CloudAlpha Capital Management Limited Hong Kong Boosts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

CloudAlpha Capital Management Limited Hong Kong boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 679.8% during the second quarter, Holdings Channel reports. The fund owned 1,042,626 shares of the computer hardware maker’s stock after purchasing an additional 908,920 shares during the period. NVIDIA makes up 11.0% of CloudAlpha Capital Management Limited Hong Kong’s holdings, making the stock its 3rd largest holding. CloudAlpha Capital Management Limited Hong Kong’s holdings in NVIDIA were worth $128,806,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in NVDA. Hillcrest Wealth Advisors NY LLC bought a new stake in NVIDIA in the 1st quarter valued at $299,000. &PARTNERS raised its stake in NVIDIA by 216.0% in the 1st quarter. &PARTNERS now owns 13,627 shares of the computer hardware maker’s stock valued at $12,313,000 after acquiring an additional 9,314 shares during the period. Mountain Pacific Investment Advisers Inc. ID bought a new stake in NVIDIA in the 1st quarter valued at $664,000. International Assets Investment Management LLC grew its holdings in NVIDIA by 16.6% in the 1st quarter. International Assets Investment Management LLC now owns 39,719 shares of the computer hardware maker’s stock valued at $35,892,000 after buying an additional 5,660 shares in the last quarter. Finally, Unique Wealth LLC grew its holdings in NVIDIA by 29.7% in the 1st quarter. Unique Wealth LLC now owns 2,471 shares of the computer hardware maker’s stock valued at $2,233,000 after buying an additional 566 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA opened at $143.59 on Wednesday. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $144.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company has a market capitalization of $3.53 trillion, a price-to-earnings ratio of 83.97, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67. The business has a 50-day moving average of $123.13 and a 200-day moving average of $113.31.

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, 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 company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period last year, the company earned $0.25 earnings per share. The firm’s revenue was up 122.4% compared to the same quarter last year. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current year.

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

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 2.34%.

Insider Buying and Selling

In related news, 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 completion of 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, 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 completion of 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $99.81, for a total value of $11,977,200.00. Following the sale, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,756,270 shares of company stock valued at $318,992,727 over the last 90 days. Company insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the topic of a number of research reports. Wells Fargo & Company upped their price objective on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Westpark Capital upped their price objective on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Evercore ISI upped their price objective on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Wedbush reaffirmed an “outperform” rating and issued a $138.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Finally, Bank of America upped their price objective on NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a report on Friday, October 18th. Five equities research 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. According to data from MarketBeat, NVIDIA presently has a consensus 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.