Hayek Kallen Investment Management grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 13.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,833 shares of the computer hardware maker’s stock after purchasing an additional 1,073 shares during the quarter. Hayek Kallen Investment Management’s holdings in NVIDIA were worth $1,538,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in NVDA. Nuveen Asset Management LLC raised its holdings in shares of NVIDIA by 2,475.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,002,209 shares of the computer hardware maker’s stock valued at $493,052,000 after purchasing an additional 2,885,660 shares in the last quarter. Thoroughbred Financial Services LLC raised its holdings in shares of NVIDIA by 22,776.5% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 883,719 shares of the computer hardware maker’s stock valued at $88,372,000 after purchasing an additional 879,856 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of NVIDIA by 10.6% during the 2nd quarter. Jennison Associates LLC now owns 8,690,058 shares of the computer hardware maker’s stock valued at $1,427,168,000 after purchasing an additional 832,508 shares in the last quarter. Renaissance Technologies LLC bought a new position in NVIDIA in the 2nd quarter worth $101,986,000. Finally, Vanguard Group Inc. raised its holdings in NVIDIA by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 45,990,868 shares of the computer hardware maker’s stock worth $7,553,081,000 after acquiring an additional 528,040 shares during the period. Institutional investors and hedge funds own 64.45% of the company’s stock.
Shares of NASDAQ:NVDA traded down $0.56 on Friday, hitting $207.78. 4,727,100 shares of the company were exchanged, compared to its average volume of 11,881,960. NVIDIA Co. has a one year low of $124.46 and a one year high of $211.70. The company’s 50 day moving average price is $189.47 and its two-hundred day moving average price is $169.78. The firm has a market capitalization of $127.65 billion, a price-to-earnings ratio of 34.23, a PEG ratio of 5.39 and a beta of 2.06. The company has a debt-to-equity ratio of 0.24, a quick ratio of 7.74 and a current ratio of 8.65.
NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, August 15th. The computer hardware maker reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the business earned $1.94 earnings per share. NVIDIA’s quarterly revenue was down 17.4% on a year-over-year basis. Research analysts predict that NVIDIA Co. will post 4.07 earnings per share for the current year.
Several brokerages recently commented on NVDA. Susquehanna Bancshares set a $190.00 target price on shares of NVIDIA and gave the stock a “buy” rating in a report on Friday, August 16th. Goldman Sachs Group lifted their target price on shares of NVIDIA from $179.00 to $192.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. SunTrust Banks lifted their target price on shares of NVIDIA from $210.00 to $216.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Mizuho reiterated a “buy” rating and issued a $185.00 target price (down previously from $192.00) on shares of NVIDIA in a report on Friday, August 16th. Finally, Piper Jaffray Companies set a $200.00 target price on shares of NVIDIA and gave the stock a “buy” rating in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $189.15.
In related news, Director Persis Drell sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $167.36, for a total transaction of $418,400.00. Following the completion of the sale, the director now directly owns 18,184 shares of the company’s stock, valued at $3,043,274.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael G. Mccaffery sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $165.97, for a total transaction of $2,489,550.00. Following the sale, the director now directly owns 27,579 shares of the company’s stock, valued at $4,577,286.63. 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 owned by company insiders.
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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