Valmark Advisers Inc. bought a new stake in NVIDIA Co. (NASDAQ:NVDA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 586 shares of the computer hardware maker’s stock, valued at approximately $317,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVDA. Hoover Financial Advisors Inc. bought a new position in NVIDIA in the second quarter valued at about $32,000. NewSquare Capital LLC acquired a new position in shares of NVIDIA during the third quarter valued at $32,000. Atlantic Trust LLC boosted its holdings in shares of NVIDIA by 46.9% during the second quarter. Atlantic Trust LLC now owns 94 shares of the computer hardware maker’s stock valued at $36,000 after acquiring an additional 30 shares during the period. CVA Family Office LLC acquired a new position in shares of NVIDIA during the third quarter valued at $40,000. Finally, JJJ Advisors Inc. acquired a new position in shares of NVIDIA during the third quarter valued at $42,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.
In other news, EVP Debora Shoquist sold 16,686 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $556.54, for a total transaction of $9,286,426.44. Following the completion of the transaction, the executive vice president now directly owns 132,854 shares of the company’s stock, valued at approximately $73,938,565.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen C. Neal bought 435 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The stock was purchased at an average cost of $498.23 per share, with a total value of $216,730.05. Following the completion of the purchase, the director now directly owns 3,963 shares of the company’s stock, valued at approximately $1,974,485.49. The disclosure for this purchase can be found here. Insiders have sold 112,654 shares of company stock valued at $61,687,595 over the last ninety days. 4.47% of the stock is owned by insiders.
NVDA stock opened at $541.99 on Tuesday. The company has a current ratio of 6.09, a quick ratio of 5.51 and a debt-to-equity ratio of 0.50. NVIDIA Co. has a 1 year low of $180.68 and a 1 year high of $589.07. The company has a fifty day simple moving average of $539.93 and a 200 day simple moving average of $443.31. The firm has a market cap of $333.56 billion, a PE ratio of 99.38, a PEG ratio of 3.97 and a beta of 1.59.
NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 19th. The computer hardware maker reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.21. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.66 billion. NVIDIA had a return on equity of 30.41% and a net margin of 25.93%. The company’s quarterly revenue was up 50.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.24 earnings per share. As a group, analysts forecast that NVIDIA Co. will post 6.93 EPS for the current fiscal year.
A number of analysts have commented on the stock. Raymond James restated a “buy” rating on shares of NVIDIA in a research report on Tuesday, October 6th. Benchmark upgraded shares of NVIDIA to a “buy” rating and raised their target price for the stock from $540.00 to $600.00 in a report on Wednesday, September 2nd. Needham & Company LLC raised their target price on shares of NVIDIA from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, September 15th. Royal Bank of Canada increased their target price on shares of NVIDIA from $528.00 to $610.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 2nd. Finally, Citigroup raised their price target on shares of NVIDIA from $392.00 to $540.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and thirty-one have assigned a buy rating to the company’s stock. NVIDIA presently has an average rating of “Buy” and a consensus price target of $520.86.
NVIDIA Corporation operates as a visual computing company worldwide. It operates in 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 gaming; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for artificial intelligence (AI) utilizing deep learning, accelerated computing, and general purpose computing; GRID, which provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and EGX for accelerated AI computing at the edge.
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