Alta Advisers Ltd Has $13.41 Million Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Alta Advisers Ltd raised its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 51.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 123,762 shares of the computer hardware maker’s stock after purchasing an additional 42,150 shares during the period. NVIDIA accounts for 5.7% of Alta Advisers Ltd’s portfolio, making the stock its 3rd largest position. Alta Advisers Ltd’s holdings in NVIDIA were worth $13,413,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Sage Advisors LLC increased its stake in shares of NVIDIA by 12.7% during the first quarter. Sage Advisors LLC now owns 20,965 shares of the computer hardware maker’s stock valued at $2,272,000 after purchasing an additional 2,361 shares in the last quarter. New Millennium Group LLC increased its stake in shares of NVIDIA by 1.6% during the first quarter. New Millennium Group LLC now owns 140,443 shares of the computer hardware maker’s stock valued at $15,221,000 after purchasing an additional 2,279 shares in the last quarter. Smith Salley Wealth Management grew its holdings in shares of NVIDIA by 0.9% during the first quarter. Smith Salley Wealth Management now owns 658,691 shares of the computer hardware maker’s stock valued at $71,389,000 after buying an additional 6,135 shares during the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of NVIDIA during the first quarter valued at approximately $51,000. Finally, Keystone Financial Services LLC grew its holdings in shares of NVIDIA by 37.2% during the first quarter. Keystone Financial Services LLC now owns 10,425 shares of the computer hardware maker’s stock valued at $1,130,000 after buying an additional 2,827 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Up 1.7%

Shares of NVDA stock opened at $173.74 on Friday. The company has a market capitalization of $4.24 trillion, a price-to-earnings ratio of 56.05, a PEG ratio of 1.50 and a beta of 2.13. NVIDIA Corporation has a one year low of $86.62 and a one year high of $174.25. The company’s fifty day moving average price is $150.19 and its 200-day moving average price is $130.70. 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 announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 earnings per share. Sell-side analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued 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 is currently 1.29%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NVDA shares. Rosenblatt Securities increased their price target on shares of NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Bank of America increased their price target on shares of NVIDIA from $180.00 to $220.00 in a report on Wednesday, July 16th. Truist Financial increased their price target on shares of NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Piper Sandler reiterated an “overweight” rating and set a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Finally, Summit Insights upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $181.22.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director A Brooke Seawell sold 48,792 shares of NVIDIA stock in a transaction on Monday, July 14th. The shares were sold at an average price of $163.96, for a total value of $7,999,936.32. Following the sale, the director directly owned 1,729,478 shares in the company, valued at approximately $283,565,212.88. The trade was a 2.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 27,650 shares of NVIDIA 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 completion of the sale, the chief financial officer owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,114,800 shares of company stock worth $760,553,003. Insiders own 4.17% of the company’s stock.

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.