MYDA Advisors LLC Buys Shares of 20,000 NVIDIA Corporation $NVDA

Key Points

• MYDA Advisors LLC opened a new position in NVIDIA during the fourth quarter, buying 20,000 shares valued at about $3.73 million.
• Other institutional investors also increased exposure to NVIDIA, and the article says 65.27% of the stock is currently owned by institutions.
• NVIDIA continues to show strong fundamentals, with its latest quarter beating estimates on both earnings and revenue, while the board authorized an $80 billion buyback and raised the quarterly dividend to $0.25 per share.

MYDA Advisors LLC bought a new stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 20,000 shares of the computer hardware maker's stock, valued at approximately $3,730,000.

A number of other hedge funds also recently made changes to their positions in the stock. Mariner LLC raised its position in shares of NVIDIA by 20.5% during the fourth quarter. Mariner LLC now owns 25,485,060 shares of the computer hardware maker's stock worth $4,753,173,000 after acquiring an additional 4,339,343 shares during the last quarter. Minot DeBlois Advisors LLC raised its position in shares of NVIDIA by 10.7% during the fourth quarter. Minot DeBlois Advisors LLC now owns 16,044 shares of the computer hardware maker's stock worth $2,992,000 after acquiring an additional 1,546 shares during the last quarter. Nicolet Advisory Services LLC raised its position in shares of NVIDIA by 19.7% during the fourth quarter. Nicolet Advisory Services LLC now owns 117,178 shares of the computer hardware maker's stock worth $21,671,000 after acquiring an additional 19,323 shares during the last quarter. Niles Investment Management LLC bought a new position in shares of NVIDIA during the fourth quarter worth about $9,253,000. Finally, Fifth Lane Capital LP raised its position in shares of NVIDIA by 10.0% during the fourth quarter. Fifth Lane Capital LP now owns 5,500 shares of the computer hardware maker's stock worth $1,026,000 after acquiring an additional 500 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Trending Headlines about NVIDIA

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: NVIDIA said it plans to raise about $20 billion through its first U.S. investment-grade bond offering since 2021. Investors appear to view the move as a sign of confidence in future cash flows and a way to fund massive AI-chip and infrastructure investments without stressing the balance sheet. Reuters article
• Positive Sentiment: The bond-sale news also reinforced the view that demand for NVIDIA’s AI hardware remains extremely strong, since the company is tapping debt markets to help meet capital needs tied to its AI leadership. CNBC article
• Positive Sentiment: Shares also benefited from a broader semiconductor and tech rally, with chip stocks and AI names trading strongly after improved market sentiment and reports of easing geopolitical tensions. 247WallSt article

NVIDIA Trading Up 3.5%

Shares of NVIDIA stock opened at $212.45 on Tuesday. The stock has a market capitalization of $5.14 trillion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 0.46 and a beta of 2.22. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.85 and a current ratio of 3.44. NVIDIA Corporation has a 52 week low of $142.03 and a 52 week high of $236.54. The stock has a 50 day moving average price of $207.54 and a two-hundred day moving average price of $191.65.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.11. The company had revenue of $81.62 billion for the quarter, compared to analysts' expectations of $78.42 billion. NVIDIA had a return on equity of 96.94% and a net margin of 62.97%.NVIDIA's quarterly revenue was up 85.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 earnings per share. As a group, equities analysts anticipate that NVIDIA Corporation will post 8.65 earnings per share for the current fiscal year.

NVIDIA declared that its board has authorized a stock buyback program on Wednesday, May 20th that allows the company to repurchase $80.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to buy up to 1.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its shares are undervalued.

NVIDIA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Thursday, June 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, June 4th. This is a positive change from NVIDIA's previous quarterly dividend of $0.01. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. NVIDIA's payout ratio is presently 15.31%.

Insider Activity at NVIDIA

In related news, Director Aarti S. Shah sold 19,000 shares of NVIDIA stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $176.71, for a total transaction of $3,357,490.00. Following the transaction, the director owned 36,007 shares of the company's stock, valued at $6,362,796.97. The trade was a 34.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ajay K. Puri sold 300,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $182.25, for a total value of $54,675,000.00. Following the transaction, the executive vice president directly owned 3,018,547 shares in the company, valued at approximately $550,130,190.75. The trade was a 9.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,619,457 shares of company stock valued at $332,073,643 over the last 90 days. Corporate insiders own 3.94% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NVDA. Citic Securities raised their price objective on NVIDIA from $242.00 to $315.00 and gave the stock a "buy" rating in a research report on Friday, May 22nd. Zacks Research downgraded NVIDIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Rosenblatt Securities reiterated a "buy" rating and issued a $325.00 target price on shares of NVIDIA in a report on Thursday, May 21st. President Capital lifted their target price on NVIDIA from $280.00 to $295.00 and gave the stock a "buy" rating in a report on Thursday, May 21st. Finally, William Blair reiterated an "outperform" rating on shares of NVIDIA in a report on Tuesday, June 2nd. Three analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $305.67.

NVIDIA Company Profile

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company's product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.