MQS Management LLC Takes Position in NVIDIA Co. (NASDAQ:NVDA)

MQS Management LLC acquired a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,191 shares of the computer hardware maker’s stock, valued at approximately $394,000.

Other hedge funds also recently bought and sold shares of the company. FPC Investment Advisory Inc. bought a new position in NVIDIA in the first quarter worth $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA during the first quarter valued at $27,000. HBC Financial Services PLLC bought a new position in NVIDIA in the 1st quarter worth about $30,000. Norwood Financial Corp bought a new stake in NVIDIA during the 1st quarter valued at about $45,000. Finally, Coston McIsaac & Partners lifted its stake in shares of NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after buying an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 2.8 %

Shares of NASDAQ:NVDA opened at $139.56 on Thursday. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $144.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The firm has a market capitalization of $3.42 trillion, a PE ratio of 65.46, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67. The business has a 50 day simple moving average of $123.56 and a two-hundred day simple moving average of $113.50.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 earnings per share. On average, equities analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA declared that its Board of Directors has initiated a stock buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $113.54, for a total value of $13,624,800.00. Following the sale, the chief executive officer now directly owns 77,814,995 shares in the company, valued at approximately $8,835,114,532.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $113.54, for a total transaction of $13,624,800.00. Following the sale, the chief executive officer now directly owns 77,814,995 shares in the company, valued at $8,835,114,532.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,756,270 shares of company stock valued at $318,992,727. 4.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NVDA shares. Evercore ISI upped their price target on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. DA Davidson reaffirmed a “neutral” rating and set a $90.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Mizuho boosted their price target on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, HSBC upped their price target on shares of NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average target price of $143.07.

About NVIDIA

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.