Alternative Investment Advisors LLC. Invests $2.10 Million in NVIDIA Co. (NASDAQ:NVDA)

Alternative Investment Advisors LLC. purchased a new position in NVIDIA Co. (NASDAQ:NVDA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 17,024 shares of the computer hardware maker’s stock, valued at approximately $2,103,000. NVIDIA accounts for approximately 1.2% of Alternative Investment Advisors LLC.’s investment portfolio, making the stock its 18th largest position.

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

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a research report on Tuesday, October 8th. Benchmark reiterated a “buy” rating and set a $170.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Robert W. Baird boosted their target price on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, William Blair started coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $143.07.

NVIDIA Price Performance

NASDAQ NVDA opened at $135.40 on Monday. The company has a market cap of $3.32 trillion, a PE ratio of 63.57, a price-to-earnings-growth ratio of 1.40 and a beta of 1.66. NVIDIA Co. has a 52 week low of $42.89 and a 52 week 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 firm’s 50-day simple moving average is $125.25 and its two-hundred day simple moving average is $116.24.

NVIDIA (NASDAQ:NVDA) last announced 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. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the firm posted $0.25 earnings per share. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. Research analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,396,270 shares of company stock valued at $279,825,927. 4.23% of the stock is currently owned by corporate 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.