Albar Capital Ltd Purchases Shares of 79,668 NVIDIA Co. (NASDAQ:NVDA)

Albar Capital Ltd purchased a new stake in NVIDIA Co. (NASDAQ:NVDA) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 79,668 shares of the computer hardware maker’s stock, valued at approximately $9,842,000. NVIDIA accounts for about 1.5% of Albar Capital Ltd’s investment portfolio, making the stock its 16th largest position.

A number of other hedge funds have also recently bought and sold shares of NVDA. Hamilton Wealth LLC boosted its position in NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after buying an additional 9 shares in the last quarter. Brooklyn FI LLC raised its stake in shares of NVIDIA by 2.5% in the first quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock worth $442,000 after acquiring an additional 12 shares during the last quarter. Curran Financial Partners LLC raised its stake in shares of NVIDIA by 1.8% in the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after acquiring an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC raised its stake in shares of NVIDIA by 2.6% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after acquiring an additional 12 shares during the last quarter. Finally, WFA Asset Management Corp raised its stake in shares of NVIDIA by 10.1% in the first quarter. WFA Asset Management Corp now owns 153 shares of the computer hardware maker’s stock worth $138,000 after acquiring an additional 14 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Down 0.7 %

NVIDIA stock opened at $140.52 on Tuesday. The stock has a market capitalization of $3.45 trillion, a PE ratio of 65.91, a price-to-earnings-growth ratio of 1.50 and a beta of 1.67. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $144.42. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $124.46 and a 200-day moving average of $114.81.

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

NVIDIA announced that its board has initiated a stock buyback program 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 repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the completion of the transaction, the chief executive officer now owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the completion of the transaction, the chief executive officer now owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,636,270 shares of company stock worth $305,367,927. 4.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NVDA. Benchmark reaffirmed a “buy” rating and issued a $170.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 target price on shares of NVIDIA in a research note on Thursday, October 10th. Needham & Company LLC boosted their target price on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Westpark Capital boosted their target price on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Truist Financial boosted their price target on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $143.07.

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.