SeaBridge Investment Advisors LLC Has $1.08 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

SeaBridge Investment Advisors LLC boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,028.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,722 shares of the computer hardware maker’s stock after purchasing an additional 7,949 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in NVIDIA were worth $1,078,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in NVDA. Aveo Capital Partners LLC lifted its position in NVIDIA by 30.5% during the fourth quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock worth $1,164,000 after purchasing an additional 549 shares during the period. Gryphon Financial Partners LLC lifted its holdings in shares of NVIDIA by 60.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock worth $7,188,000 after acquiring an additional 5,496 shares during the period. Rice Partnership LLC boosted its position in shares of NVIDIA by 8.4% during the 4th quarter. Rice Partnership LLC now owns 20,885 shares of the computer hardware maker’s stock worth $10,343,000 after acquiring an additional 1,624 shares in the last quarter. Alpha DNA Investment Management LLC boosted its stake in NVIDIA by 77.0% in the fourth quarter. Alpha DNA Investment Management LLC now owns 3,014 shares of the computer hardware maker’s stock valued at $1,493,000 after buying an additional 1,311 shares in the last quarter. Finally, BlueSky Wealth Advisors LLC increased its position in NVIDIA by 1.8% during the 4th quarter. BlueSky Wealth Advisors LLC now owns 5,392 shares of the computer hardware maker’s stock worth $2,670,000 after purchasing an additional 96 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $124.28, for a total value of $14,913,600.00. Following the transaction, the chief executive officer now owns 79,734,995 shares in the company, valued at $9,909,465,178.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,277,403 shares of company stock valued at $512,029,184. Company insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of research reports. Craig Hallum boosted their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. boosted their price objective on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Sanford C. Bernstein boosted their target price on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Tuesday, August 6th. Finally, DA Davidson reiterated a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Trading Up 0.0 %

NASDAQ:NVDA opened at $121.44 on Tuesday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm’s 50 day moving average is $115.83 and its 200 day moving average is $108.59. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.76. The stock has a market capitalization of $2.99 trillion, a PE ratio of 71.02, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period last year, the firm earned $0.25 EPS. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. Sell-side analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA announced that its board has approved a stock buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

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

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.