Monte Financial Group LLC Takes $451,000 Position in NVIDIA Co. (NASDAQ:NVDA)

Monte Financial Group LLC purchased a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,593 shares of the computer hardware maker’s stock, valued at approximately $451,000.

Several other institutional investors also recently bought and sold shares of NVDA. Nuveen Asset Management LLC raised its stake in shares of NVIDIA by 2,475.9% during the second quarter. Nuveen Asset Management LLC now owns 3,002,209 shares of the computer hardware maker’s stock valued at $493,052,000 after acquiring an additional 2,885,660 shares in the last quarter. Thoroughbred Financial Services LLC raised its stake in shares of NVIDIA by 22,776.5% during the second quarter. Thoroughbred Financial Services LLC now owns 883,719 shares of the computer hardware maker’s stock valued at $88,372,000 after acquiring an additional 879,856 shares in the last quarter. Jennison Associates LLC raised its stake in shares of 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 acquiring an additional 832,508 shares in the last quarter. Renaissance Technologies LLC bought a new position in NVIDIA in the second quarter worth approximately $101,986,000. Finally, Vanguard Group Inc. raised its stake in NVIDIA by 1.2% in the second quarter. Vanguard Group Inc. now owns 45,990,868 shares of the computer hardware maker’s stock worth $7,553,081,000 after buying an additional 528,040 shares in the last quarter. 64.51% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on the stock. UBS Group boosted their price objective on shares of NVIDIA from $195.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday. Barclays reduced their price objective on shares of NVIDIA from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price objective on shares of NVIDIA in a research note on Friday, August 16th. Goldman Sachs Group boosted their price objective on shares of NVIDIA from $179.00 to $192.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, Wedbush set a $184.00 price objective on shares of NVIDIA and gave the stock a “buy” rating in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-seven have given a buy rating to the company’s stock. NVIDIA has a consensus rating of “Buy” and an average price target of $192.70.

NASDAQ NVDA traded up $1.43 on Tuesday, hitting $209.61. The stock had a trading volume of 6,923,480 shares, compared to its average volume of 11,832,887. The business’s fifty day moving average price is $190.87 and its 200 day moving average price is $169.99. The company has a debt-to-equity ratio of 0.24, a current ratio of 8.65 and a quick ratio of 7.74. NVIDIA Co. has a 52-week low of $124.46 and a 52-week high of $211.86. The stock has a market cap of $126.54 billion, a price-to-earnings ratio of 34.53, a price-to-earnings-growth ratio of 5.34 and a beta of 2.06.

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

In other news, Director Persis Drell sold 165 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $180.45, for a total transaction of $29,774.25. Following the sale, the director now directly owns 18,019 shares of the company’s stock, valued at $3,251,528.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Colette Kress sold 31,357 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $179.01, for a total transaction of $5,613,216.57. The disclosure for this sale can be found here. Insiders have sold 66,383 shares of company stock worth $11,625,217 over the last three months. Corporate insiders own 4.64% of the company’s stock.

NVIDIA Company Profile

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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