ClearAlpha Technologies LP Raises Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

ClearAlpha Technologies LP boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 64.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,970 shares of the computer hardware maker’s stock after purchasing an additional 1,550 shares during the period. ClearAlpha Technologies LP’s holdings in NVIDIA were worth $482,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc boosted its stake in NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after acquiring an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after purchasing an additional 163,482,580 shares during the period. Ameriprise Financial Inc. lifted its stake in NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after purchasing an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in NVIDIA by 1,123.2% during the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after purchasing an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in NVIDIA by 808.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after buying an additional 73,589,208 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the sale, the chief financial officer now directly owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is currently owned by company insiders.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $136.32 on Thursday. The stock has a market capitalization of $3.34 trillion, a price-to-earnings ratio of 53.65, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The company has a fifty day moving average of $139.68 and a 200-day moving average of $128.82. NVIDIA Co. has a 52-week low of $54.74 and a 52-week high of $153.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same period last year, the firm earned $0.38 earnings per share. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. Equities research analysts expect that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were paid a $0.01 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 1.57%.

Analysts Set New Price Targets

A number of brokerages have recently commented on NVDA. Bank of America reaffirmed a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. JPMorgan Chase & Co. increased their target price on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Stifel Nicolaus boosted their price target on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Phillip Securities restated an “accumulate” rating and set a $160.00 price target (up from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Finally, William Blair initiated coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $164.27.

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.