Core Alternative Capital Increases Stake in NVIDIA Co. (NASDAQ:NVDA)

Core Alternative Capital significantly increased its investment in NVIDIA Co. (NASDAQ:NVDA) during the second quarter, raising its stake by a remarkable 878.6%. According to recent reports from Holdings Channel, the firm now owns 6,870 shares after acquiring an additional 6,168 shares in the quarter. As of the latest reporting period, Core Alternative Capital's holdings in NVIDIA are valued at approximately $849,000.

In addition to Core Alternative Capital, several other hedge funds have also adjusted their positions in NVIDIA. For instance, Lowe Wealth Advisors LLC initiated a new investment in NVIDIA during the second quarter, valued at around $25,000. Similarly, DHJJ Financial Advisors Ltd. increased its holding by 1,900.0%, now owning 200 shares valued at $25,000 after buying 190 more shares in the last quarter. Other noteworthy investments include FPC Investment Advisory Inc. and CGC Financial Services LLC, both having purchased new stakes in the company valued at approximately $26,000. Furthermore, Koesten Hirschmann & Crabtree INC. entered a new position in the first quarter worth about $27,000. Currently, institutional investors and hedge funds collectively hold 65.27% of NVIDIA's stock.

Analysts’ Perspectives on NVIDIA

Several Wall Street analysts have expressed positive outlooks for NVIDIA. HSBC raised its target price from $135.00 to $145.00 while maintaining a “buy” rating as noted in an August report. UBS Group also reiterated a “buy” rating, aiming for a $150.00 price target, with similar sentiments echoed by Morgan Stanley in an October report. Deutsche Bank Aktiengesellschaft has a “hold” rating with a target price of $100.00, while TD Cowen upgraded NVIDIA to a “strong-buy” rating in mid-September. Overall, five analysts have issued hold ratings, thirty-seven have given buy ratings, and two analysts have assigned a strong buy rating. According to MarketBeat.com data, NVIDIA's average rating stands at “Moderate Buy,” with a consensus target price of $143.07.

Recent Insider Transactions

In related news, insider Donald F. Robertson, Jr. recently sold 4,500 shares of NVIDIA stock on September 20th for an average price of $116.51, totaling around $524,295. This sale slightly adjusted his ownership to 492,409 shares, valued at approximately $57.37 million. Further, CFO Colette Kress also sold 66,670 shares on the same date for an average price of $116.59, amounting to about $7.77 million. Following this transaction, Kress owns 4,954,214 shares, estimated at roughly $577.61 million. Notably, in the last three months, insiders have sold 2,516,270 shares totaling $291.80 million. Presently, corporate insiders hold about 4.23% of NVIDIA's stock.

NVIDIA’s Stock Performance

As of the latest data, NVIDIA shares traded at $132.76. The company's stock has experienced a fifty-two week low of $39.23 and a high of $144.42. The 50-day moving average price is reported at $125.13, with a 200-day average of $115.47. NVIDIA has a market capitalization of $3.26 trillion, a price-to-earnings ratio of 62.33, and a beta of 1.67. The company shows solid financials with a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA announced its quarterly earnings on August 28th, reporting earnings per share (EPS) of $0.68, which surpassed analysts’ expectations of $0.64. Their revenue reached $30.04 billion, significantly exceeding the consensus estimate of $28.74 billion, reflecting a notable 122.4% increase compared to the prior year.

NVIDIA’s Dividend and Stock Buyback Plans

In addition to its strong performance, NVIDIA declared a quarterly dividend of $0.01 per share, paid on October 3rd to shareholders on record as of September 12th, representing an annualized dividend of $0.04. This translates to a yield of 0.03% with a dividend payout ratio (DPR) of 1.88%. Furthermore, the company has announced a significant stock repurchase program, authorized to buy back up to $50 billion worth of outstanding shares, signaling confidence from management about the stock's valuation.

NVIDIA Overview

NVIDIA Corporation is engaged in providing graphics and computing solutions globally, with products including GeForce GPUs for gaming, professional visualization solutions, automotive platforms, and software for the metaverse.

NVIDIA, investment, stocks