Alliance Wealth Advisors LLC Reduces Position in NVIDIA Co. (NASDAQ:NVDA)

Alliance Wealth Advisors LLC cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 6.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,444 shares of the computer hardware maker’s stock after selling 659 shares during the period. Alliance Wealth Advisors LLC’s holdings in NVIDIA were worth $1,147,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. lifted its stake in NVIDIA by 897.5% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after buying an additional 107,169 shares during the last quarter. Truepoint Inc. raised its holdings in shares of NVIDIA by 914.1% during the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after acquiring an additional 11,709 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of NVIDIA by 683.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after purchasing an additional 208,362 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after buying an additional 191,469,114 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd grew its stake in shares of NVIDIA by 1,106.0% in the second quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock worth $65,758,000 after acquiring an additional 488,148 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other 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 14.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark A. Stevens sold 165,100 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total value of $20,021,677.00. Following the transaction, the director now owns 8,420,117 shares in the company, valued at approximately $1,021,107,588.59. This represents a 1.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock worth $254,784,327 over the last three months. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of recent analyst reports. Oppenheimer increased their target price on shares of NVIDIA from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. TD Cowen raised NVIDIA to a “strong-buy” rating in a research report on Monday, September 16th. Redburn Atlantic began coverage on shares of NVIDIA in a report on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price on the stock. Needham & Company LLC increased their price target on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.63.

NVIDIA Trading Down 0.8 %

NASDAQ NVDA opened at $145.89 on Thursday. The firm’s 50-day moving average is $133.00 and its two-hundred day moving average is $121.54. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $149.77. The stock has a market capitalization of $3.58 trillion, a P/E ratio of 68.49, a PEG ratio of 1.49 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.38 earnings per share. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.67 earnings per share for the current year.

NVIDIA announced that its Board of Directors has authorized a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.88%.

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.