McIlrath & Eck LLC cut its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 38.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 303 shares of the computer hardware maker’s stock after selling 193 shares during the period. McIlrath & Eck LLC’s holdings in NVIDIA were worth $53,000 as of its most recent SEC filing.
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Several other institutional investors also recently made changes to their positions in NVDA. New England Investment & Retirement Group Inc. lifted its stake in NVIDIA by 2.0% in the third quarter. New England Investment & Retirement Group Inc. now owns 2,625 shares of the computer hardware maker’s stock valued at $457,000 after buying an additional 52 shares during the last quarter. First Personal Financial Services lifted its stake in NVIDIA by 16.0% in the third quarter. First Personal Financial Services now owns 413 shares of the computer hardware maker’s stock valued at $72,000 after buying an additional 57 shares during the last quarter. Gemmer Asset Management LLC lifted its stake in NVIDIA by 26.1% in the third quarter. Gemmer Asset Management LLC now owns 285 shares of the computer hardware maker’s stock valued at $50,000 after buying an additional 59 shares during the last quarter. PFG Advisors lifted its stake in NVIDIA by 2.5% in the third quarter. PFG Advisors now owns 2,579 shares of the computer hardware maker’s stock valued at $466,000 after buying an additional 63 shares during the last quarter. Finally, Hudock Capital Group LLC lifted its stake in NVIDIA by 21.4% in the third quarter. Hudock Capital Group LLC now owns 358 shares of the computer hardware maker’s stock valued at $62,000 after buying an additional 63 shares during the last quarter. 64.45% of the stock is owned by institutional investors and hedge funds.
In related news, Director James C. Gaither sold 10,000 shares of the 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 directly owns 4,279 shares in the company, valued at $780,361.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 31,357 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $179.01, for a total value 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 quarter. 4.64% of the stock is currently owned by company insiders.
A number of brokerages have weighed in on NVDA. Zacks Investment Research cut NVIDIA from a “buy” rating to a “hold” rating and set a $206.00 price objective for the company. in a research note on Wednesday, October 16th. Wells Fargo & Co boosted their price objective on NVIDIA from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Goldman Sachs Group boosted their price objective on NVIDIA from $179.00 to $192.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Craig Hallum boosted their price objective on NVIDIA from $165.00 to $200.00 and gave the company a “hold” rating in a research note on Monday, November 4th. They noted that the move was a valuation call. Finally, BidaskClub upgraded NVIDIA from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. NVIDIA presently has a consensus rating of “Buy” and an average target price of $189.15.
NVDA stock traded down $0.56 on Friday, reaching $207.78. 4,727,100 shares of the company’s stock were exchanged, compared to its average volume of 11,881,960. The stock has a fifty day moving average of $189.47 and a 200-day moving average of $169.78. NVIDIA Co. has a twelve month low of $124.46 and a twelve month high of $211.70. The firm has a market cap of $127.65 billion, a PE ratio of 34.23, a P/E/G ratio of 5.39 and a beta of 2.06. The company has a quick ratio of 7.74, a current ratio of 8.65 and a debt-to-equity ratio of 0.24.
NVIDIA (NASDAQ:NVDA) last released its earnings results on Thursday, August 15th. The computer hardware maker reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.37. NVIDIA had a return on equity of 24.40% and a net margin of 26.93%. The firm had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the prior year, the business posted $1.94 earnings per share. The firm’s revenue for the quarter was down 17.4% compared to the same quarter last year. On average, equities research analysts predict that NVIDIA Co. will post 4.07 EPS for the current fiscal year.
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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