Wealth Alliance Advisory Group LLC Buys 67,387 Shares of NVIDIA Co. (NASDAQ:NVDA)

Wealth Alliance Advisory Group LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 813.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,669 shares of the computer hardware maker’s stock after purchasing an additional 67,387 shares during the quarter. NVIDIA makes up 2.1% of Wealth Alliance Advisory Group LLC’s portfolio, making the stock its 13th biggest holding. Wealth Alliance Advisory Group LLC’s holdings in NVIDIA were worth $9,348,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Aveo Capital Partners LLC grew its holdings in NVIDIA by 30.5% during the 4th quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock valued at $1,164,000 after buying an additional 549 shares in the last quarter. Gryphon Financial Partners LLC lifted its stake in shares of NVIDIA by 60.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock worth $7,188,000 after acquiring an additional 5,496 shares during the last quarter. Alta Wealth Advisors LLC lifted its stake in shares of NVIDIA by 0.4% during the 4th quarter. Alta Wealth Advisors LLC now owns 6,647 shares of the computer hardware maker’s stock worth $3,292,000 after acquiring an additional 26 shares during the last quarter. United Services Automobile Association increased its holdings in NVIDIA by 10.1% during the 4th quarter. United Services Automobile Association now owns 73,387 shares of the computer hardware maker’s stock worth $36,343,000 after purchasing an additional 6,760 shares during the period. Finally, IPG Investment Advisors LLC increased its holdings in NVIDIA by 12.5% during the 4th quarter. IPG Investment Advisors LLC now owns 29,276 shares of the computer hardware maker’s stock worth $14,498,000 after purchasing an additional 3,243 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 2.1 %

Shares of NASDAQ NVDA opened at $121.40 on Friday. The stock has a market cap of $2.98 trillion, a P/E ratio of 70.99, a PEG ratio of 1.05 and a beta of 1.67. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76. The business’s fifty day simple moving average is $115.81 and its 200-day simple moving average is $107.87.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue was up 122.4% on a year-over-year basis. During the same quarter last year, the company posted $0.25 earnings per share. As a group, equities analysts predict that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is 2.34%.

NVIDIA declared that its board has authorized a stock buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to reacquire 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

A number of research analysts have recently issued reports on the company. UBS Group lifted their price target on NVIDIA from $120.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 8th. Wedbush reaffirmed an “outperform” rating and set a $138.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Barclays lowered their price target on NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, June 10th. Argus boosted their price objective on NVIDIA from $110.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Finally, New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a report on Tuesday, August 6th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $142.10.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 385,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the completion of the sale, the director now directly owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The disclosure for this sale can be found here. In the last three months, insiders sold 4,397,403 shares of company stock worth $526,762,784. Company insiders own 4.23% of the company’s stock.

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.