Skandinaviska Enskilda Banken AB publ lessened its stake in NVIDIA Co. (NASDAQ:NVDA) by 6.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,010 shares of the computer hardware maker’s stock after selling 11,677 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in NVIDIA were worth $49,181,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Holderness Investments Co. raised its position in shares of NVIDIA by 3.2% during the 2nd quarter. Holderness Investments Co. now owns 6,481 shares of the computer hardware maker’s stock valued at $1,535,000 after acquiring an additional 200 shares during the last quarter. Grimes & Company Inc. raised its position in shares of NVIDIA by 9.0% during the 2nd quarter. Grimes & Company Inc. now owns 2,480 shares of the computer hardware maker’s stock valued at $588,000 after acquiring an additional 205 shares during the last quarter. Charter Trust Co. raised its position in shares of NVIDIA by 4.9% during the 2nd quarter. Charter Trust Co. now owns 4,471 shares of the computer hardware maker’s stock valued at $1,059,000 after acquiring an additional 207 shares during the last quarter. Concorde Asset Management LLC raised its position in shares of NVIDIA by 16.3% during the 2nd quarter. Concorde Asset Management LLC now owns 1,481 shares of the computer hardware maker’s stock valued at $351,000 after acquiring an additional 208 shares during the last quarter. Finally, LVW Advisors LLC increased its position in shares of NVIDIA by 11.7% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 65.71% of the company’s stock.
In other news, insider Michael Byron sold 11,257 shares of the stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $263.94, for a total transaction of $2,971,172.58. Following the completion of the transaction, the insider now directly owns 81,414 shares in the company, valued at approximately $21,488,411.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ajay K. Puri sold 90,831 shares of the stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $289.35, for a total transaction of $26,281,949.85. Following the transaction, the executive vice president now owns 184,001 shares of the company’s stock, valued at $53,240,689.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,707 shares of company stock valued at $32,347,973. Company insiders own 4.70% of the company’s stock.
Shares of NASDAQ NVDA opened at $205.67 on Friday. The firm has a market capitalization of $129.98 billion, a P/E ratio of 44.04, a P/E/G ratio of 2.80 and a beta of 2.01. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.41 and a quick ratio of 6.66. NVIDIA Co. has a 1-year low of $176.01 and a 1-year high of $292.76.
NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.28. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.11 billion. NVIDIA had a net margin of 36.21% and a return on equity of 54.18%. The company’s revenue for the quarter was up 40.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 EPS. Sell-side analysts expect that NVIDIA Co. will post 7.15 earnings per share for the current year.
A number of research firms recently commented on NVDA. Needham & Company LLC upped their price objective on shares of NVIDIA from $325.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, September 14th. Evercore ISI upped their price objective on shares of NVIDIA from $300.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, September 28th. Morgan Stanley restated an “overweight” rating and issued a $273.00 price objective on shares of NVIDIA in a research report on Friday, August 17th. Bank of America lowered their price objective on shares of NVIDIA from $360.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, October 25th. Finally, Cowen lowered their price objective on shares of NVIDIA from $325.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, August 17th. Eleven analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. NVIDIA has an average rating of “Buy” and an average price target of $289.82.
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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.
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