Wealth Alliance Acquires 66,988 Shares of NVIDIA Co. (NASDAQ:NVDA)

Wealth Alliance lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 881.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,591 shares of the computer hardware maker’s stock after acquiring an additional 66,988 shares during the quarter. NVIDIA makes up 1.2% of Wealth Alliance’s portfolio, making the stock its 13th biggest position. Wealth Alliance’s holdings in NVIDIA were worth $9,215,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in shares of NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in NVIDIA by 1,123.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after acquiring an additional 84,515,429 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in NVIDIA by 808.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after acquiring an additional 73,589,208 shares in the last quarter. Baillie Gifford & Co. grew its holdings in NVIDIA by 696.6% in the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock worth $10,137,521,000 after purchasing an additional 71,757,065 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of NVIDIA by 882.4% during the second quarter. American Century Companies Inc. now owns 73,648,364 shares of the computer hardware maker’s stock valued at $9,098,519,000 after purchasing an additional 66,151,750 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NVDA opened at $143.71 on Tuesday. The stock has a market capitalization of $3.53 trillion, a price-to-earnings ratio of 67.41, a PEG ratio of 1.25 and a beta of 1.67. The company has a fifty day moving average of $122.58 and a 200 day moving average of $112.92. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $143.71.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period last year, the company posted $0.25 EPS. The business’s revenue was up 122.4% on a year-over-year basis. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.88%.

NVIDIA declared that its Board of Directors has initiated a stock buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of recent research reports. DA Davidson reiterated a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Wedbush reiterated an “outperform” rating and issued a $138.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. William Blair started coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Citigroup upped their target price 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. Finally, UBS Group reissued a “buy” rating and set a $150.00 price target on shares of NVIDIA in a research report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $143.07.

Insider Buying and Selling

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,876,270 shares of company stock valued at $333,061,527 in the last ninety days. 4.23% of the stock is owned by company 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.