Patten Group Inc. trimmed its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,211 shares of the computer hardware maker’s stock after selling 575 shares during the period. Patten Group Inc.’s holdings in NVIDIA were worth $2,026,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC acquired a new stake in NVIDIA during the third quarter worth about $124,000. Kwmg LLC acquired a new stake in NVIDIA during the second quarter worth about $105,000. JFS Wealth Advisors LLC acquired a new stake in NVIDIA during the third quarter worth about $141,000. Columbia Asset Management acquired a new stake in NVIDIA during the third quarter worth about $146,000. Finally, Almanack Investment Partners LLC. acquired a new stake in NVIDIA during the second quarter worth about $127,000. 67.56% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Colette Kress sold 11,576 shares of NVIDIA stock in a transaction that occurred 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 transaction, the chief financial officer now owns 297,482 shares in the company, valued at $79,222,431.42. The sale was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $289.35, for a total value of $26,281,949.85. Following the transaction, the executive vice president now owns 184,001 shares in the company, valued at approximately $53,240,689.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,664 shares of company stock worth $32,335,927. 4.70% of the stock is currently owned by company insiders.
A number of brokerages have issued reports on NVDA. Goldman Sachs Group upgraded NVIDIA from a “buy” rating to a “conviction-buy” rating and lowered their price target for the stock from $324.00 to $305.00 in a research report on Thursday, October 18th. Evercore ISI increased their price target on NVIDIA from $300.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, September 28th. Credit Suisse Group began coverage on NVIDIA in a research report on Monday, November 26th. They set an “outperform” rating and a $225.00 price target on the stock. Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a research report on Friday, October 5th. Finally, Needham & Company LLC increased their price target on NVIDIA from $325.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, September 14th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-six have given a buy rating to the company. NVIDIA has an average rating of “Buy” and a consensus price target of $257.76.
Shares of NASDAQ NVDA traded down $3.44 during midday trading on Friday, hitting $154.85. The stock had a trading volume of 2,266,170 shares, compared to its average volume of 19,603,860. The company has a market cap of $95.84 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 2.28 and a beta of 1.97. NVIDIA Co. has a 1 year low of $133.31 and a 1 year high of $292.76. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.08 and a quick ratio of 6.20.
NVIDIA (NASDAQ:NVDA) last released its earnings results on Thursday, November 15th. The computer hardware maker reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.06). The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.24 billion. NVIDIA had a net margin of 37.78% and a return on equity of 51.60%. On average, equities research analysts anticipate that NVIDIA Co. will post 6.45 EPS for the current fiscal year.
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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.
See Also: Diversification
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