Aletheian Wealth Advisors LLC Grows Stake in NVIDIA Co. (NASDAQ:NVDA)

Aletheian Wealth Advisors LLC raised its position in NVIDIA Co. (NASDAQ:NVDA) by 801.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 46,506 shares of the computer hardware maker’s stock after acquiring an additional 41,345 shares during the quarter. NVIDIA makes up approximately 3.0% of Aletheian Wealth Advisors LLC’s portfolio, making the stock its 9th biggest position. Aletheian Wealth Advisors LLC’s holdings in NVIDIA were worth $5,745,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA during the first quarter worth $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA during the first quarter worth $27,000. HBC Financial Services PLLC acquired a new stake in shares of NVIDIA during the first quarter worth $30,000. Norwood Financial Corp acquired a new stake in shares of NVIDIA during the first quarter worth $45,000. Finally, Coston McIsaac & Partners lifted its stake in shares of NVIDIA by 231.3% during the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after buying an additional 37 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NVDA. Citigroup lifted their price objective on shares of NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Raymond James raised their target price on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. StockNews.com cut shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 18th. Wells Fargo & Company raised their target price on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.10.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $134.10, for a total value of $16,092,000.00. Following the transaction, the chief executive officer now directly owns 79,254,995 shares in the company, valued at approximately $10,628,094,829.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $134.10, for a total value of $16,092,000.00. Following the sale, the chief executive officer now directly owns 79,254,995 shares of the company’s stock, valued at approximately $10,628,094,829.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $120.85, for a total transaction of $12,085,000.00. Following the completion of the sale, the chief financial officer now directly owns 5,188,862 shares in the company, valued at $627,073,972.70. The disclosure for this sale can be found here. Insiders have sold 3,692,303 shares of company stock worth $444,047,307 in the last ninety days. 4.23% of the stock is owned by insiders.

NVIDIA Stock Performance

NVDA opened at $116.00 on Friday. The firm has a market capitalization of $2.85 trillion, a PE ratio of 67.84, a PEG ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The firm’s 50-day moving average price is $115.99 and its 200 day moving average price is $106.97. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 earnings per share. As a group, sell-side analysts expect that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its board has initiated a share repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

NVIDIA Company 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.