Wade G W & Inc. Cuts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

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Wade G W & Inc. decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 8.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,327 shares of the computer hardware maker’s stock after selling 125 shares during the period. Wade G W & Inc.’s holdings in NVIDIA were worth $718,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NVDA. GQG Partners LLC raised its stake in shares of NVIDIA by 24.7% during the 2nd quarter. GQG Partners LLC now owns 4,699,573 shares of the computer hardware maker’s stock worth $1,785,779,000 after buying an additional 929,423 shares during the period. BlackRock Inc. grew its holdings in NVIDIA by 2.0% in the 2nd quarter. BlackRock Inc. now owns 43,602,920 shares of the computer hardware maker’s stock valued at $16,565,183,000 after buying an additional 849,675 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of NVIDIA by 117.8% in the 2nd quarter. Nordea Investment Management AB now owns 1,033,456 shares of the computer hardware maker’s stock valued at $391,772,000 after purchasing an additional 558,874 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of NVIDIA by 6.6% in the 3rd quarter. Jennison Associates LLC now owns 8,302,556 shares of the computer hardware maker’s stock valued at $4,493,509,000 after purchasing an additional 516,044 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of NVIDIA by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 49,018,971 shares of the computer hardware maker’s stock valued at $18,622,797,000 after purchasing an additional 479,795 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Shares of NVDA stock opened at $540.61 on Tuesday. The business’s 50 day moving average is $539.93 and its two-hundred day moving average is $443.31. NVIDIA Co. has a twelve month low of $180.68 and a twelve month high of $589.07. The company has a market capitalization of $333.56 billion, a P/E ratio of 99.38, a price-to-earnings-growth ratio of 3.97 and a beta of 1.59. 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 (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 19th. The computer hardware maker reported $2.18 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.21. NVIDIA had a return on equity of 30.41% and a net margin of 25.93%. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period last year, the business posted $1.24 EPS. The company’s revenue was up 50.1% on a year-over-year basis. As a group, equities analysts predict that NVIDIA Co. will post 6.93 earnings per share for the current fiscal year.

Several equities analysts have recently commented on the company. Needham & Company LLC upped their price target on NVIDIA from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, September 15th. Wells Fargo & Company increased their target price on NVIDIA from $535.00 to $605.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 1st. Piper Sandler increased their target price on NVIDIA from $390.00 to $540.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. Cowen increased their target price on NVIDIA from $475.00 to $540.00 and gave the stock an “outperform” rating in a research note on Thursday, August 20th. Finally, Rosenblatt Securities increased their target price on NVIDIA from $500.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and thirty-one have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $520.86.

In other NVIDIA news, Director Stephen C. Neal purchased 498 shares of NVIDIA stock in a transaction dated Friday, September 25th. The stock was acquired at an average cost of $500.95 per share, with a total value of $249,473.10. Following the acquisition, the director now directly owns 4,476 shares of the company’s stock, valued at $2,242,252.20. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stephen C. Neal purchased 435 shares of NVIDIA stock in a transaction dated Monday, September 21st. The stock was acquired at an average cost of $498.23 per share, with a total value of $216,730.05. Following the completion of the acquisition, the director now directly owns 3,963 shares in the company, valued at $1,974,485.49. The disclosure for this purchase can be found here. Insiders sold a total of 112,654 shares of company stock worth $61,687,595 over the last quarter. Company insiders own 4.47% of the company’s stock.

NVIDIA Profile

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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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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