Bingham Private Wealth LLC Has $1.94 Million Stake in NVIDIA Corporation $NVDA

Bingham Private Wealth LLC raised its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 13.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 17,938 shares of the computer hardware maker’s stock after purchasing an additional 2,171 shares during the period. NVIDIA accounts for about 2.0% of Bingham Private Wealth LLC’s investment portfolio, making the stock its 6th biggest holding. Bingham Private Wealth LLC’s holdings in NVIDIA were worth $1,944,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of NVDA. Astoria Portfolio Advisors LLC. lifted its position in shares of NVIDIA by 0.9% in the first quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker’s stock valued at $9,610,000 after acquiring an additional 864 shares in the last quarter. Centerpoint Advisory Group lifted its position in shares of NVIDIA by 2.5% in the first quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker’s stock worth $4,270,000 after buying an additional 943 shares in the last quarter. GSB Wealth Management LLC lifted its position in shares of NVIDIA by 3.3% in the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker’s stock worth $3,534,000 after buying an additional 1,043 shares in the last quarter. Variant Private Wealth LLC lifted its position in shares of NVIDIA by 20.6% in the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker’s stock worth $2,038,000 after buying an additional 3,206 shares in the last quarter. Finally, Financial Perspectives Inc raised its position in NVIDIA by 2.8% during the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker’s stock valued at $4,981,000 after purchasing an additional 1,265 shares during the period. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NVDA shares. Truist Financial upped their price objective on NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Mizuho upped their target price on NVIDIA from $192.00 to $205.00 and gave the company an “outperform” rating in a research note on Thursday. Rosenblatt Securities upped their target price on NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. Needham & Company LLC upped their target price on NVIDIA from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Finally, The Goldman Sachs Group started coverage on NVIDIA in a research note on Thursday, July 10th. They issued a “buy” rating and a $185.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $186.33.

NVIDIA Stock Down 0.9%

Shares of NVDA stock opened at $180.45 on Monday. The stock’s 50-day simple moving average is $163.96 and its 200-day simple moving average is $135.52. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The firm has a market capitalization of $4.40 trillion, a PE ratio of 58.21, a P/E/G ratio of 1.59 and a beta of 2.14. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $184.48.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 earnings per share. Equities analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. NVIDIA’s dividend payout ratio (DPR) is currently 1.29%.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the transaction, the chief executive officer directly owned 75,548,225 shares of the company’s stock, valued at $11,524,126,241.50. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director directly owned 26,671,360 shares in the company, valued at $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,837,440 shares of company stock valued at $889,404,782. 4.17% of the stock is owned by corporate insiders.

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.