Midwestern Financial LLC IA Buys Shares of 8,699 NVIDIA Corporation $NVDA

Midwestern Financial LLC IA purchased a new stake in shares of NVIDIA Corporation (NASDAQ:NVDA) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 8,699 shares of the computer hardware maker’s stock, valued at approximately $1,374,000. NVIDIA comprises about 1.3% of Midwestern Financial LLC IA’s portfolio, making the stock its 24th biggest holding.

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

Insiders Place Their Bets

In related news, Director Harvey C. Jones sold 250,000 shares of the company’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $176.21, for a total transaction of $44,052,500.00. Following the completion of the transaction, the director owned 7,183,280 shares in the company, valued at approximately $1,265,765,768.80. This represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 350,000 shares of the firm’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $176.39, for a total transaction of $61,736,500.00. Following the transaction, the director directly owned 7,399,803 shares of the company’s stock, valued at $1,305,251,251.17. The trade was a 4.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 2,754,474 shares of company stock valued at $499,562,617. 4.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Loop Capital upped their price target on shares of NVIDIA from $250.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. UBS Group restated a “buy” rating on shares of NVIDIA in a research report on Tuesday, December 9th. The Goldman Sachs Group reiterated a “buy” rating and issued a $240.00 price target (up from $210.00) on shares of NVIDIA in a research report on Friday, October 31st. Jefferies Financial Group reiterated a “buy” rating and set a $250.00 price target (up previously from $240.00) on shares of NVIDIA in a research note on Thursday, November 20th. Finally, Wall Street Zen upgraded NVIDIA from a “hold” rating to a “buy” rating in a research note on Sunday, October 19th. Four analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, NVIDIA has a consensus rating of “Buy” and an average price target of $258.65.

NVIDIA Stock Up 0.7%

NVDA opened at $176.29 on Tuesday. The stock has a market cap of $4.28 trillion, a price-to-earnings ratio of 43.74, a price-to-earnings-growth ratio of 0.86 and a beta of 2.29. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.71 and a current ratio of 4.47. The firm’s fifty day moving average is $186.51 and its 200 day moving average is $174.35. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $212.19.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.07. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.The business had revenue of $57.01 billion during the quarter, compared to analyst estimates of $54.66 billion. During the same quarter in the prior year, the business posted $0.81 EPS. NVIDIA’s revenue for the quarter was up 62.5% compared to the same quarter last year. On average, sell-side analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

NVIDIA 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.