Alta Wealth Advisors LLC Grows Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Alta Wealth Advisors LLC grew its position in NVIDIA Corporation (NASDAQ:NVDA) by 3.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,356 shares of the computer hardware maker’s stock after acquiring an additional 2,409 shares during the quarter. NVIDIA accounts for 3.6% of Alta Wealth Advisors LLC’s portfolio, making the stock its 4th biggest holding. Alta Wealth Advisors LLC’s holdings in NVIDIA were worth $7,734,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in NVDA. Tacita Capital Inc bought a new position in NVIDIA in the 4th quarter valued at $28,000. Vision Financial Markets LLC bought a new position in NVIDIA in the 4th quarter valued at $38,000. Copia Wealth Management bought a new position in NVIDIA in the 4th quarter valued at $50,000. LSV Asset Management bought a new position in NVIDIA in the 4th quarter valued at $54,000. Finally, Bruce G. Allen Investments LLC grew its position in NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after acquiring an additional 327 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $172.41 on Friday. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $174.25. The stock has a market capitalization of $4.21 trillion, a P/E ratio of 55.62, a PEG ratio of 1.52 and a beta of 2.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The business’s fifty day moving average price is $146.99 and its 200 day moving average price is $129.86.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm’s revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 earnings per share. As a group, research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is 1.29%.

Analyst Ratings Changes

Several equities research analysts have weighed in on NVDA shares. Citigroup upped their target price on NVIDIA from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, July 7th. Rosenblatt Securities upped their price objective on NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Wedbush restated an “outperform” rating on shares of NVIDIA in a research note on Thursday, May 29th. Summit Insights upgraded NVIDIA from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. Finally, Hsbc Global Res cut NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $181.22.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $172.52, for a total transaction of $12,939,000.00. Following the sale, the chief executive officer directly owned 74,348,225 shares of the company’s stock, valued at $12,826,555,777. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 27,650 shares of the business’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the sale, the chief financial officer directly owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. This trade represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,964,800 shares of company stock worth $734,906,003 over the last ninety days. Company insiders own 4.17% of the company’s stock.

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.