Pitcairn Co. reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 4.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,039 shares of the computer hardware maker’s stock after selling 248 shares during the period. Pitcairn Co.’s holdings in NVIDIA were worth $1,416,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the stock. Ashfield Capital Partners LLC boosted its stake in shares of NVIDIA by 377.6% in the third quarter. Ashfield Capital Partners LLC now owns 42,856 shares of the computer hardware maker’s stock valued at $12,043,000 after buying an additional 33,882 shares during the period. Greencape Capital Pty Ltd raised its position in NVIDIA by 53.4% during the third quarter. Greencape Capital Pty Ltd now owns 196,746 shares of the computer hardware maker’s stock valued at $55,290,000 after purchasing an additional 68,500 shares in the last quarter. TD Asset Management Inc. raised its position in NVIDIA by 19.7% during the third quarter. TD Asset Management Inc. now owns 287,756 shares of the computer hardware maker’s stock valued at $80,865,000 after purchasing an additional 47,318 shares in the last quarter. Strategy Asset Managers LLC acquired a new position in NVIDIA during the third quarter valued at approximately $2,994,000. Finally, Private Advisor Group LLC raised its position in NVIDIA by 100.0% during the third quarter. Private Advisor Group LLC now owns 37,860 shares of the computer hardware maker’s stock valued at $10,639,000 after purchasing an additional 18,934 shares in the last quarter. Institutional investors and hedge funds own 65.71% of the company’s stock.
Shares of NASDAQ:NVDA opened at $211.77 on Tuesday. The firm has a market cap of $130.67 billion, a PE ratio of 45.35, a P/E/G ratio of 2.82 and a beta of 2.01. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.41 and a quick ratio of 6.66. NVIDIA Co. has a 52-week low of $176.01 and a 52-week high of $292.76.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.28. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.11 billion. NVIDIA had a net margin of 36.21% and a return on equity of 54.18%. The company’s revenue for the quarter was up 40.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 earnings per share. On average, sell-side analysts anticipate that NVIDIA Co. will post 7.15 EPS for the current year.
In related news, insider Michael Byron sold 11,257 shares of the business’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $263.94, for a total value of $2,971,172.58. Following the sale, the insider now owns 81,414 shares of the company’s stock, valued at $21,488,411.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 11,576 shares of the business’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $266.31, for a total transaction of $3,082,804.56. Following the completion of the sale, the chief financial officer now directly owns 297,482 shares in the company, valued at approximately $79,222,431.42. The disclosure for this sale can be found here. In the last three months, insiders sold 113,707 shares of company stock worth $32,347,973. 4.70% of the stock is currently owned by insiders.
Several brokerages have commented on NVDA. BidaskClub upgraded shares of NVIDIA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 25th. Benchmark restated a “buy” rating and set a $310.00 price objective (up from $280.00) on shares of NVIDIA in a research report on Thursday, September 20th. Needham & Company LLC boosted their price objective on shares of NVIDIA from $325.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, September 14th. Tigress Financial restated a “buy” rating on shares of NVIDIA in a research report on Friday, October 5th. Finally, Evercore ISI boosted their price objective 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. Eleven equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $290.21.
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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.
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