valued at $1,694,000 after acquiring an additional 50 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Needham & Company LLC lowered their price objective on NVIDIA from $300.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday. DA Davidson dropped their target price on NVIDIA from $300.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday. Deutsche Bank reaffirmed a “buy” rating on shares of NVIDIA in a research report on Monday, August 31st. Evercore downgraded NVIDIA from an “outperform” rating to a “positive” rating and set a $186.00 price target for the company. in a report on Wednesday. Finally, Rothschild & Co Redburn increased their price target on NVIDIA from $300.00 to $325.00 in a research report on Thursday, August 27th. Five research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $277.89.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 622,239 shares of the company’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $231.62, for a total transaction of $144,122,997.18. Following the transaction, the director owned 2,336,531 shares of the company’s stock, valued at $541,187,310.22. This represents a 21.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 34,918 shares of the stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $219.05, for a total value of $7,648,787.90. Following the transaction, the chief financial officer owned 765,103 shares of the company’s stock, valued at $167,595,812.15. The trade was a 4.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,766,118 shares of company stock valued at $399,450,353 over the last ninety days. 3.94% of the stock is currently owned by insiders.

NVIDIA Stock Performance

Shares of NVDA stock traded down $3.34 during trading hours on Friday, hitting $162.85. 363,372,273 shares of the company were exchanged, compared to its average volume of 196,617,360. The firm has a fifty day simple moving average of $214.64 and a 200 day simple moving average of $204.12. The company has a current ratio of 4.59, a quick ratio of 3.85 and a debt-to-equity ratio of 0.14. NVIDIA Corporation has a 52-week low of $148.80 and a 52-week high of $243.37. The stock has a market capitalization of $3.92 trillion, a price-to-earnings ratio of 20.59, a P/E/G ratio of 1.28 and a beta of 2.21.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.13. NVIDIA had a net margin of 63.66% and a return on equity of 96.04%. The company had revenue of $96.22 billion for the quarter, compared to analysts’ expectations of $92.27 billion. During the same quarter in the previous year, the firm posted $1.05 EPS. NVIDIA’s revenue was up 105.9% on a year-over-year basis. Research analysts predict that NVIDIA Corporation will post 9.29 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, September 10th. NVIDIA’s dividend payout ratio (DPR) is currently 12.64%.

NVIDIA announced that its Board of Directors has initiated a share buyback plan on Monday, September 28th that permits the company to buy back $150 billion in shares. This repurchase authorization permits the computer hardware maker to purchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

Key Headlines Impacting NVIDIA

Investors following NVDA have been watching these headlines:

• Positive Sentiment: Despite cutting its price target to $300, Rosenblatt Securities maintained a Buy rating; other coverage also points to continued investor optimism about NVIDIA’s long-term growth potential. Rosenblatt Securities rating
• Positive Sentiment: Investors will look to the November 17 earnings report for evidence that AI demand remains robust. Articles cite strong infrastructure spending and a $108 billion revenue outlook as potential supports for the business. NVIDIA earnings preview
• Negative Sentiment: Huang’s departure creates uncertainty around succession and strategy. CFO Colette Kress is interim CEO, and the board has not yet selected a search firm for a permanent replacement. CEO search update

About NVIDIA

NVIDIA Corporation develops graphics processing units (GPUs), accelerated computing platforms and related software. Founded in 1993, the company first became widely known for GPUs used in PC gaming and professional graphics. Its technology now also supports artificial intelligence, scientific computing and other data-intensive applications. NVIDIA’s offerings include GeForce products for gaming, data-center GPUs and systems for AI workloads, and networking products that connect computing infrastructure.