NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Affinity Capital Advisors LLC

Affinity Capital Advisors LLC boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1,018.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,603 shares of the computer hardware maker’s stock after buying an additional 6,923 shares during the quarter. Affinity Capital Advisors LLC’s holdings in NVIDIA were worth $939,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. AlTi Global Inc. grew its position in NVIDIA by 954.4% during the 2nd quarter. AlTi Global Inc. now owns 106,441 shares of the computer hardware maker’s stock worth $13,150,000 after purchasing an additional 96,346 shares in the last quarter. Albar Capital Ltd purchased a new position in shares of NVIDIA during the 2nd quarter valued at $9,842,000. Alight Capital Management LP grew its holdings in shares of NVIDIA by 1,350.0% during the 2nd quarter. Alight Capital Management LP now owns 145,000 shares of the computer hardware maker’s stock valued at $17,913,000 after acquiring an additional 135,000 shares in the last quarter. Alley Investment Management Company LLC acquired a new stake in shares of NVIDIA in the 2nd quarter valued at $7,151,000. Finally, Alpha DNA Investment Management LLC lifted its stake in shares of NVIDIA by 900.2% in the 2nd quarter. Alpha DNA Investment Management LLC now owns 20,575 shares of the computer hardware maker’s stock valued at $2,542,000 after purchasing an additional 18,518 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Down 0.7 %

NVDA opened at $140.52 on Tuesday. The company’s 50 day moving average is $124.46 and its 200-day moving average is $114.81. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $144.42. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market cap of $3.45 trillion, a P/E ratio of 65.91, a PEG ratio of 1.50 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 during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter last year, the business earned $0.25 EPS. Equities research analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA declared that its board has initiated a stock repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

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

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $99.81, for a total value 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 $7,694,851,450.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,636,270 shares of company stock worth $305,367,927 in the last quarter. 4.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of research analyst reports. Raymond James boosted their target price on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 29th. Evercore ISI raised their price objective on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $100.00 target price on shares of NVIDIA in a research report on Monday, August 5th. Piper Sandler reissued an “overweight” rating and set a $140.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Finally, The Goldman Sachs Group lifted their price target on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, October 11th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Company 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.