AlTi Global Inc. Boosts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

AlTi Global Inc. grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 954.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,441 shares of the computer hardware maker’s stock after buying an additional 96,346 shares during the period. AlTi Global Inc.’s holdings in NVIDIA were worth $13,150,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NVDA. Albar Capital Ltd bought a new stake in NVIDIA during the 2nd quarter valued at approximately $9,842,000. Alight Capital Management LP raised its stake in 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 purchasing an additional 135,000 shares during the period. Alley Investment Management Company LLC bought a new stake in NVIDIA during the 2nd quarter valued at approximately $7,151,000. Alpha DNA Investment Management LLC raised its stake in NVIDIA by 900.2% during 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 period. Finally, Wick Capital Partners LLC raised its stake in NVIDIA by 663.8% during the 2nd quarter. Wick Capital Partners LLC now owns 9,303 shares of the computer hardware maker’s stock valued at $1,149,000 after purchasing an additional 8,085 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $140.52 on Tuesday. The stock’s fifty day moving average is $124.46 and its two-hundred day moving average is $114.81. The company 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. 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.

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

NVIDIA announced that its board has approved a share repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

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 given a dividend of $0.01 per share. 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%.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was 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 position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,636,270 shares of company stock valued at $305,367,927. 4.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NVDA has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Loop Capital reissued a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research note on Monday, August 26th. Benchmark reissued a “buy” rating and set a $170.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. KeyCorp lifted their price objective on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Finally, Bank of America lifted their price objective on NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company 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.