AlphaCentric Advisors LLC Has $742,000 Stake in NVIDIA Co. (NASDAQ:NVDA)

AlphaCentric Advisors LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 8,736.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,009 shares of the computer hardware maker’s stock after buying an additional 5,941 shares during the period. AlphaCentric Advisors LLC’s holdings in NVIDIA were worth $742,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

NVDA has been the subject of several recent research reports. Susquehanna boosted their target price on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a research report on Monday, June 10th. Rosenblatt Securities reissued a “buy” rating and set a $200.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Mizuho boosted their target price on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. UBS Group boosted their target price on shares of NVIDIA from $120.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Finally, Evercore ISI boosted their target price on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Five analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $142.10.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $111.83, for a total transaction of $13,419,600.00. Following the sale, the chief executive officer now owns 75,655,836 shares of the company’s stock, valued at approximately $8,460,592,139.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $128.17, for a total value of $576,765.00. Following the transaction, the insider now owns 503,878 shares of the company’s stock, valued at approximately $64,582,043.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $111.83, for a total transaction of $13,419,600.00. Following the completion of the transaction, the chief executive officer now directly owns 75,655,836 shares in the company, valued at approximately $8,460,592,139.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,845,633 shares of company stock valued at $465,330,122. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $115.59 on Wednesday. The stock has a market capitalization of $2.84 trillion, a P/E ratio of 67.60, a PEG ratio of 1.06 and a beta of 1.67. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm’s 50 day moving average is $116.88 and its 200 day moving average is $106.63. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.76.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s revenue was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 EPS. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.64 earnings per share for the current year.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

NVIDIA declared that its Board of Directors has approved a share buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.