Alpha Financial Partners LLC Reduces Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Alpha Financial Partners LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 51.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,509 shares of the computer hardware maker’s stock after selling 3,689 shares during the period. Alpha Financial Partners LLC’s holdings in NVIDIA were worth $426,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of NVDA. China Universal Asset Management Co. Ltd. increased its holdings in shares of NVIDIA by 52.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock worth $34,597,000 after purchasing an additional 13,135 shares during the period. Western Pacific Wealth Management LP increased its holdings in shares of NVIDIA by 63.1% in the first quarter. Western Pacific Wealth Management LP now owns 4,047 shares of the computer hardware maker’s stock worth $3,657,000 after purchasing an additional 1,566 shares during the period. Plato Investment Management Ltd increased its holdings in shares of NVIDIA by 822.6% in the first quarter. Plato Investment Management Ltd now owns 54,726 shares of the computer hardware maker’s stock worth $49,448,000 after purchasing an additional 48,794 shares during the period. New Covenant Trust Company N.A. bought a new position in shares of NVIDIA in the first quarter worth $1,578,000. Finally, Montchanin Asset Management LLC bought a new position in NVIDIA in the first quarter valued at $1,355,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on NVDA shares. HSBC increased their target price on NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. William Blair assumed coverage on NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Morgan Stanley raised their price objective on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research note on Monday, November 18th. Finally, Raymond James raised their price objective on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 14th. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

Insider Activity at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 14.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Dabiri sold 716 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,796,986 shares of company stock worth $214,418,399. 4.23% of the stock is owned by corporate insiders.

NVIDIA Trading Down 1.8 %

Shares of NVIDIA stock opened at $142.44 on Friday. The company’s fifty day simple moving average is $138.16 and its 200-day simple moving average is $125.58. The stock has a market capitalization of $3.49 trillion, a PE ratio of 56.06, a P/E/G ratio of 2.62 and a beta of 1.63. NVIDIA Co. has a 1-year low of $45.60 and a 1-year high of $152.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.38 EPS. As a group, equities analysts anticipate that NVIDIA Co. will post 2.76 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid 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 is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

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

About NVIDIA

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.