Midwestern Financial LLC IA Makes New Investment in NVIDIA Corporation $NVDA

Midwestern Financial LLC IA acquired a new position in shares of NVIDIA Corporation (NASDAQ:NVDA) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 8,699 shares of the computer hardware maker’s stock, valued at approximately $1,374,000. NVIDIA makes up about 1.3% of Midwestern Financial LLC IA’s portfolio, making the stock its 24th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbor Asset Planning Inc. bought a new position in NVIDIA during the second quarter valued at $28,000. Winnow Wealth LLC purchased a new stake in shares of NVIDIA during the 2nd quarter valued at about $32,000. Longfellow Investment Management Co. LLC lifted its holdings in shares of NVIDIA by 47.9% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock valued at $33,000 after acquiring an additional 67 shares during the last quarter. Spurstone Advisory Services LLC purchased a new position in NVIDIA in the second quarter worth about $40,000. Finally, EDENTREE ASSET MANAGEMENT Ltd bought a new stake in NVIDIA during the second quarter worth approximately $54,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Trading Up 0.7%

NVDA stock opened at $176.29 on Tuesday. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $212.19. The firm’s 50-day moving average is $186.51 and its 200 day moving average is $174.35. The company has a market capitalization of $4.28 trillion, a PE ratio of 43.74, a P/E/G 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 released its quarterly earnings data on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.07. The company had revenue of $57.01 billion during the quarter, compared to analysts’ expectations of $54.66 billion. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. The firm’s quarterly revenue was up 62.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.81 EPS. On average, research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

Analyst Ratings Changes

NVDA has been the subject of several analyst reports. TD Cowen raised their price objective on NVIDIA from $140.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, August 19th. HSBC set a $320.00 price target on NVIDIA and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Truist Financial boosted their price objective on shares of NVIDIA from $228.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. Loop Capital increased their target price on shares of NVIDIA from $250.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Finally, Morgan Stanley lifted their price target on shares of NVIDIA from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, December 1st. Four equities research analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Buy” and a consensus target price of $258.65.

Insider Transactions at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Monday, September 29th. The stock was sold at an average price of $182.34, for a total transaction of $13,675,500.00. Following the completion of the sale, the chief executive officer directly owned 71,158,203 shares of the company’s stock, valued at $12,974,986,735.02. The trade was a 0.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Debora Shoquist sold 80,000 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $184.65, for a total value of $14,772,000.00. Following the transaction, the executive vice president directly owned 1,574,443 shares in the company, valued at $290,720,899.95. The trade was a 4.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 2,754,474 shares of company stock valued at $499,562,617. Company insiders own 4.17% of the company’s stock.

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.