Mission Wealth Management LP decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 20.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,398 shares of the computer hardware maker’s stock after selling 619 shares during the period. Mission Wealth Management LP’s holdings in NVIDIA were worth $674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of NVDA. Kwmg LLC purchased a new position in shares of NVIDIA during the 2nd quarter valued at about $105,000. Legacy Financial Advisors Inc. raised its stake in shares of NVIDIA by 111.0% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 443 shares of the computer hardware maker’s stock valued at $110,000 after buying an additional 233 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in shares of NVIDIA during the 3rd quarter valued at about $124,000. Almanack Investment Partners LLC. purchased a new position in shares of NVIDIA during the 2nd quarter valued at about $127,000. Finally, Ropes Wealth Advisors LLC raised its stake in shares of NVIDIA by 561.8% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 589 shares of the computer hardware maker’s stock valued at $140,000 after buying an additional 500 shares during the last quarter. Institutional investors own 65.71% of the company’s stock.
A number of equities research analysts have recently commented on the company. BidaskClub cut NVIDIA from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 18th. Stifel Nicolaus restated a “hold” rating and set a $250.00 target price (up from $243.00) on shares of NVIDIA in a research report on Friday, August 17th. ValuEngine cut NVIDIA from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Oppenheimer upgraded NVIDIA from a “market perform” rating to an “outperform” rating and set a $310.00 target price on the stock in a research report on Friday, August 17th. Finally, Zacks Investment Research cut NVIDIA from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. Eleven analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $290.21.
NVDA opened at $214.92 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 6.66 and a current ratio of 7.41. NVIDIA Co. has a 1-year low of $176.01 and a 1-year high of $292.76. The company has a market capitalization of $130.67 billion, a price-to-earnings ratio of 46.02, a price-to-earnings-growth ratio of 2.82 and a beta of 2.01.
NVIDIA (NASDAQ:NVDA) last released its earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.28. NVIDIA had a net margin of 36.21% and a return on equity of 54.18%. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period last year, the company posted $1.01 EPS. The business’s revenue was up 40.0% on a year-over-year basis. Sell-side analysts forecast that NVIDIA Co. will post 7.15 EPS for the current fiscal year.
In other news, insider Michael Byron sold 11,257 shares of NVIDIA stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $263.94, for a total transaction of $2,971,172.58. Following the sale, the insider now owns 81,414 shares of the company’s stock, valued at approximately $21,488,411.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ajay K. Puri sold 90,831 shares of NVIDIA stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $289.35, for a total transaction of $26,281,949.85. Following the sale, the executive vice president now directly owns 184,001 shares in the company, valued at approximately $53,240,689.35. The disclosure for this sale can be found here. Insiders sold a total of 113,707 shares of company stock worth $32,347,973 over the last three months. Corporate insiders own 4.70% of the company’s stock.
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.
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