Bingham Private Wealth LLC Boosts Position in NVIDIA Corporation $NVDA

Bingham Private Wealth LLC grew its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 13.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,938 shares of the computer hardware maker's stock after purchasing an additional 2,171 shares during the quarter. NVIDIA makes up about 2.0% of Bingham Private Wealth LLC's portfolio, making the stock its 6th largest position. Bingham Private Wealth LLC's holdings in NVIDIA were worth $1,944,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Condor Capital Management boosted its stake in shares of NVIDIA by 3.6% during the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock valued at $344,000 after purchasing an additional 89 shares in the last quarter. High Note Wealth LLC increased its position in shares of NVIDIA by 0.5% during the 1st quarter. High Note Wealth LLC now owns 17,873 shares of the computer hardware maker's stock valued at $1,937,000 after purchasing an additional 91 shares during the last quarter. Kelly Financial Services LLC increased its position in shares of NVIDIA by 2.0% during the 1st quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock valued at $513,000 after purchasing an additional 94 shares during the last quarter. Mendel Capital Management LLC raised its stake in NVIDIA by 0.8% during the 1st quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock worth $1,287,000 after acquiring an additional 96 shares during the period. Finally, Affiance Financial LLC raised its position in shares of NVIDIA by 0.7% during the first quarter. Affiance Financial LLC now owns 13,651 shares of the computer hardware maker's stock valued at $1,479,000 after buying an additional 97 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the sale, the executive vice president owned 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,837,440 shares of company stock valued at $889,404,782. 4.17% of the stock is owned by corporate insiders.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $180.45 on Monday. The stock has a market cap of $4.40 trillion, a P/E ratio of 58.21, a P/E/G ratio of 1.59 and a beta of 2.14. 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 stock has a 50 day moving average of $163.96 and a two-hundred day moving average of $135.52. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $184.48.

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 for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The business 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%. The company's revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.61 EPS. On average, research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. NVIDIA's dividend payout ratio is 1.29%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NVDA. Morgan Stanley boosted their price target on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Rosenblatt Securities boosted their target price on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Bank of America upped their price objective on shares of NVIDIA from $180.00 to $220.00 in a report on Wednesday, July 16th. Benchmark restated a "buy" rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Oppenheimer increased their target price on NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, NVIDIA presently has a consensus rating of "Moderate Buy" and an average price target of $186.33.

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.

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