Alden Global Capital LLC Makes New $24.36 Million Investment in NVIDIA Corporation $NVDA

Alden Global Capital LLC bought a new position in NVIDIA Corporation (NASDAQ:NVDA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 154,213 shares of the computer hardware maker’s stock, valued at approximately $24,364,000. NVIDIA comprises 15.0% of Alden Global Capital LLC’s portfolio, making the stock its 2nd largest position.

Other hedge funds have also modified their holdings of the company. Harbor Asset Planning Inc. acquired a new stake in shares of NVIDIA in the second quarter worth $28,000. Winnow Wealth LLC acquired a new position in shares of NVIDIA in the 2nd quarter valued at about $32,000. Longfellow Investment Management Co. LLC boosted its stake in shares of NVIDIA by 47.9% in the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock worth $33,000 after buying an additional 67 shares during the last quarter. Spurstone Advisory Services LLC acquired a new stake in NVIDIA during the second quarter worth about $40,000. Finally, Kathleen S. Wright Associates Inc. raised its position in NVIDIA by 169.3% during the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock valued at $44,000 after acquiring an additional 254 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In other news, Director Harvey C. Jones sold 250,000 shares of the business’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 value of $44,052,500.00. Following the sale, the director directly owned 7,183,280 shares of the company’s stock, valued at approximately $1,265,765,768.80. The trade was a 3.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $176.96, for a total value of $13,272,000.00. Following the transaction, the chief executive officer owned 71,308,203 shares of the company’s stock, valued at approximately $12,618,699,602.88. This represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 2,829,474 shares of company stock worth $512,805,367. 4.17% of the stock is owned by corporate insiders.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $175.02 on Friday. The firm has a 50-day simple moving average of $186.69 and a 200-day simple moving average of $173.54. The company has a quick ratio of 3.71, a current ratio of 4.47 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $4.25 trillion, a price-to-earnings ratio of 43.43, a price-to-earnings-growth ratio of 0.89 and a beta of 2.29. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $212.19.

NVIDIA (NASDAQ:NVDA) last announced 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 return on equity of 99.24% and a net margin of 53.01%.The firm had revenue of $57.01 billion for the quarter, compared to the consensus estimate of $54.66 billion. During the same quarter last year, the business posted $0.81 earnings per share. The firm’s revenue was up 62.5% compared to the same quarter last year. On average, equities analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Thursday, December 4th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend is Thursday, December 4th. NVIDIA’s dividend payout ratio (DPR) is 0.99%.

Analysts Set New Price Targets

Several research firms recently commented on NVDA. New Street Research restated a “buy” rating and set a $307.00 price target on shares of NVIDIA in a research report on Thursday, October 30th. Benchmark upped their price objective on shares of NVIDIA from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. HSBC set a $320.00 target price on NVIDIA and gave the company a “buy” rating in a research report on Wednesday, October 15th. Daiwa Capital Markets lifted their price target on NVIDIA from $165.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Finally, Morgan Stanley increased their price target on NVIDIA from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, December 1st. Four analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $258.65.

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.