BLVD Private Wealth LLC Invests $1.43 Million in NVIDIA Corporation $NVDA

BLVD Private Wealth LLC purchased a new position in shares of NVIDIA Corporation (NASDAQ:NVDA) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,041 shares of the computer hardware maker’s stock, valued at approximately $1,428,000. NVIDIA comprises about 1.3% of BLVD Private Wealth LLC’s holdings, making the stock its 21st largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC grew its stake in shares of NVIDIA by 267,959.7% during the second quarter. Kingstone Capital Partners Texas LLC now owns 382,373,765 shares of the computer hardware maker’s stock worth $64,976,521,000 after purchasing an additional 382,231,120 shares during the period. Norges Bank bought a new position in NVIDIA during the second quarter worth about $51,386,863,000. Nuveen LLC bought a new position in NVIDIA during the first quarter worth about $15,089,414,000. Goldman Sachs Group Inc. grew its position in shares of NVIDIA by 123.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 187,995,213 shares of the computer hardware maker’s stock worth $20,374,921,000 after buying an additional 103,889,872 shares during the period. Finally, Laurel Wealth Advisors LLC increased its stake in shares of NVIDIA by 15,496.1% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 21,865,525 shares of the computer hardware maker’s stock valued at $3,454,534,000 after acquiring an additional 21,725,326 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NVDA shares. Susquehanna lifted their price objective on shares of NVIDIA from $230.00 to $250.00 and gave the stock a “positive” rating in a research note on Thursday, November 20th. CICC Research increased their target price on shares of NVIDIA from $200.00 to $228.00 and gave the stock an “outperform” rating in a report on Friday, November 21st. BNP Paribas Exane boosted their price target on shares of NVIDIA from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, November 18th. Rothschild & Co Redburn upped their price objective on shares of NVIDIA from $211.00 to $245.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Finally, Zacks Research upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Monday, November 24th. Four research analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $258.65.

Insider Activity at NVIDIA

In other NVIDIA news, Director A Brooke Seawell sold 12,728 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $183.93, for a total transaction of $2,341,061.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Dabiri sold 626 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $179.42, for a total transaction of $112,316.92. Following the completion of the sale, the director owned 17,792 shares of the company’s stock, valued at approximately $3,192,240.64. This represents a 3.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 2,754,474 shares of company stock worth $499,562,617. Insiders own 4.17% of the company’s stock.

NVIDIA Trading Down 3.3%

Shares of NASDAQ:NVDA opened at $175.02 on Monday. The company’s 50-day moving average price is $186.69 and its two-hundred day moving average price is $174.09. NVIDIA Corporation has a one year low of $86.62 and a one year high of $212.19. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.47 and a quick ratio of 3.71. The stock has a market capitalization 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.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.07. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.The company had revenue of $57.01 billion during the quarter, compared to analysts’ expectations of $54.66 billion. During the same quarter last year, the company earned $0.81 EPS. NVIDIA’s revenue for the quarter was up 62.5% compared to the same quarter last year. On average, equities analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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