Alps Advisors Inc. Has $2 Million Stake in NVIDIA Co. (NVDA)

Alps Advisors Inc. grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 74.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,123 shares of the computer hardware maker’s stock after acquiring an additional 3,051 shares during the quarter. Alps Advisors Inc.’s holdings in NVIDIA were worth $2,002,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Kwmg LLC acquired a new position in shares of NVIDIA in the 2nd quarter worth approximately $105,000. Legacy Financial Advisors Inc. boosted its holdings in shares of NVIDIA by 111.0% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 443 shares of the computer hardware maker’s stock worth $110,000 after acquiring an additional 233 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in shares of NVIDIA in the 3rd quarter worth approximately $124,000. Almanack Investment Partners LLC. acquired a new position in shares of NVIDIA in the 2nd quarter worth approximately $127,000. Finally, Ropes Wealth Advisors LLC boosted its holdings in shares of NVIDIA by 561.8% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 589 shares of the computer hardware maker’s stock worth $140,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 65.80% of the company’s stock.

NVDA stock opened at $185.62 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 6.66 and a current ratio of 7.41. The firm has a market capitalization of $120.56 billion, a PE ratio of 39.75, a P/E/G ratio of 2.60 and a beta of 1.64. NVIDIA Co. has a twelve month low of $176.01 and a twelve month high of $292.76.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.28. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.11 billion. NVIDIA had a return on equity of 54.18% and a net margin of 36.21%. The firm’s quarterly revenue was up 40.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 EPS. On average, analysts expect that NVIDIA Co. will post 7.15 earnings per share for the current fiscal year.

Several research analysts have recently commented on NVDA shares. Needham & Company LLC boosted their target price on NVIDIA from $325.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, September 14th. BidaskClub downgraded NVIDIA from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 18th. Goldman Sachs Group boosted their target price on NVIDIA from $310.00 to $324.00 and gave the stock a “buy” rating in a report on Tuesday, August 7th. Benchmark reissued a “buy” rating and issued a $310.00 target price (up from $280.00) on shares of NVIDIA in a report on Thursday, September 20th. Finally, Bank of America boosted their target price on NVIDIA from $340.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, September 25th. Twelve analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $290.52.

In other news, EVP Ajay K. Puri sold 90,831 shares of the stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $289.35, for a total value of $26,281,949.85. Following the transaction, the executive vice president now owns 184,001 shares of the company’s stock, valued at approximately $53,240,689.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 11,576 shares of the stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $266.31, for a total value of $3,082,804.56. Following the completion of the transaction, the chief financial officer now directly owns 297,482 shares in the company, valued at approximately $79,222,431.42. The disclosure for this sale can be found here. In the last three months, insiders sold 113,707 shares of company stock worth $32,347,973. 4.70% of the stock is currently owned by company insiders.

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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