Alta Wealth Advisors LLC Has $7.73 Million Stake in NVIDIA Corporation (NASDAQ:NVDA)

Alta Wealth Advisors LLC boosted its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 71,356 shares of the computer hardware maker's stock after purchasing an additional 2,409 shares during the quarter. NVIDIA comprises 3.6% of Alta Wealth Advisors LLC's portfolio, making the stock its 4th largest position. Alta Wealth Advisors LLC's holdings in NVIDIA were worth $7,734,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. FMR LLC grew its stake in shares of NVIDIA by 0.7% in the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock worth $134,877,735,000 after acquiring an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after acquiring an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after acquiring an additional 3,721,331 shares during the period. Norges Bank acquired a new stake in shares of NVIDIA in the fourth quarter valued at $43,515,504,000. Finally, Northern Trust Corp increased its stake in shares of NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after buying an additional 36,266,817 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Down 0.7%

Shares of NVDA stock traded down $1.13 during trading hours on Monday, reaching $171.28. The company had a trading volume of 97,455,236 shares, compared to its average volume of 263,384,846. The business has a fifty day simple moving average of $146.99 and a 200-day simple moving average of $129.81. The company has a market cap of $4.18 trillion, a price-to-earnings ratio of 55.25, a price-to-earnings-growth ratio of 1.52 and a beta of 2.13. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $174.25. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period last year, the business earned $0.61 EPS. The firm's quarterly revenue was up 69.2% on a year-over-year basis. On average, research analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. NVIDIA's payout ratio is 1.29%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Piper Sandler reissued an "overweight" rating and set a $180.00 target price (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Cantor Fitzgerald restated an "overweight" rating and set a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, April 16th. HSBC cut NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a research note on Thursday, April 3rd. Morgan Stanley reaffirmed an "overweight" rating and set a $170.00 target price (up from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Rosenblatt Securities lifted their target price on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $181.22.

Insider Transactions at NVIDIA

In related news, CFO Colette Kress sold 27,650 shares of NVIDIA stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the sale, the chief financial officer owned 2,984,516 shares of the company's stock, valued at $510,023,939.24. The trade was a 0.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director A Brooke Seawell sold 48,792 shares of the business's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the completion of the sale, the director directly owned 1,729,478 shares of the company's stock, valued at $283,565,212.88. The trade was a 2.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,964,800 shares of company stock worth $734,906,003 in the last 90 days. Insiders own 4.17% of the company's stock.

About NVIDIA

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.