Kornitzer Capital Management Inc. KS Acquires 6,475 Shares of NVIDIA Co. (NASDAQ:NVDA)

Kornitzer Capital Management Inc. KS boosted its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 256,490 shares of the computer hardware maker's stock after acquiring an additional 6,475 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in NVIDIA were worth $31,148,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Lantz Financial LLC grew its holdings in shares of NVIDIA by 833.1% during the 2nd quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker's stock valued at $5,088,000 after purchasing an additional 36,774 shares during the last quarter. Quad Cities Investment Group LLC increased its holdings in NVIDIA by 2,196.7% during the 2nd quarter. Quad Cities Investment Group LLC now owns 21,796 shares of the computer hardware maker's stock valued at $2,693,000 after purchasing an additional 20,847 shares during the period. Czech National Bank raised its position in NVIDIA by 978.7% during the 2nd quarter. Czech National Bank now owns 4,688,117 shares of the computer hardware maker's stock valued at $579,170,000 after purchasing an additional 4,253,518 shares during the last quarter. SMI Advisory Services LLC bought a new stake in shares of NVIDIA in the 2nd quarter worth approximately $562,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of NVIDIA by 886.1% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 706,920 shares of the computer hardware maker's stock valued at $87,241,000 after buying an additional 635,228 shares during the period. Institutional investors own 65.27% of the company's stock.

NVIDIA Price Performance

NVDA stock traded up $4.02 during mid-day trading on Friday, hitting $134.70. The company had a trading volume of 304,377,688 shares, compared to its average volume of 382,932,125. The company has a market capitalization of $3.30 trillion, a price-to-earnings ratio of 53.01, a P/E/G ratio of 2.43 and a beta of 1.63. The company has a 50-day moving average price of $139.63 and a 200 day moving average price of $127.32. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the prior year, the company earned $0.38 earnings per share. The firm's revenue was up 93.6% on a year-over-year basis. On average, research analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be 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 is Thursday, December 5th. NVIDIA's dividend payout ratio is presently 1.57%.

NVIDIA declared that its Board of Directors has approved a stock repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Citigroup lifted their price target on shares of NVIDIA from $170.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, November 21st. Morgan Stanley raised their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the stock an "overweight" rating in a report on Monday, November 11th. Piper Sandler increased their target price on NVIDIA from $140.00 to $175.00 and gave the stock an "overweight" rating in a research report on Monday, November 11th. Stifel Nicolaus lifted their price target on NVIDIA from $165.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. Finally, Sanford C. Bernstein boosted their target price on shares of NVIDIA from $130.00 to $155.00 and gave the company an "outperform" rating in a report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $164.15.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now directly owns 480,899 shares of the company's stock, valued at $65,056,016.72. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Stevens sold 40,000 shares of the business's stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the transaction, the director now directly owns 8,380,117 shares in the company, valued at approximately $1,014,077,958.17. This represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,556,986 shares of company stock worth $201,687,727 over the last 90 days. 4.23% of the stock is owned by insiders.

NVIDIA 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.