Chemical Bank grew its position in NVIDIA Co. (NASDAQ:NVDA) by 3.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,246 shares of the computer hardware maker’s stock after buying an additional 416 shares during the quarter. Chemical Bank’s holdings in NVIDIA were worth $4,003,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the business. Signature Estate & Investment Advisors LLC acquired a new stake in shares of NVIDIA during the third quarter worth approximately $124,000. Legacy Financial Advisors Inc. boosted its holdings in shares of NVIDIA by 111.0% during the second quarter. Legacy Financial Advisors Inc. now owns 443 shares of the computer hardware maker’s stock worth $110,000 after purchasing an additional 233 shares during the period. Kwmg LLC acquired a new stake in shares of NVIDIA during the second quarter worth approximately $105,000. Almanack Investment Partners LLC. acquired a new stake in shares of NVIDIA during the second quarter worth approximately $127,000. Finally, Ropes Wealth Advisors LLC boosted its holdings in shares of NVIDIA by 561.8% during the second quarter. Ropes Wealth Advisors LLC now owns 589 shares of the computer hardware maker’s stock worth $140,000 after purchasing an additional 500 shares during the period. Institutional investors own 65.71% of the company’s stock.
Several analysts recently commented on the stock. Morgan Stanley decreased their price target on shares of NVIDIA from $273.00 to $260.00 and set an “overweight” rating for the company in a report on Thursday. JPMorgan Chase & Co. raised shares of NVIDIA from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $265.00 to $255.00 in a research report on Tuesday, October 30th. Stifel Nicolaus reaffirmed a “hold” rating and set a $250.00 price objective (up previously from $243.00) on shares of NVIDIA in a research report on Friday, August 17th. BidaskClub lowered shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Finally, Cowen cut their price objective on shares of NVIDIA from $325.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, August 17th. Eleven analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $289.82.
NASDAQ:NVDA opened at $205.67 on Friday. NVIDIA Co. has a 12 month low of $176.01 and a 12 month high of $292.76. The company has a market capitalization of $129.98 billion, a PE ratio of 44.04, a PEG ratio of 2.80 and a beta of 2.01. 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 quarterly earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 EPS for the quarter, beating 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 company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter last year, the firm posted $1.01 earnings per share. The company’s quarterly revenue was up 40.0% compared to the same quarter last year. Analysts predict that NVIDIA Co. will post 7.15 earnings per share for the current fiscal year.
In other news, insider Michael Byron sold 11,257 shares of NVIDIA stock in a transaction that occurred 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 transaction, the insider now owns 81,414 shares of the company’s stock, valued at $21,488,411.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Ajay K. Puri sold 90,831 shares of the firm’s stock in a transaction 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 completion of the sale, 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 three months, insiders sold 113,707 shares of company stock worth $32,347,973. Insiders own 4.70% of the company’s stock.
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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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