CIBC Asset Management Inc raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,627 shares of the computer hardware maker’s stock after buying an additional 2,034 shares during the quarter. CIBC Asset Management Inc’s holdings in NVIDIA were worth $30,526,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. HL Financial Services LLC lifted its position in NVIDIA by 7.3% in the third quarter. HL Financial Services LLC now owns 31,108 shares of the computer hardware maker’s stock valued at $8,742,000 after buying an additional 2,111 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in NVIDIA by 69.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 142,500 shares of the computer hardware maker’s stock valued at $40,045,000 after buying an additional 58,448 shares during the last quarter. Usca Ria LLC lifted its position in NVIDIA by 13.8% in the third quarter. Usca Ria LLC now owns 15,447 shares of the computer hardware maker’s stock valued at $4,341,000 after buying an additional 1,875 shares during the last quarter. Zions Bancorporation lifted its position in NVIDIA by 9.6% in the third quarter. Zions Bancorporation now owns 3,087 shares of the computer hardware maker’s stock valued at $868,000 after buying an additional 270 shares during the last quarter. Finally, Commerce Bank lifted its position in NVIDIA by 13.2% in the third quarter. Commerce Bank now owns 18,794 shares of the computer hardware maker’s stock valued at $5,281,000 after buying an additional 2,190 shares during the last quarter. 65.71% of the stock is currently owned by institutional investors.
Shares of NVDA opened at $211.77 on Tuesday. The stock has a market cap of $130.67 billion, a PE ratio of 45.35, a price-to-earnings-growth ratio of 2.82 and a beta of 2.01. NVIDIA Co. has a 1 year low of $176.01 and a 1 year high of $292.76. 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 (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 firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. The business’s quarterly revenue was up 40.0% compared to the same quarter last year. As a group, analysts predict that NVIDIA Co. will post 7.15 EPS for the current year.
In related news, CFO Colette Kress sold 11,576 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $266.31, for a total transaction of $3,082,804.56. Following the sale, the chief financial officer now directly owns 297,482 shares in the company, valued at $79,222,431.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ajay K. Puri sold 90,831 shares of the company’s stock in a transaction that occurred on Tuesday, October 2nd. The stock was 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 owns 184,001 shares in the company, valued at $53,240,689.35. The disclosure for this sale can be found here. Insiders have sold 113,707 shares of company stock worth $32,347,973 over the last 90 days. Insiders own 4.70% of the company’s stock.
A number of research analysts have commented on NVDA shares. Argus reaffirmed a “buy” rating and issued a $300.00 target price on shares of NVIDIA in a research report on Friday, October 12th. Goldman Sachs Group raised shares of NVIDIA from a “buy” rating to a “conviction-buy” rating and decreased their target price for the company from $324.00 to $305.00 in a research report on Thursday, October 18th. Evercore ISI upped their target price on shares of NVIDIA from $300.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, September 28th. BidaskClub cut shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a research report on Friday, October 5th. Eleven investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $290.21.
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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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