Avalon Advisors LLC Buys New Position in NVIDIA Co. (NVDA)

Avalon Advisors LLC bought a new stake in NVIDIA Co. (NASDAQ:NVDA) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 56,086 shares of the computer hardware maker’s stock, valued at approximately $12,989,000.

Other large investors also recently bought and sold shares of the company. Cynosure Advisors LLC purchased a new stake in shares of NVIDIA in the first quarter valued at about $556,000. Allianz Life Insurance Co of North America purchased a new stake in shares of NVIDIA in the first quarter valued at about $585,000. HighPoint Advisor Group LLC grew its holdings in shares of NVIDIA by 111.6% in the first quarter. HighPoint Advisor Group LLC now owns 9,362 shares of the computer hardware maker’s stock valued at $2,456,000 after purchasing an additional 4,937 shares during the period. Nicola Wealth Management LTD. purchased a new stake in shares of NVIDIA in the first quarter valued at about $2,084,000. Finally, Shamrock Asset Management LLC grew its holdings in shares of NVIDIA by 378.0% in the first quarter. Shamrock Asset Management LLC now owns 2,390 shares of the computer hardware maker’s stock valued at $580,000 after purchasing an additional 1,890 shares during the period. Institutional investors own 65.01% of the company’s stock.

Several research analysts have weighed in on NVDA shares. Morgan Stanley raised shares of NVIDIA from an “equal weight” rating to an “overweight” rating and set a $258.00 target price for the company in a research note on Monday, April 9th. SunTrust Banks increased their target price on shares of NVIDIA to $316.00 and gave the stock a “buy” rating in a research note on Friday, May 11th. BidaskClub raised shares of NVIDIA from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 19th. Argus increased their target price on shares of NVIDIA from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, March 22nd. They noted that the move was a valuation call. Finally, ValuEngine raised shares of NVIDIA from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $262.72.

NVIDIA traded down $4.89, reaching $252.22, during midday trading on Friday, Marketbeat.com reports. The stock had a trading volume of 6,766,116 shares, compared to its average volume of 9,537,450. NVIDIA Co. has a 12-month low of $138.58 and a 12-month high of $269.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 8.54 and a quick ratio of 7.82. The firm has a market cap of $159.22 billion, a price-to-earnings ratio of 54.01, a price-to-earnings-growth ratio of 3.62 and a beta of 1.54.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, May 10th. The computer hardware maker reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.58. The firm had revenue of $3.21 billion for the quarter, compared to analyst estimates of $2.88 billion. NVIDIA had a net margin of 34.44% and a return on equity of 52.18%. NVIDIA’s quarterly revenue was up 65.6% on a year-over-year basis. During the same period last year, the firm posted $0.85 EPS. analysts expect that NVIDIA Co. will post 7.08 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Thursday, May 24th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, May 23rd. This represents a $0.60 annualized dividend and a dividend yield of 0.24%. NVIDIA’s payout ratio is currently 12.85%.

In other NVIDIA news, Director Persis Drell sold 5,141 shares of the business’s stock in a transaction on Wednesday, March 28th. The shares were sold at an average price of $220.73, for a total transaction of $1,134,772.93. Following the sale, the director now directly owns 20,963 shares in the company, valued at approximately $4,627,162.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Debora Shoquist sold 32,049 shares of the business’s stock in a transaction on Tuesday, March 27th. The stock was sold at an average price of $239.45, for a total transaction of $7,674,133.05. Following the sale, the executive vice president now owns 201,796 shares in the company, valued at $48,320,052.20. The disclosure for this sale can be found here. Insiders have sold a total of 244,609 shares of company stock worth $61,860,200 over the last 90 days. Insiders own 4.70% of the company’s stock.

NVIDIA Company Profile

NVIDIA Corporation operates as a visual computing company worldwide. It operates through 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 game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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