NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Aljian Capital Management LLC

Aljian Capital Management LLC raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 863.7% during the second quarter, Holdings Channel reports. The firm owned 278,526 shares of the computer hardware maker’s stock after purchasing an additional 249,623 shares during the period. NVIDIA makes up about 11.4% of Aljian Capital Management LLC’s holdings, making the stock its 5th biggest holding. Aljian Capital Management LLC’s holdings in NVIDIA were worth $34,409,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Hamilton Wealth LLC raised its holdings in shares of NVIDIA by 0.3% during the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after purchasing an additional 9 shares during the period. Brooklyn FI LLC grew its position in shares of NVIDIA by 2.5% during the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after buying an additional 12 shares during the last quarter. Curran Financial Partners LLC raised its stake in NVIDIA by 1.8% during the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after acquiring an additional 12 shares during the period. Beacon Bridge Wealth Partners LLC lifted its holdings in NVIDIA by 2.6% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after acquiring an additional 12 shares during the last quarter. Finally, M. Kraus & Co boosted its stake in NVIDIA by 2.0% in the first quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock valued at $594,000 after acquiring an additional 13 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Down 1.9 %

NVIDIA stock opened at $116.78 on Tuesday. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The firm has a market capitalization of $2.87 trillion, a price-to-earnings ratio of 68.29, a P/E/G ratio of 1.06 and a beta of 1.67. The company has a 50 day moving average price of $117.19 and a 200 day moving average price of $106.39.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 earnings per share. Research analysts forecast that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be issued a $0.01 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is 2.34%.

NVIDIA announced that its board has approved a stock buyback program 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 programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Barclays dropped their price target on NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, June 10th. Jefferies Financial Group increased their target price on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Sanford C. Bernstein boosted their price target on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Wolfe Research increased their price objective on shares of NVIDIA from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.10.

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the transaction, the director now directly owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mark A. Stevens sold 156,023 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $129.81, for a total transaction of $20,253,345.63. Following the completion of the sale, the director now directly owns 8,585,217 shares of the company’s stock, valued at approximately $1,114,447,018.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total value of $50,334,900.00. Following the completion of the sale, the director now directly owns 9,141,240 shares of the company’s stock, valued at approximately $1,195,125,717.60. The disclosure for this sale can be found here. Insiders sold 3,845,633 shares of company stock valued at $465,330,122 over the last three months. 4.23% of the stock is owned by corporate insiders.

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.