Alpha Financial Partners LLC Boosts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Alpha Financial Partners LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1,066.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,198 shares of the computer hardware maker’s stock after purchasing an additional 6,581 shares during the period. NVIDIA accounts for about 0.8% of Alpha Financial Partners LLC’s holdings, making the stock its 22nd biggest position. Alpha Financial Partners LLC’s holdings in NVIDIA were worth $889,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of NVDA. Aprio Wealth Management LLC increased its stake in shares of NVIDIA by 102.1% in the first quarter. Aprio Wealth Management LLC now owns 2,134 shares of the computer hardware maker’s stock worth $1,928,000 after purchasing an additional 1,078 shares in the last quarter. Fragasso Group Inc. increased its stake in shares of NVIDIA by 4.9% in the first quarter. Fragasso Group Inc. now owns 9,957 shares of the computer hardware maker’s stock worth $8,997,000 after purchasing an additional 467 shares in the last quarter. LexAurum Advisors LLC increased its stake in shares of NVIDIA by 1.9% in the first quarter. LexAurum Advisors LLC now owns 4,733 shares of the computer hardware maker’s stock worth $4,276,000 after purchasing an additional 90 shares in the last quarter. Buckingham Capital Management Inc. increased its stake in shares of NVIDIA by 51.4% in the first quarter. Buckingham Capital Management Inc. now owns 6,416 shares of the computer hardware maker’s stock worth $5,797,000 after purchasing an additional 2,178 shares in the last quarter. Finally, Sterling Financial Group Inc. grew its stake in NVIDIA by 0.9% during the first quarter. Sterling Financial Group Inc. now owns 1,452 shares of the computer hardware maker’s stock valued at $1,312,000 after acquiring an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NVDA shares. Needham & Company LLC upped their target price on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. upped their price target on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. UBS Group reissued a “buy” rating and set a $150.00 price objective on shares of NVIDIA in a research note on Tuesday, October 8th. Loop Capital restated a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Monday, August 26th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $150.00 price target on shares of NVIDIA in a research report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

NVIDIA Stock Up 0.8 %

Shares of NASDAQ NVDA opened at $138.00 on Monday. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.89. The firm’s fifty day moving average is $121.88 and its 200 day moving average is $112.51. The company has a market cap of $3.39 trillion, a price-to-earnings ratio of 64.73, a PEG ratio of 1.25 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 EPS. On average, equities research analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s payout ratio is currently 1.88%.

NVIDIA announced that its board has authorized a share buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $113.54, for a total transaction of $13,624,800.00. Following the transaction, the chief executive officer now directly owns 77,814,995 shares of the company’s stock, valued at approximately $8,835,114,532.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $113.54, for a total transaction of $13,624,800.00. Following the transaction, the chief executive officer now directly owns 77,814,995 shares of the company’s stock, valued at approximately $8,835,114,532.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,876,270 shares of company stock valued at $333,061,527. 4.23% of the stock is currently owned by company insiders.

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.