Commerce Bank boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 22.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,374 shares of the computer hardware maker’s stock after purchasing an additional 6,587 shares during the quarter. Commerce Bank’s holdings in NVIDIA were worth $9,324,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Accurate Investment Solutions Inc. increased its holdings in shares of NVIDIA by 111.1% during the first quarter. Accurate Investment Solutions Inc. now owns 95 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 50 shares during the period. PrairieView Partners LLC acquired a new stake in NVIDIA during the first quarter worth approximately $26,000. Howard Wealth Management LLC acquired a new stake in NVIDIA during the fourth quarter worth approximately $28,000. Stonebridge Financial Planning Group LLC bought a new position in NVIDIA during the 4th quarter worth $28,000. Finally, Archer Investment Corp acquired a new position in NVIDIA in the 4th quarter valued at $29,000. 66.68% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:NVDA traded up $8.30 during mid-day trading on Friday, hitting $359.31. The company had a trading volume of 6,461,828 shares, compared to its average volume of 12,223,792. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.67 and a quick ratio of 7.13. NVIDIA Co. has a one year low of $132.60 and a one year high of $363.50. The firm has a fifty day moving average price of $290.96 and a 200 day moving average price of $251.57. The company has a market capitalization of $220.71 billion, a PE ratio of 79.91, a price-to-earnings-growth ratio of 3.76 and a beta of 1.33.
NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, May 21st. The computer hardware maker reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.44. NVIDIA had a net margin of 25.60% and a return on equity of 26.08%. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period last year, the company posted $0.88 earnings per share. The business’s quarterly revenue was up 38.7% on a year-over-year basis. Research analysts expect that NVIDIA Co. will post 6.29 earnings per share for the current fiscal year.
In related news, Director Robert K. Burgess sold 20,000 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $222.33, for a total value of $4,446,600.00. Following the transaction, the director now directly owns 13,935 shares in the company, valued at approximately $3,098,168.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James C. Gaither sold 15,669 shares of the company’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $269.41, for a total value of $4,221,385.29. Following the sale, the director now owns 2,221 shares in the company, valued at $598,359.61. The disclosure for this sale can be found here. Insiders sold a total of 105,669 shares of company stock valued at $27,025,985 over the last ninety days. 4.64% of the stock is currently owned by corporate insiders.
A number of research analysts recently commented on the company. Piper Sandler boosted their price target on NVIDIA from $350.00 to $390.00 and gave the company an “overweight” rating in a research note on Friday. Zacks Investment Research lowered shares of NVIDIA from a “buy” rating to a “hold” rating and set a $297.00 price target on the stock. in a research report on Monday, May 4th. Benchmark raised their target price on NVIDIA from $320.00 to $410.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada boosted their price target on NVIDIA from $350.00 to $385.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, BidaskClub raised NVIDIA from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 1st. Four analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company. NVIDIA currently has an average rating of “Buy” and an average price target of $339.59.
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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