Core Alternative Capital Has $341,000 Stake in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 1st, 2023

Core Alternative Capital boosted its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 33.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,228 shares of the computer hardware maker’s stock after purchasing an additional 306 shares during the quarter. Core Alternative Capital’s holdings in NVIDIA were worth $341,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NVDA. GoalVest Advisory LLC raised its position in shares of NVIDIA by 124.1% in the 4th quarter. GoalVest Advisory LLC now owns 195 shares of the computer hardware maker’s stock valued at $28,000 after buying an additional 108 shares in the last quarter. Contravisory Investment Management Inc. acquired a new position in shares of NVIDIA in the 1st quarter valued at approximately $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in shares of NVIDIA during the 4th quarter valued at approximately $34,000. Financial Connections Group Inc. grew its holdings in shares of NVIDIA by 605.7% during the 4th quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock valued at $36,000 after purchasing an additional 212 shares during the last quarter. Finally, NewSquare Capital LLC bought a new stake in shares of NVIDIA during the 4th quarter valued at approximately $37,000. 64.00% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the transaction, the executive vice president now owns 139,860 shares in the company, valued at $42,657,300. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the transaction, the executive vice president now owns 139,860 shares in the company, valued at $42,657,300. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 6,124 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $406.51, for a total transaction of $2,489,467.24. Following the transaction, the chief financial officer now owns 538,745 shares in the company, valued at approximately $219,005,229.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 368,271 shares of company stock worth $147,115,953. Insiders own 3.99% of the company’s stock.

NVIDIA Stock Up 3.6 %

NVIDIA stock opened at $423.02 on Friday. The company has a quick ratio of 2.79, a current ratio of 3.43 and a debt-to-equity ratio of 0.40. NVIDIA Co. has a 12-month low of $108.13 and a 12-month high of $439.90. The firm’s fifty day moving average is $351.89 and its 200 day moving average is $262.71. The company has a market capitalization of $1.04 trillion, a PE ratio of 220.32, a PEG ratio of 2.83 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA – Free Report) last released its quarterly earnings data on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.17. NVIDIA had a net margin of 18.52% and a return on equity of 23.63%. The firm had revenue of $7.19 billion for the quarter, compared to the consensus estimate of $6.52 billion. During the same quarter in the prior year, the company posted $1.18 earnings per share. The business’s revenue was down 13.2% on a year-over-year basis. As a group, sell-side analysts predict that NVIDIA Co. will post 6.31 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 8th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $0.16 annualized dividend and a yield of 0.04%. NVIDIA’s payout ratio is 8.33%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NVDA. Tigress Financial lifted their price target on shares of NVIDIA from $250.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, March 30th. Citigroup lifted their price target on shares of NVIDIA from $363.00 to $420.00 in a report on Thursday, May 25th. Bank of America lifted their price target on shares of NVIDIA from $450.00 to $500.00 in a report on Wednesday, May 31st. Truist Financial lifted their price target on shares of NVIDIA from $322.00 to $470.00 in a report on Thursday, May 25th. Finally, TD Cowen boosted their target price on shares of NVIDIA from $260.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, March 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $392.70.

NVIDIA Profile

(Free Report)

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.