FLC Capital Advisors decreased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 8.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,027 shares of the computer hardware maker’s stock after selling 100 shares during the quarter. FLC Capital Advisors’ holdings in NVIDIA were worth $561,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NVDA. Leisure Capital Management acquired a new position in shares of NVIDIA during the 3rd quarter worth about $246,000. Meridian Investment Counsel Inc. acquired a new position in NVIDIA during the third quarter worth $222,000. Concorde Asset Management LLC grew its holdings in NVIDIA by 5.3% in the 3rd quarter. Concorde Asset Management LLC now owns 638 shares of the computer hardware maker’s stock valued at $345,000 after buying an additional 32 shares in the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of NVIDIA in the 3rd quarter worth $3,369,000. Finally, LSV Asset Management increased its stake in shares of NVIDIA by 22.7% in the 3rd quarter. LSV Asset Management now owns 2,700 shares of the computer hardware maker’s stock worth $1,461,000 after acquiring an additional 500 shares during the last quarter. 68.11% of the stock is owned by institutional investors.
Several brokerages recently issued reports on NVDA. Citigroup boosted their price objective on shares of NVIDIA from $392.00 to $540.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Jefferies Financial Group lifted their target price on NVIDIA from $570.00 to $680.00 and gave the company a “buy” rating in a report on Monday, September 14th. Sanford C. Bernstein lifted their price objective on NVIDIA from $415.00 to $545.00 and gave the company an “outperform” rating in a research note on Thursday, August 20th. BMO Capital Markets upped their target price on shares of NVIDIA from $565.00 to $650.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 6th. Finally, BofA Securities raised their price objective on shares of NVIDIA from $600.00 to $650.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and thirty-two have issued a buy rating to the company. NVIDIA currently has a consensus rating of “Buy” and an average price target of $522.19.
NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 19th. The computer hardware maker reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.21. NVIDIA had a return on equity of 30.41% and a net margin of 25.93%. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the prior year, the firm earned $1.24 EPS. NVIDIA’s quarterly revenue was up 50.1% on a year-over-year basis. As a group, equities research analysts predict that NVIDIA Co. will post 6.93 EPS for the current fiscal year.
In other news, CEO Jen Hsun Huang sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $489.84, for a total value of $48,984,000.00. Following the completion of the transaction, the chief executive officer now owns 1,370,600 shares of the company’s stock, valued at $671,374,704. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stephen C. Neal bought 435 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The shares were purchased at an average price of $498.23 per share, for a total transaction of $216,730.05. Following the transaction, the director now owns 3,963 shares of the company’s stock, valued at approximately $1,974,485.49. The disclosure for this purchase can be found here. Insiders sold a total of 212,654 shares of company stock valued at $110,671,595 in the last three months. 4.47% of the stock is currently owned by corporate insiders.
NVIDIA Corporation operates as a visual computing company worldwide. It operates in 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 gaming; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for artificial intelligence (AI) utilizing deep learning, accelerated computing, and general purpose computing; GRID, which provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and EGX for accelerated AI computing at the edge.
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