Patton Albertson Miller Group LLC lessened its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 8.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,074 shares of the computer hardware maker’s stock after selling 956 shares during the quarter. NVIDIA accounts for 1.0% of Patton Albertson Miller Group LLC’s investment portfolio, making the stock its 20th biggest position. Patton Albertson Miller Group LLC’s holdings in NVIDIA were worth $2,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the business. Broderick Brian C lifted its stake in shares of NVIDIA by 5.8% in the second quarter. Broderick Brian C now owns 9,931 shares of the computer hardware maker’s stock worth $2,353,000 after acquiring an additional 546 shares in the last quarter. Arrow Financial Corp raised its position in shares of NVIDIA by 8.3% in the 2nd quarter. Arrow Financial Corp now owns 11,652 shares of the computer hardware maker’s stock valued at $2,762,000 after purchasing an additional 890 shares in the last quarter. Nvwm LLC raised its position in shares of NVIDIA by 38.4% in the 2nd quarter. Nvwm LLC now owns 8,907 shares of the computer hardware maker’s stock valued at $2,110,000 after purchasing an additional 2,473 shares in the last quarter. Brown Advisory Inc. raised its position in shares of NVIDIA by 152.5% in the 1st quarter. Brown Advisory Inc. now owns 7,473 shares of the computer hardware maker’s stock valued at $1,730,000 after purchasing an additional 4,513 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its position in shares of NVIDIA by 8,302.4% in the 2nd quarter. OppenheimerFunds Inc. now owns 311,478 shares of the computer hardware maker’s stock valued at $73,789,000 after purchasing an additional 307,771 shares in the last quarter. Institutional investors own 65.82% of the company’s stock.
In other NVIDIA news, CFO Colette Kress sold 11,576 shares of the stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $266.31, for a total value of $3,082,804.56. Following the sale, the chief financial officer now directly owns 297,482 shares of the company’s stock, valued at $79,222,431.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ajay K. Puri sold 90,831 shares of the stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $289.35, for a total value of $26,281,949.85. Following the completion of the sale, the executive vice president now directly owns 184,001 shares in the company, valued at $53,240,689.35. The disclosure for this sale can be found here. Insiders have sold a total of 113,707 shares of company stock worth $32,347,973 over the last quarter. Insiders own 4.70% of the company’s stock.
NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Thursday, August 16th. The computer hardware maker reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.28. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.11 billion. NVIDIA had a net margin of 36.21% and a return on equity of 54.18%. NVIDIA’s quarterly revenue was up 40.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.01 earnings per share. Sell-side analysts predict that NVIDIA Co. will post 7.15 earnings per share for the current fiscal year.
A number of equities analysts have issued reports on the company. Bank of America cut their target price on NVIDIA from $360.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday. BidaskClub cut shares of NVIDIA from a “buy” rating to a “hold” rating in a report on Wednesday. UBS Group cut their price target on shares of NVIDIA from $280.00 to $260.00 and set a “neutral” rating on the stock in a report on Tuesday. Goldman Sachs Group raised shares of NVIDIA from a “buy” rating to a “conviction-buy” rating and cut their price target for the company from $324.00 to $305.00 in a report on Thursday, October 18th. Finally, Argus reaffirmed a “buy” rating and issued a $300.00 price target on shares of NVIDIA in a report on Friday, October 12th. Twelve equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. NVIDIA presently has a consensus rating of “Buy” and a consensus price target of $290.52.
NVIDIA Company Profile
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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