6,274 Shares in NVIDIA Co. (NVDA) Purchased by Bank of The West

Bank of The West bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,274 shares of the computer hardware maker’s stock, valued at approximately $1,763,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NVDA. Holderness Investments Co. increased its stake in NVIDIA by 3.2% in the second quarter. Holderness Investments Co. now owns 6,481 shares of the computer hardware maker’s stock valued at $1,535,000 after purchasing an additional 200 shares in the last quarter. Grimes & Company Inc. grew its holdings in shares of NVIDIA by 9.0% during the second quarter. Grimes & Company Inc. now owns 2,480 shares of the computer hardware maker’s stock valued at $588,000 after buying an additional 205 shares during the last quarter. Charter Trust Co. grew its holdings in shares of NVIDIA by 4.9% during the second quarter. Charter Trust Co. now owns 4,471 shares of the computer hardware maker’s stock valued at $1,059,000 after buying an additional 207 shares during the last quarter. Concorde Asset Management LLC grew its holdings in shares of NVIDIA by 16.3% during the second quarter. Concorde Asset Management LLC now owns 1,481 shares of the computer hardware maker’s stock valued at $351,000 after buying an additional 208 shares during the last quarter. Finally, LVW Advisors LLC grew its holdings in shares of NVIDIA by 11.7% during the second quarter. LVW Advisors LLC now owns 2,010 shares of the computer hardware maker’s stock valued at $476,000 after buying an additional 210 shares during the last quarter. 65.71% of the stock is owned by institutional investors and hedge funds.

NVIDIA stock opened at $211.06 on Wednesday. NVIDIA Co. has a fifty-two week low of $176.01 and a fifty-two week high of $292.76. The stock has a market cap of $130.67 billion, a P/E ratio of 45.19, a PEG ratio of 2.82 and a beta of 2.01. The company has a debt-to-equity ratio of 0.23, a quick ratio of 6.66 and a current ratio of 7.41.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results 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 business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.11 billion. NVIDIA had a net margin of 36.21% and a return on equity of 54.18%. The firm’s revenue for the quarter was up 40.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 earnings per share. As a group, research analysts anticipate that NVIDIA Co. will post 7.15 earnings per share for the current year.

A number of research analysts have recently issued reports on the stock. BidaskClub cut shares of NVIDIA from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 18th. Stifel Nicolaus reiterated a “hold” rating and set a $250.00 price objective (up from $243.00) on shares of NVIDIA in a report on Friday, August 17th. ValuEngine cut shares of NVIDIA from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Oppenheimer upgraded shares of NVIDIA from a “market perform” rating to an “outperform” rating and set a $310.00 price objective for the company in a report on Friday, August 17th. Finally, Zacks Investment Research cut shares of NVIDIA from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. Eleven investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $290.21.

In other NVIDIA news, insider Michael Byron sold 11,257 shares of the business’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $263.94, for a total value of $2,971,172.58. Following the transaction, the insider now directly owns 81,414 shares in the company, valued at $21,488,411.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 90,831 shares of the business’s stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $289.35, for a total transaction of $26,281,949.85. Following the completion of the transaction, the executive vice president now owns 184,001 shares in the company, valued at $53,240,689.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,707 shares of company stock worth $32,347,973. Corporate insiders own 4.70% of the company’s stock.

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NVIDIA 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.

Further Reading: Technical Analysis

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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