Fagan Associates Inc. Has $4.10 Million Position in NVIDIA Co. (NVDA)

Fagan Associates Inc. lessened its holdings in NVIDIA Co. (NASDAQ:NVDA) by 11.3% during the second quarter, Holdings Channel reports. The fund owned 17,286 shares of the computer hardware maker’s stock after selling 2,210 shares during the quarter. NVIDIA accounts for about 1.8% of Fagan Associates Inc.’s investment portfolio, making the stock its 14th biggest holding. Fagan Associates Inc.’s holdings in NVIDIA were worth $4,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of NVIDIA by 1.2% in the 1st quarter. BlackRock Inc. now owns 38,108,394 shares of the computer hardware maker’s stock worth $8,825,523,000 after acquiring an additional 461,007 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of NVIDIA by 18.8% in the 2nd quarter. Jennison Associates LLC now owns 7,800,112 shares of the computer hardware maker’s stock worth $1,847,847,000 after acquiring an additional 1,234,191 shares during the last quarter. Edgewood Management LLC raised its holdings in shares of NVIDIA by 3.4% in the 1st quarter. Edgewood Management LLC now owns 4,897,695 shares of the computer hardware maker’s stock worth $1,134,257,000 after acquiring an additional 161,896 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in NVIDIA by 4.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,624,015 shares of the computer hardware maker’s stock worth $858,530,000 after purchasing an additional 161,966 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in NVIDIA by 12.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,303,284 shares of the computer hardware maker’s stock worth $545,648,000 after purchasing an additional 259,300 shares in the last quarter. Institutional investors own 65.33% of the company’s stock.

NVDA has been the subject of a number of recent analyst reports. Rosenblatt Securities upped their price objective on shares of NVIDIA from $300.00 to $315.00 in a research report on Friday, May 11th. B. Riley upped their price objective on shares of NVIDIA from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, May 11th. Bank of America reaffirmed a “buy” rating and issued a $340.00 price objective on shares of NVIDIA in a research report on Friday, May 11th. SunTrust Banks upped their price objective on shares of NVIDIA to $316.00 and gave the stock a “buy” rating in a research report on Friday, May 11th. Finally, Citigroup upped their price objective on shares of NVIDIA from $300.00 to $380.00 and gave the stock a “buy” rating in a research report on Friday, May 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $273.91.

In other news, EVP Ajay K. Puri sold 4,643 shares of the stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $266.54, for a total transaction of $1,237,545.22. Following the completion of the transaction, the executive vice president now directly owns 295,635 shares of the company’s stock, valued at approximately $78,798,552.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harvey C. Jones sold 100,000 shares of the stock in a transaction that occurred on Tuesday, June 26th. The shares were sold at an average price of $242.11, for a total transaction of $24,211,000.00. Following the transaction, the director now directly owns 31,725 shares of the company’s stock, valued at $7,680,939.75. The disclosure for this sale can be found here. Insiders have sold a total of 269,632 shares of company stock valued at $67,615,033 over the last three months. Insiders own 4.70% of the company’s stock.

NVIDIA stock opened at $256.12 on Tuesday. NVIDIA Co. has a twelve month low of $157.37 and a twelve month high of $269.20. The company has a market cap of $154.66 billion, a PE ratio of 54.84, a P/E/G ratio of 3.51 and a beta of 1.56. The company has a quick ratio of 7.82, a current ratio of 8.54 and a debt-to-equity ratio of 0.26.

NVIDIA Company Profile

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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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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