Beverly Hills Private Wealth LLC Has $10.36 Million Position in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Beverly Hills Private Wealth LLC reduced its holdings in NVIDIA by 7.1%, owning 95,553 shares valued at approximately $10.36 million, making it the 9th largest holding in their portfolio.
• NVIDIA's quarterly earnings report showed an EPS of $0.81, missing estimates by $0.06, while revenue increased by 69.2% year-over-year.
• Institutional investors currently hold 65.27% of NVIDIA’s stock, indicating significant interest from larger financial entities.

Beverly Hills Private Wealth LLC lessened its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 95,553 shares of the computer hardware maker's stock after selling 7,301 shares during the quarter. NVIDIA makes up 2.0% of Beverly Hills Private Wealth LLC's portfolio, making the stock its 9th largest holding. Beverly Hills Private Wealth LLC's holdings in NVIDIA were worth $10,356,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. FMR LLC increased its stake in shares of NVIDIA by 0.7% in the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock worth $134,877,735,000 after purchasing an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of NVIDIA by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock worth $74,439,273,000 after purchasing an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of NVIDIA by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares in the last quarter. Norges Bank purchased a new stake in shares of NVIDIA in the 4th quarter worth $43,515,504,000. Finally, Northern Trust Corp increased its stake in shares of NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Stock Down 2.3%

Shares of NASDAQ:NVDA opened at $173.72 on Friday. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.24 trillion, a price-to-earnings ratio of 56.04, a PEG ratio of 1.57 and a beta of 2.14. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $183.30. The company has a 50-day moving average price of $155.30 and a 200 day moving average price of $132.32.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.61 EPS. As a group, equities research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders 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 annualized dividend and a yield of 0.0%. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 27,650 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total value of $4,725,108.50. Following the completion of the sale, the chief financial officer owned 2,984,516 shares of the company's stock, valued at $510,023,939.24. This trade represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 dated Wednesday, July 30th. The stock was sold at an average price of $178.74, for a total transaction of $13,405,500.00. Following the completion of the sale, the chief executive officer directly owned 73,748,225 shares of the company's stock, valued at approximately $13,181,757,736.50. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,339,800 shares of company stock valued at $800,141,003 over the last 90 days. Insiders own 4.17% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NVDA shares. Benchmark reiterated a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. Barclays increased their price target on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. Phillip Securities upgraded NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, July 14th. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $200.00 price target on shares of NVIDIA in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have assigned a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $182.03.

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.

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