NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Alight Capital Management LP

Alight Capital Management LP increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1,350.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 145,000 shares of the computer hardware maker’s stock after purchasing an additional 135,000 shares during the quarter. NVIDIA accounts for about 4.4% of Alight Capital Management LP’s holdings, making the stock its 5th largest holding. Alight Capital Management LP’s holdings in NVIDIA were worth $17,913,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NVDA. Lowe Wealth Advisors LLC acquired a new position in NVIDIA in the 2nd quarter worth about $25,000. DHJJ Financial Advisors Ltd. raised its holdings in NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. acquired a new position in NVIDIA in the 1st quarter worth about $26,000. CGC Financial Services LLC acquired a new position in NVIDIA in the 2nd quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA during the 1st quarter worth approximately $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Raymond James boosted their price objective on NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. Morgan Stanley reiterated an “overweight” rating and set a $150.00 price objective on shares of NVIDIA in a research note on Thursday, October 10th. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a research note on Monday, August 5th. Finally, Piper Sandler reiterated an “overweight” rating and set a $140.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Five equities 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $143.07.

Insider Activity

In related news, 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 value 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This trade 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 firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares in the company, valued at approximately $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 three months, insiders have sold 2,636,270 shares of company stock worth $305,367,927. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 0.7 %

NASDAQ:NVDA opened at $140.52 on Tuesday. The stock has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 65.91, a price-to-earnings-growth ratio of 1.50 and a beta of 1.67. 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 $144.42. The stock’s fifty day moving average is $124.46 and its two-hundred day moving average is $114.81.

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

NVIDIA Cuts Dividend

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

NVIDIA declared that its Board of Directors has initiated a stock repurchase 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 reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.