Alpine Bank Wealth Management Purchases New Stake in NVIDIA Corporation (NASDAQ:NVDA)

Alpine Bank Wealth Management acquired a new position in shares of NVIDIA Corporation (NASDAQ:NVDA) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,173 shares of the computer hardware maker’s stock, valued at approximately $3,379,000. NVIDIA comprises approximately 0.5% of Alpine Bank Wealth Management’s holdings, making the stock its 28th largest position.

Other institutional investors have also recently bought and sold shares of the company. Wealth Group Ltd. increased its position in shares of NVIDIA by 1.8% during the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker’s stock valued at $766,000 after acquiring an additional 100 shares during the last quarter. Tallon Kerry Patrick purchased a new position in shares of NVIDIA in the fourth quarter worth about $972,000. Capital & Planning LLC raised its holdings in NVIDIA by 16.9% during the 4th quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker’s stock valued at $1,021,000 after acquiring an additional 1,099 shares during the period. Ironwood Wealth Management LLC. raised its stake in shares of NVIDIA by 1.6% during the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker’s stock valued at $871,000 after purchasing an additional 104 shares during the period. Finally, Brighton Jones LLC lifted its holdings in shares of NVIDIA by 12.4% in the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock worth $43,631,000 after buying an additional 35,815 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $171.37 on Thursday. The company has a market capitalization of $4.18 trillion, a PE ratio of 55.28, a PEG ratio of 1.51 and a beta of 2.13. The business has a fifty day moving average price of $144.76 and a 200-day moving average price of $129.39. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $172.40. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company’s quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.61 EPS. As a group, equities analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s dividend payout ratio is currently 1.29%.

Insiders Place Their Bets

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the sale, the director directly owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the transaction, the chief executive officer directly owned 75,548,225 shares of the company’s stock, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,767,150 shares of company stock worth $701,030,045 over the last three months. Company insiders own 4.17% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of research analyst reports. Jefferies Financial Group upped their target price on NVIDIA from $185.00 to $200.00 in a research note on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of NVIDIA in a research note on Wednesday, April 16th. HSBC downgraded NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research report on Thursday, April 3rd. Barclays boosted their price objective on shares of NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, June 17th. Finally, Needham & Company LLC increased their target price on shares of NVIDIA from $160.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.22.

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.