AlphaStar Capital Management LLC Grows Stake in NVIDIA Co. (NASDAQ:NVDA)

AlphaStar Capital Management LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,046.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,810 shares of the computer hardware maker’s stock after purchasing an additional 116,659 shares during the quarter. NVIDIA makes up 1.5% of AlphaStar Capital Management LLC’s portfolio, making the stock its 17th biggest holding. AlphaStar Capital Management LLC’s holdings in NVIDIA were worth $15,790,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NVDA. Lowe Wealth Advisors LLC purchased a new position in NVIDIA during the 2nd quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. boosted its holdings in shares of NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA in the 1st quarter worth approximately $26,000. CGC Financial Services LLC purchased a new position in shares of NVIDIA in the 2nd quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in shares of NVIDIA in the 1st quarter worth approximately $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $128.17, for a total transaction of $576,765.00. Following the transaction, the insider now owns 503,878 shares in the company, valued at approximately $64,582,043.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $128.17, for a total transaction of $576,765.00. Following the sale, the insider now directly owns 503,878 shares in the company, valued at approximately $64,582,043.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 100,110 shares of NVIDIA stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the sale, the executive vice president now owns 3,939,350 shares in the company, valued at $512,509,435. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,725,633 shares of company stock worth $449,025,722. 4.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on NVDA. Piper Sandler reiterated an “overweight” rating and issued a $140.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Truist Financial lifted their target price on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. DA Davidson reiterated a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a report on Thursday, August 29th. UBS Group raised their price target on NVIDIA from $120.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Finally, Loop Capital reissued a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research note on Monday, August 26th. 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. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Stock Down 1.9 %

NVDA stock opened at $113.37 on Thursday. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.79 trillion, a price-to-earnings ratio of 66.30, a PEG ratio of 1.06 and a beta of 1.67. The company has a 50 day moving average of $116.45 and a two-hundred day moving average of $106.68.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the previous year, the business earned $0.25 EPS. NVIDIA’s quarterly revenue was up 122.4% compared to the same quarter last year. On average, equities analysts anticipate that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. NVIDIA’s payout ratio is 2.34%.

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.