Dillon & Associates Inc. Takes $1.78 Million Position in NVIDIA Co. (NVDA)

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Dillon & Associates Inc. bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,526 shares of the computer hardware maker’s stock, valued at approximately $1,784,000.

Other hedge funds have also bought and sold shares of the company. Adirondack Trust Co. increased its stake in NVIDIA by 146.1% during the first quarter. Adirondack Trust Co. now owns 443 shares of the computer hardware maker’s stock worth $100,000 after acquiring an additional 263 shares during the last quarter. Legacy Financial Advisors Inc. increased its stake in NVIDIA by 111.0% during the second 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 during the last quarter. Bruderman Asset Management LLC acquired a new stake in NVIDIA during the first quarter worth $127,000. Wagner Wealth Management LLC increased its stake in NVIDIA by 343.3% during the first quarter. Wagner Wealth Management LLC now owns 665 shares of the computer hardware maker’s stock worth $154,000 after acquiring an additional 515 shares during the last quarter. Finally, D. Scott Neal Inc. increased its stake in NVIDIA by 152.1% during the first quarter. D. Scott Neal Inc. now owns 663 shares of the computer hardware maker’s stock worth $154,000 after acquiring an additional 400 shares during the last quarter. 65.33% of the stock is owned by institutional investors.

NVDA has been the subject of several recent analyst reports. UBS Group raised NVIDIA from a “market perform” rating to an “outperform” rating in a research note on Friday. Royal Bank of Canada raised their target price on NVIDIA to $300.00 and gave the stock an “outperform” rating in a research note on Friday, May 11th. Citigroup raised their target price on NVIDIA from $300.00 to $380.00 and gave the stock a “buy” rating in a research note on Friday, May 11th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $265.00 target price on shares of NVIDIA in a research note on Friday. Finally, Wells Fargo & Co raised NVIDIA from an “underperform” rating to an “outperform” rating and raised their target price for the stock from $140.00 to $315.00 in a research note on Tuesday, August 14th. Eight analysts have rated the stock with a hold rating and thirty have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $281.58.

In related news, Director Harvey C. Jones sold 100,000 shares of NVIDIA stock in a transaction on Tuesday, June 26th. The stock was sold at an average price of $242.11, for a total value of $24,211,000.00. Following the completion of the transaction, the director now directly owns 31,725 shares in the company, valued at $7,680,939.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ajay K. Puri sold 4,643 shares of NVIDIA stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $266.54, for a total value of $1,237,545.22. Following the completion of the transaction, the executive vice president now owns 295,635 shares of the company’s stock, valued at $78,798,552.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 269,632 shares of company stock valued at $67,615,033. 4.70% of the stock is currently owned by company insiders.

Shares of NASDAQ NVDA opened at $244.82 on Friday. NVIDIA Co. has a twelve month low of $157.37 and a twelve month high of $269.20. The company has a quick ratio of 7.82, a current ratio of 8.54 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $154.66 billion, a PE ratio of 52.42, a PEG ratio of 3.51 and a beta of 1.56.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data 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 business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.11 billion. NVIDIA had a return on equity of 52.18% and a net margin of 34.44%. The company’s revenue was up 40.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 earnings per share. research analysts anticipate that NVIDIA Co. will post 7.08 EPS for the current year.

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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