BLVD Private Wealth LLC Buys New Position in NVIDIA Corporation $NVDA

BLVD Private Wealth LLC purchased a new position in NVIDIA Corporation (NASDAQ:NVDA) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 9,041 shares of the computer hardware maker’s stock, valued at approximately $1,428,000. NVIDIA accounts for 1.3% of BLVD Private Wealth LLC’s holdings, making the stock its 21st largest position.

Several other hedge funds also recently modified their holdings of NVDA. Brighton Jones LLC lifted its position in shares of NVIDIA by 12.4% in the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock worth $43,631,000 after acquiring an additional 35,815 shares during the period. Bank Pictet & Cie Europe AG raised its stake in shares of NVIDIA by 1.0% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker’s stock valued at $315,100,000 after purchasing an additional 22,929 shares in the last quarter. Highview Capital Management LLC DE lifted its position in NVIDIA by 6.7% in the fourth quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker’s stock worth $7,842,000 after purchasing an additional 3,653 shares during the period. Hudson Value Partners LLC boosted its stake in NVIDIA by 30.7% during the fourth quarter. Hudson Value Partners LLC now owns 50,658 shares of the computer hardware maker’s stock worth $6,805,000 after buying an additional 11,900 shares in the last quarter. Finally, Wealth Group Ltd. increased its holdings in NVIDIA by 15.7% in the 1st quarter. Wealth Group Ltd. now owns 6,598 shares of the computer hardware maker’s stock valued at $715,000 after buying an additional 896 shares during the period. 65.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NVDA shares. Rosenblatt Securities raised their price objective on shares of NVIDIA from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, November 20th. Oppenheimer reissued an “outperform” rating and issued a $265.00 price target on shares of NVIDIA in a research report on Thursday, November 20th. Argus reaffirmed a “buy” rating and set a $220.00 price objective on shares of NVIDIA in a report on Thursday, November 20th. Barclays upped their price objective on NVIDIA from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. Finally, Truist Financial raised their target price on NVIDIA from $228.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Buy” and an average target price of $258.65.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 30,500 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $178.11, for a total transaction of $5,432,355.00. Following the transaction, the chief financial officer directly owned 1,286,826 shares in the company, valued at approximately $229,196,578.86. This represents a 2.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Debora Shoquist sold 69,840 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $177.85, for a total transaction of $12,421,044.00. Following the sale, the executive vice president directly owned 1,424,603 shares in the company, valued at $253,365,643.55. This trade represents a 4.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 2,754,474 shares of company stock worth $499,562,617. Corporate insiders own 4.17% of the company’s stock.

NVIDIA Stock Down 3.3%

NASDAQ NVDA opened at $175.02 on Monday. The stock’s 50 day simple moving average is $186.69 and its 200 day simple moving average is $174.09. NVIDIA Corporation has a one year low of $86.62 and a one year high of $212.19. The firm has a market cap of $4.25 trillion, a PE ratio of 43.43, a price-to-earnings-growth ratio of 0.86 and a beta of 2.29. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.47 and a quick ratio of 3.71.

NVIDIA (NASDAQ:NVDA) last posted 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. The company had revenue of $57.01 billion for the quarter, compared to analyst estimates of $54.66 billion. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.The business’s revenue was up 62.5% 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, sell-side analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

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.