NVIDIA Corporation (NASDAQ:NVDA) Shares Purchased by AlphaStar Capital Management LLC

Key Points

• AlphaStar Capital Management LLC increased its position in NVIDIA shares by 8.8%, owning a total of 155,826 shares worth approximately $16.89 million, making it the 12th largest position in their investment portfolio.
• NVIDIA's CEO, Jen Hsun Huang, sold 75,000 shares for over $11.44 million, while Director Tench Coxe sold 1,000,000 shares valued at approximately $142.8 million, indicating significant insider trading activity.
• Despite strong revenue growth of 69.2% year-over-year to $44.06 billion, NVIDIA's latest earnings report showed an EPS of $0.81, missing estimates by $0.06.

AlphaStar Capital Management LLC increased its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 8.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 155,826 shares of the computer hardware maker's stock after acquiring an additional 12,635 shares during the period. NVIDIA makes up about 2.0% of AlphaStar Capital Management LLC's investment portfolio, making the stock its 12th largest position. AlphaStar Capital Management LLC's holdings in NVIDIA were worth $16,888,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Tacita Capital Inc purchased a new position in NVIDIA in the 4th quarter worth about $28,000. Vision Financial Markets LLC purchased a new position in NVIDIA in the 4th quarter worth about $38,000. Copia Wealth Management purchased a new position in NVIDIA in the 4th quarter worth about $50,000. LSV Asset Management purchased a new position in NVIDIA in the 4th quarter worth about $54,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in NVIDIA in the 1st quarter worth about $51,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the transaction, the chief executive officer directly owned 75,548,225 shares in the company, valued at $11,524,126,241.50. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the transaction, the director owned 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,339,800 shares of company stock valued at $800,141,003 in the last three months. 4.17% of the stock is owned by corporate insiders.

NVIDIA Stock Down 2.3%

Shares of NVDA stock opened at $173.72 on Friday. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $183.30. The firm has a market cap of $4.24 trillion, a PE ratio of 56.04, a price-to-earnings-growth ratio of 1.53 and a beta of 2.14. The stock has a 50 day moving average of $155.30 and a 200-day moving average of $132.29. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

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

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were issued a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA's payout ratio is 1.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NVDA shares. Wedbush reissued an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Benchmark reaffirmed a "buy" rating and set a $190.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. Needham & Company LLC lifted their target price on NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, Barclays lifted their target price on NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA has a consensus rating of "Moderate Buy" and an average price target of $182.03.

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.

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