Boltwood Capital Management Invests $584,000 in NVIDIA Co. (NASDAQ:NVDA)

Boltwood Capital Management acquired a new position in NVIDIA Co. (NASDAQ:NVDA) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,093 shares of the computer hardware maker’s stock, valued at approximately $584,000.

Other institutional investors have also recently modified their holdings of the company. PrairieView Partners LLC purchased a new position in shares of NVIDIA in the 4th quarter worth approximately $26,000. Cedar Mountain Advisors LLC acquired a new stake in NVIDIA in the 4th quarter worth approximately $34,000. Bartlett & Co. LLC boosted its stake in NVIDIA by 48.2% in the 4th quarter. Bartlett & Co. LLC now owns 83 shares of the computer hardware maker’s stock worth $43,000 after purchasing an additional 27 shares in the last quarter. Perennial Advisors LLC acquired a new stake in NVIDIA in the 4th quarter worth approximately $49,000. Finally, Litman Gregory Asset Management LLC acquired a new stake in NVIDIA in the 4th quarter worth approximately $52,000. 65.70% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Mark L. Perry sold 6,104 shares of the business’s stock in a transaction on Monday, April 5th. The shares were sold at an average price of $556.58, for a total value of $3,397,364.32. Following the completion of the sale, the director now owns 8,031 shares of the company’s stock, valued at approximately $4,469,893.98. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.47% of the stock is currently owned by insiders.

NVDA has been the subject of a number of recent analyst reports. Truist lifted their target price on shares of NVIDIA from $672.00 to $700.00 in a research note on Thursday, February 25th. Cowen lifted their target price on shares of NVIDIA from $600.00 to $665.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 3rd. Barclays lifted their target price on shares of NVIDIA from $550.00 to $600.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 26th. They noted that the move was a valuation call. Mizuho lifted their target price on shares of NVIDIA from $605.00 to $650.00 and gave the stock a “buy” rating in a research note on Wednesday, March 3rd. Finally, BMO Capital Markets lifted their price objective on shares of NVIDIA from $650.00 to $680.00 and gave the company an “outperform” rating in a research note on Monday, February 22nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $593.56.

NASDAQ NVDA traded up $7.05 on Thursday, hitting $572.79. The company had a trading volume of 127,472 shares, compared to its average volume of 8,266,496. The company has a market capitalization of $355.13 billion, a PE ratio of 92.59, a PEG ratio of 3.87 and a beta of 1.45. The company’s fifty day moving average price is $534.84 and its 200-day moving average price is $535.31. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.92 and a quick ratio of 3.52. NVIDIA Co. has a 12-month low of $257.00 and a 12-month high of $614.90.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Tuesday, February 23rd. The computer hardware maker reported $3.10 EPS for the quarter, topping the consensus estimate of $2.81 by $0.29. The company had revenue of $5 billion during the quarter, compared to analyst estimates of $4.83 billion. NVIDIA had a net margin of 25.89% and a return on equity of 32.61%. During the same quarter in the previous year, the firm earned $1.89 EPS. On average, sell-side analysts anticipate that NVIDIA Co. will post 7.65 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Wednesday, March 10th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend was Tuesday, March 9th. NVIDIA’s payout ratio is presently 13.94%.

NVIDIA Company Profile

NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based gaming; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for artificial intelligence (AI) utilizing deep learning, accelerated computing, and general purpose computing; GRID, which provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and EGX for accelerated AI computing at the edge.

Further Reading: How is a buy-side analyst different from a sell-side analyst?

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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