CloudAlpha Capital Management Limited Hong Kong Sells 509,186 Shares of NVIDIA Corporation $NVDA

CloudAlpha Capital Management Limited Hong Kong reduced its stake in NVIDIA Corporation (NASDAQ:NVDA) by 56.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 385,314 shares of the computer hardware maker’s stock after selling 509,186 shares during the quarter. NVIDIA comprises 3.2% of CloudAlpha Capital Management Limited Hong Kong’s investment portfolio, making the stock its 6th largest position. CloudAlpha Capital Management Limited Hong Kong’s holdings in NVIDIA were worth $60,876,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Harbor Asset Planning Inc. bought a new stake in NVIDIA in the 2nd quarter valued at approximately $28,000. Kathleen S. Wright Associates Inc. grew its stake in shares of NVIDIA by 169.3% during the 1st quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock worth $44,000 after acquiring an additional 254 shares in the last quarter. Legend Financial Advisors Inc. acquired a new stake in shares of NVIDIA in the second quarter valued at approximately $55,000. Campbell Capital Management Inc. lifted its position in shares of NVIDIA by 5,900.0% in the first quarter. Campbell Capital Management Inc. now owns 600 shares of the computer hardware maker’s stock worth $65,000 after purchasing an additional 590 shares in the last quarter. Finally, Westend Capital Management LLC boosted its holdings in NVIDIA by 46.8% during the second quarter. Westend Capital Management LLC now owns 455 shares of the computer hardware maker’s stock worth $72,000 after purchasing an additional 145 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Harvey C. Jones sold 250,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $176.21, for a total transaction of $44,052,500.00. Following the completion of the sale, the director directly owned 7,183,280 shares in the company, valued at $1,265,765,768.80. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 350,000 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $176.39, for a total value of $61,736,500.00. Following the completion of the transaction, the director directly owned 7,399,803 shares in the company, valued at $1,305,251,251.17. The trade was a 4.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,937,203 shares of company stock valued at $529,264,894 in the last three months. 4.17% of the stock is currently owned by company insiders.

NVIDIA Stock Down 1.0%

NVDA stock opened at $179.59 on Thursday. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $212.19. The business’s 50 day simple moving average is $186.94 and its 200 day simple moving average is $171.41. The company has a current ratio of 4.47, a quick ratio of 3.71 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $4.36 trillion, a PE ratio of 44.56, a PEG ratio of 0.89 and a beta of 2.29.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 19th. The computer hardware maker reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.07. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. The firm had revenue of $57.01 billion during the quarter, compared to analysts’ expectations of $54.66 billion. During the same period in the previous year, the business posted $0.81 earnings per share. The company’s revenue for the quarter was up 62.5% compared to the same quarter last year. As a group, research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Thursday, December 4th will be paid a $0.01 dividend. The ex-dividend date is Thursday, December 4th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. NVIDIA’s dividend payout ratio is 0.99%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Bank of America lifted their price target on shares of NVIDIA from $235.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. S&P Equity Research reaffirmed a “positive” rating on shares of NVIDIA in a research report on Wednesday, October 22nd. HSBC set a $320.00 price target on NVIDIA and gave the company a “buy” rating in a research report on Wednesday, October 15th. Oppenheimer reaffirmed an “outperform” rating and set a $265.00 price target on shares of NVIDIA in a research report on Thursday, November 20th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price objective on shares of NVIDIA in a report on Thursday, November 20th. Five research analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $258.65.

NVIDIA 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.