Alpha Wealth Funds LLC Takes $819,000 Position in NVIDIA Co. (NASDAQ:NVDA)

Alpha Wealth Funds LLC acquired a new stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,096 shares of the computer hardware maker's stock, valued at approximately $819,000. NVIDIA comprises 0.8% of Alpha Wealth Funds LLC's portfolio, making the stock its 23rd biggest position.

Other hedge funds have also made changes to their positions in the company. Tacita Capital Inc purchased a new position in NVIDIA during the 4th quarter worth approximately $28,000. Vision Financial Markets LLC purchased a new position in NVIDIA during the 4th quarter worth approximately $38,000. Luken Investment Analytics LLC purchased a new position in NVIDIA during the 4th quarter worth approximately $40,000. Copia Wealth Management purchased a new position in NVIDIA during the 4th quarter worth approximately $50,000. Finally, LSV Asset Management purchased a new position in NVIDIA during the 4th quarter worth approximately $54,000. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $141.72 on Friday. The stock has a fifty day moving average price of $118.45 and a 200 day moving average price of $126.38. The stock has a market cap of $3.46 trillion, a PE ratio of 55.77, a P/E/G ratio of 1.76 and a beta of 2.12. NVIDIA Co. has a 1 year low of $86.62 and a 1 year high of $195.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 earnings per share. Sell-side analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be issued a dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA's dividend payout ratio is presently 1.29%.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of research reports. UBS Group restated a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Susquehanna restated a "positive" rating and set a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Bank of America raised their price target on NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. KeyCorp set a $190.00 price objective on NVIDIA in a research report on Wednesday, March 19th. Finally, Summit Insights raised NVIDIA from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $171.66.

Insider Buying and Selling

In related news, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the transaction, the chief financial officer now directly owns 3,085,765 shares of the company's stock, valued at approximately $360,509,924.95. The trade was a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John Dabiri sold 2,663 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now directly owns 17,279 shares of the company's stock, valued at $1,900,690. The trade was a 13.35% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,257,983 shares of company stock valued at $172,973,349. 4.17% of the stock is owned by 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.

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