Institute for Wealth Management LLC. reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,624 shares of the computer hardware maker’s stock after selling 615 shares during the period. NVIDIA makes up 0.9% of Institute for Wealth Management LLC.’s holdings, making the stock its 15th largest position. Institute for Wealth Management LLC.’s holdings in NVIDIA were worth $3,764,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. RPG Investment Advisory LLC increased its holdings in shares of NVIDIA by 1.4% in the third quarter. RPG Investment Advisory LLC now owns 36,960 shares of the computer hardware maker’s stock valued at $6,434,000 after purchasing an additional 504 shares during the period. Brighton Jones LLC boosted its stake in shares of NVIDIA by 27.4% in the third quarter. Brighton Jones LLC now owns 2,658 shares of the computer hardware maker’s stock worth $463,000 after buying an additional 572 shares during the last quarter. CENTRAL TRUST Co boosted its stake in shares of NVIDIA by 6.4% in the third quarter. CENTRAL TRUST Co now owns 9,278 shares of the computer hardware maker’s stock worth $1,616,000 after buying an additional 559 shares during the last quarter. Connors Investor Services Inc. boosted its stake in shares of NVIDIA by 19.7% in the third quarter. Connors Investor Services Inc. now owns 12,726 shares of the computer hardware maker’s stock worth $2,215,000 after buying an additional 2,095 shares during the last quarter. Finally, McGuire Investment Group LLC boosted its stake in shares of NVIDIA by 3.4% in the third quarter. McGuire Investment Group LLC now owns 2,765 shares of the computer hardware maker’s stock worth $481,000 after buying an additional 90 shares during the last quarter. 64.44% of the stock is currently owned by institutional investors.
NVDA has been the topic of a number of recent research reports. Craig Hallum restated a “hold” rating and issued a $170.00 target price (up previously from $165.00) on shares of NVIDIA in a research note on Friday, August 16th. Wells Fargo & Co upped their target price on NVIDIA from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Oppenheimer set a $190.00 target price on NVIDIA and gave the stock a “buy” rating in a research note on Friday, August 16th. BidaskClub upgraded NVIDIA from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Finally, Barclays lowered their target price on NVIDIA from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $188.36.
Shares of NASDAQ NVDA traded up $2.25 during midday trading on Monday, hitting $206.79. The stock had a trading volume of 8,258,600 shares, compared to its average volume of 12,116,394. The company has a market capitalization of $119.89 billion, a PE ratio of 34.07, a P/E/G ratio of 5.06 and a beta of 2.05. The stock has a 50 day simple moving average of $182.55 and a 200-day simple moving average of $168.65. NVIDIA Co. has a 1 year low of $124.46 and a 1 year high of $222.00. The company has a quick ratio of 7.74, a current ratio of 8.65 and a debt-to-equity ratio of 0.24.
NVIDIA (NASDAQ:NVDA) last released its earnings results on Thursday, August 15th. The computer hardware maker reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.37. NVIDIA had a return on equity of 24.40% and a net margin of 26.93%. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the business posted $1.94 earnings per share. The business’s quarterly revenue was down 17.4% compared to the same quarter last year. As a group, analysts expect that NVIDIA Co. will post 4.07 earnings per share for the current fiscal year.
In other NVIDIA news, Director Persis Drell sold 165 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $180.45, for a total transaction of $29,774.25. Following the transaction, the director now owns 18,019 shares in the company, valued at approximately $3,251,528.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 31,357 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $179.01, for a total value of $5,613,216.57. The disclosure for this sale can be found here. Insiders have sold a total of 66,383 shares of company stock valued at $11,625,217 over the last ninety days. 4.64% of the stock is owned by company insiders.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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