NVIDIA Co. (NASDAQ:NVDA) Stake Lessened by Altfest L J & Co. Inc.

Altfest L J & Co. Inc. lessened its stake in NVIDIA Co. (NASDAQ:NVDA) by 15.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,664 shares of the computer hardware maker’s stock after selling 483 shares during the period. Altfest L J & Co. Inc.’s holdings in NVIDIA were worth $1,127,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Heritage Wealth Advisors increased its stake in shares of NVIDIA by 93.2% in the second quarter. Heritage Wealth Advisors now owns 7,605 shares of the computer hardware maker’s stock worth $3,217,000 after buying an additional 3,668 shares during the last quarter. Highland Capital Management LLC increased its stake in shares of NVIDIA by 18.3% in the second quarter. Highland Capital Management LLC now owns 25,310 shares of the computer hardware maker’s stock worth $10,707,000 after buying an additional 3,924 shares during the last quarter. Montag A & Associates Inc. increased its stake in NVIDIA by 42.3% during the second quarter. Montag A & Associates Inc. now owns 6,714 shares of the computer hardware maker’s stock valued at $2,840,000 after purchasing an additional 1,995 shares during the last quarter. AdvisorShares Investments LLC bought a new stake in NVIDIA during the second quarter valued at $423,000. Finally, Lokken Investment Group LLC increased its stake in NVIDIA by 5.8% during the second quarter. Lokken Investment Group LLC now owns 799 shares of the computer hardware maker’s stock valued at $338,000 after purchasing an additional 44 shares during the last quarter. Institutional investors own 64.79% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $600.00 target price on shares of NVIDIA in a research note on Friday. Argus boosted their target price on shares of NVIDIA from $450.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, August 24th. Benchmark boosted their target price on shares of NVIDIA from $475.00 to $625.00 and gave the company a “buy” rating in a research note on Thursday, August 24th. Citigroup lowered their price target on shares of NVIDIA from $630.00 to $575.00 and set a “buy” rating for the company in a research report on Wednesday, October 18th. Finally, Wells Fargo & Company upped their price target on shares of NVIDIA from $500.00 to $600.00 and gave the stock an “overweight” rating in a research report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $571.49.

NVIDIA Price Performance

Shares of NVDA opened at $492.98 on Monday. The company has a market capitalization of $1.22 trillion, a price-to-earnings ratio of 119.08, a P/E/G ratio of 3.80 and a beta of 1.69. NVIDIA Co. has a fifty-two week low of $138.84 and a fifty-two week high of $502.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.37. The business’s 50-day moving average is $444.17 and its 200-day moving average is $424.16.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.62. The company had revenue of $13.51 billion for the quarter, compared to the consensus estimate of $11.19 billion. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. The firm’s quarterly revenue was up 101.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. Equities research analysts expect that NVIDIA Co. will post 9.66 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 7th were issued a $0.04 dividend. The ex-dividend date was Wednesday, September 6th. This represents a $0.16 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 3.86%.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 21,500 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $468.08, for a total value of $10,063,720.00. Following the transaction, the director now owns 1,030,786 shares in the company, valued at $482,490,310.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Mark A. Stevens sold 21,500 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $468.08, for a total value of $10,063,720.00. Following the transaction, the director now owns 1,030,786 shares in the company, valued at $482,490,310.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 29,688 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $486.40, for a total value of $14,440,243.20. Following the completion of the transaction, the chief executive officer now owns 7,800,125 shares in the company, valued at approximately $3,793,980,800. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,232 shares of company stock worth $67,606,089. Insiders own 3.99% of the company’s stock.

NVIDIA Profile

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.