Altman Advisors Inc. Has $6.32 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Altman Advisors Inc. boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1,100.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,158 shares of the computer hardware maker’s stock after acquiring an additional 46,895 shares during the quarter. NVIDIA comprises about 3.6% of Altman Advisors Inc.’s investment portfolio, making the stock its 6th biggest holding. Altman Advisors Inc.’s holdings in NVIDIA were worth $6,320,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA in the 2nd quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. raised its stake in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA in the first quarter valued at $26,000. CGC Financial Services LLC acquired a new stake in shares of NVIDIA in the second quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in shares of NVIDIA during the first quarter valued at $27,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Morgan Stanley reissued an “overweight” rating and issued a $150.00 price target on shares of NVIDIA in a research note on Thursday, October 10th. HSBC raised their price objective on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Wedbush reissued an “outperform” rating and issued a $138.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Raymond James raised their price target on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $142.46.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $138.07 on Tuesday. The firm has a 50 day simple moving average of $119.30 and a 200 day simple moving average of $111.23. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. 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 firm has a market cap of $3.40 trillion, a P/E ratio of 80.74, a P/E/G ratio of 1.20 and a beta of 1.67.

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

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. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is 2.34%.

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

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $119.17, for a total transaction of $14,300,400.00. Following the transaction, the chief executive officer now owns 78,654,995 shares in the company, valued at $9,373,315,754.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $119.17, for a total value of $14,300,400.00. Following the completion of the transaction, the chief executive officer now directly owns 78,654,995 shares of the company’s stock, valued at approximately $9,373,315,754.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,236,270 shares of company stock valued at $376,316,727 in the last quarter. Company insiders own 4.23% of the company’s stock.

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.