Alterna Wealth Management Inc. Has $1.04 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Alterna Wealth Management Inc. raised its position in NVIDIA Co. (NASDAQ:NVDA) by 22.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,544 shares of the computer hardware maker’s stock after purchasing an additional 1,579 shares during the quarter. Alterna Wealth Management Inc.’s holdings in NVIDIA were worth $1,038,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. CGC Financial Services LLC acquired a new position in NVIDIA during the second quarter worth $26,000. Quest Partners LLC acquired a new stake in shares of NVIDIA in the second quarter worth $27,000. Christopher J. Hasenberg Inc acquired a new position in NVIDIA in the 3rd quarter valued at $27,000. University of Texas Texas AM Investment Management Co. bought a new position in NVIDIA in the 2nd quarter worth $31,000. Finally, FPC Investment Advisory Inc. boosted its holdings in NVIDIA by 900.0% during the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock valued at $34,000 after acquiring an additional 261 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,628,156 shares of company stock worth $209,985,077 in the last three months. Insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NVDA shares. Wells Fargo & Company boosted their price objective on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Evercore ISI raised their price target on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Stifel Nicolaus increased their target price on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Raymond James boosted their price target 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 analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Trading Down 1.1 %

Shares of NVDA opened at $128.91 on Thursday. The stock’s fifty day simple moving average is $139.72 and its 200-day simple moving average is $127.08. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.16 trillion, a PE ratio of 50.73, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 EPS. As a group, research analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA declared that its board has initiated a share repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is currently 1.57%.

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.