Alterna Wealth Management Inc. Grows Stake in NVIDIA Co. (NASDAQ:NVDA)

Alterna Wealth Management Inc. grew its position in NVIDIA Co. (NASDAQ:NVDA) by 14.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 9,744 shares of the computer hardware maker’s stock after purchasing an additional 1,200 shares during the period. NVIDIA accounts for about 1.1% of Alterna Wealth Management Inc.’s portfolio, making the stock its 23rd biggest position. Alterna Wealth Management Inc.’s holdings in NVIDIA were worth $1,309,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Christopher J. Hasenberg Inc purchased a new stake in shares of NVIDIA during the third quarter valued at $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of NVIDIA during the second quarter valued at $31,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA during the fourth quarter valued at $34,000. West Financial Advisors LLC purchased a new stake in shares of NVIDIA during the third quarter valued at $36,000. Finally, Luken Investment Analytics LLC purchased a new stake in shares of NVIDIA during the fourth quarter valued at $40,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now directly owns 480,899 shares of the company’s stock, valued at $65,056,016.72. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,107,632 shares of company stock worth $146,405,286. 4.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of research analyst reports. Morgan Stanley reissued an “overweight” rating and set a $162.00 price objective (up from $152.00) on shares of NVIDIA in a report on Wednesday. Wedbush reaffirmed an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a report on Thursday, February 20th. Evercore ISI upped their price target on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. TD Cowen upped their price target on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, UBS Group upped their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $169.62.

NVIDIA Price Performance

Shares of NVDA opened at $124.81 on Friday. NVIDIA Co. has a twelve month low of $75.61 and a twelve month high of $153.13. The firm’s fifty day simple moving average is $134.19 and its 200-day simple moving average is $132.03. The firm has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 49.12, a PEG ratio of 1.76 and a beta of 1.62. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. Equities analysts forecast that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.36%.

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.