Convergence Investment Partners LLC Invests $212,000 in NVIDIA Co. (NASDAQ:NVDA)

Convergence Investment Partners LLC purchased a new position in NVIDIA Co. (NASDAQ:NVDA) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,216 shares of the computer hardware maker’s stock, valued at approximately $212,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in NVIDIA by 1.2% during the second quarter. Vanguard Group Inc. now owns 45,990,868 shares of the computer hardware maker’s stock valued at $7,553,081,000 after buying an additional 528,040 shares during the period. Jennison Associates LLC boosted its stake in NVIDIA by 10.6% during the second quarter. Jennison Associates LLC now owns 8,690,058 shares of the computer hardware maker’s stock valued at $1,427,168,000 after buying an additional 832,508 shares during the period. Edgewood Management LLC boosted its stake in NVIDIA by 0.4% during the second quarter. Edgewood Management LLC now owns 7,890,343 shares of the computer hardware maker’s stock valued at $1,295,831,000 after buying an additional 31,623 shares during the period. Invesco Ltd. boosted its stake in NVIDIA by 4.3% during the second quarter. Invesco Ltd. now owns 7,364,460 shares of the computer hardware maker’s stock valued at $1,209,466,000 after buying an additional 304,337 shares during the period. Finally, Northern Trust Corp boosted its stake in NVIDIA by 3.3% during the second quarter. Northern Trust Corp now owns 7,183,137 shares of the computer hardware maker’s stock valued at $1,179,686,000 after buying an additional 230,497 shares during the period. 64.44% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently issued reports on the company. Daiwa Capital Markets set a $200.00 price objective on NVIDIA and gave the company a “buy” rating in a research note on Wednesday, August 21st. Benchmark reissued a “buy” rating and set a $210.00 price objective on shares of NVIDIA in a research note on Wednesday, August 21st. Oppenheimer set a $190.00 price objective on NVIDIA and gave the company a “buy” rating in a research note on Friday, August 16th. BidaskClub raised NVIDIA from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $180.00 price objective (up previously from $170.00) on shares of NVIDIA in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-seven have given a buy rating to the stock. NVIDIA has a consensus rating of “Buy” and an average price target of $187.46.

NVDA opened at $196.86 on Friday. The company has a market cap of $118.81 billion, a P/E ratio of 50.94, a P/E/G ratio of 5.02 and a beta of 2.05. The business’s 50-day moving average price is $181.85 and its 200-day moving average price is $168.58. The company has a current ratio of 8.65, a quick ratio of 7.74 and a debt-to-equity ratio of 0.24. NVIDIA Co. has a 12 month low of $124.46 and a 12 month high of $222.00.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Thursday, August 15th. The computer hardware maker reported $1.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.37. The firm had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.55 billion. NVIDIA had a return on equity of 24.40% and a net margin of 26.93%. The company’s quarterly revenue was down 17.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.94 earnings per share. Equities research analysts forecast that NVIDIA Co. will post 4.07 earnings per share for the current fiscal year.

In other news, Director Dawn E. Hudson sold 5,000 shares of NVIDIA stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $171.73, for a total value of $858,650.00. Following the transaction, the director now owns 36,037 shares in the company, valued at $6,188,634.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Persis Drell sold 2,500 shares of NVIDIA stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $167.36, for a total value of $418,400.00. Following the completion of the transaction, the director now owns 18,184 shares in the company, valued at approximately $3,043,274.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,383 shares of company stock worth $11,625,217. Company insiders own 4.64% of the company’s stock.

About NVIDIA

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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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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