NVIDIA Corporation (NASDAQ:NVDA) is BluePointe Capital Management LLC's 5th Largest Position

Key Points

• BluePointe Capital Management LLC has increased its stake in NVIDIA Corporation by 273.0%, making it the firm's 5th largest position with a total of 97,500 shares valued at approximately $10.57 million.
• NVIDIA reported a quarterly earnings miss of $0.81 EPS, falling short of the $0.87 expected by analysts, although its revenue rose significantly to $44.06 billion, surpassing estimates.
• The company's stock has recently been rated positively by analysts, with several raising their price targets to between $175.00 and $200.00, indicating a consensus rating of "Moderate Buy."

BluePointe Capital Management LLC boosted its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 273.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,500 shares of the computer hardware maker's stock after purchasing an additional 71,359 shares during the period. NVIDIA comprises approximately 4.0% of BluePointe Capital Management LLC's holdings, making the stock its 5th largest holding. BluePointe Capital Management LLC's holdings in NVIDIA were worth $10,568,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of NVIDIA in the 4th quarter worth approximately $43,515,504,000. GAMMA Investing LLC grew its stake in NVIDIA by 12,173.2% in the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock worth $5,293,039,000 after purchasing an additional 48,439,859 shares during the period. Northern Trust Corp grew its stake in NVIDIA by 15.8% in the fourth 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 during the period. Assenagon Asset Management S.A. grew its stake in NVIDIA by 204.6% in the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock worth $3,864,026,000 after purchasing an additional 23,948,733 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in NVIDIA in the fourth quarter worth $2,987,733,000. Institutional investors own 65.27% of the company's stock.

NVIDIA Stock Up 1.1%

Shares of NVDA stock opened at $182.67 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA Corporation has a one year low of $86.62 and a one year high of $183.88. The company's fifty day moving average price is $159.82 and its 200-day moving average price is $133.62. The company has a market capitalization of $4.46 trillion, a price-to-earnings ratio of 58.93, a PEG ratio of 1.61 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS 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 the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA's revenue was up 69.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.61 earnings per share. Sell-side analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently issued reports on NVDA shares. TD Cowen increased their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Barclays increased their price target on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. Raymond James Financial increased their price target on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research note on Thursday, May 29th. Finally, Rosenblatt Securities increased their price target on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. One investment 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $183.75.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Friday, August 8th. The shares were sold at an average price of $182.38, for a total value of $13,678,500.00. Following the sale, the chief executive officer directly owned 73,223,225 shares in the company, valued at approximately $13,354,451,775.50. The trade was a 0.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 27,640 shares of NVIDIA stock in a transaction on Monday, August 4th. The shares were sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the completion of the sale, the chief financial officer owned 2,956,876 shares in the company, valued at approximately $526,501,340.56. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,687,440 shares of company stock valued at $862,095,782. Insiders own 4.17% of the company's stock.

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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