Bernardo Wealth Planning LLC reduced its position in NVIDIA Co. (NASDAQ:NVDA) by 20.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,064 shares of the computer hardware maker’s stock after selling 525 shares during the quarter. Bernardo Wealth Planning LLC’s holdings in NVIDIA were worth $359,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Pacific Center for Financial Services raised its stake in NVIDIA by 143.1% during the second quarter. Pacific Center for Financial Services now owns 158 shares of the computer hardware maker’s stock worth $26,000 after acquiring an additional 93 shares in the last quarter. LLBH Private Wealth Management LLC acquired a new position in NVIDIA during the second quarter worth $27,000. Marquette Asset Management LLC raised its stake in NVIDIA by 416.7% during the third quarter. Marquette Asset Management LLC now owns 155 shares of the computer hardware maker’s stock worth $27,000 after acquiring an additional 125 shares in the last quarter. Field & Main Bank acquired a new position in NVIDIA during the second quarter worth $33,000. Finally, Investors Research Corp raised its stake in NVIDIA by 313.0% during the third quarter. Investors Research Corp now owns 190 shares of the computer hardware maker’s stock worth $33,000 after acquiring an additional 144 shares in the last quarter. 64.45% of the stock is owned by hedge funds and other institutional investors.
Shares of NVDA stock opened at $207.63 on Thursday. The stock has a 50-day moving average price of $188.28 and a 200 day moving average price of $169.57. The company has a quick ratio of 7.74, a current ratio of 8.65 and a debt-to-equity ratio of 0.24. The firm has a market cap of $123.38 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 5.21 and a beta of 2.06. NVIDIA Co. has a 12 month low of $124.46 and a 12 month high of $217.41.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, August 15th. The computer hardware maker reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.37. The firm had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.55 billion. NVIDIA had a return on equity of 24.40% and a net margin of 26.93%. The company’s revenue was down 17.4% on a year-over-year basis. During the same period last year, the company earned $1.94 earnings per share. Sell-side analysts predict that NVIDIA Co. will post 4.07 earnings per share for the current fiscal year.
In other NVIDIA news, Director James C. Gaither sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $182.37, for a total transaction of $1,823,700.00. Following the transaction, the director now owns 4,279 shares in the company, valued at $780,361.23. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Persis Drell sold 165 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $180.45, for a total value 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 66,383 shares of company stock valued at $11,625,217. Corporate insiders own 4.64% of the company’s stock.
NVDA has been the subject of several recent analyst reports. Morgan Stanley reiterated an “equal weight” rating and set a $180.00 price objective (up from $170.00) on shares of NVIDIA in a research note on Friday, August 16th. Royal Bank of Canada increased their price objective on NVIDIA from $217.00 to $251.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. FBN Securities set a $190.00 price objective on NVIDIA and gave the stock a “buy” rating in a research note on Friday, August 16th. Oppenheimer set a $190.00 price objective on NVIDIA and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $180.00 price objective on shares of NVIDIA in a research note on Friday, August 16th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. NVIDIA currently has an average rating of “Buy” and an average price target of $189.15.
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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