Beacon Financial Group Takes Position in NVIDIA Co. (NASDAQ:NVDA)

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Beacon Financial Group bought a new stake in NVIDIA Co. (NASDAQ:NVDA) in the second quarter, Holdings Channel reports. The institutional investor bought 2,727 shares of the computer hardware maker’s stock, valued at approximately $448,000.

Other large investors have also made changes to their positions in the company. Thor Advisors LLC acquired a new position in shares of NVIDIA during the first quarter worth about $29,000. Harvest Group Wealth Management LLC acquired a new position in shares of NVIDIA during the first quarter worth about $30,000. Truvestments Capital LLC acquired a new position in shares of NVIDIA during the first quarter worth about $33,000. Creative Financial Designs Inc. ADV increased its stake in shares of NVIDIA by 181.2% during the first quarter. Creative Financial Designs Inc. ADV now owns 194 shares of the computer hardware maker’s stock worth $35,000 after acquiring an additional 125 shares during the period. Finally, Paragon Capital Management LLC acquired a new position in shares of NVIDIA during the first quarter worth about $36,000. 67.42% of the stock is owned by institutional investors and hedge funds.

Shares of NVDA opened at $173.38 on Friday. The company has a quick ratio of 7.78, a current ratio of 8.98 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $108.80 billion, a P/E ratio of 28.56, a price-to-earnings-growth ratio of 4.57 and a beta of 2.09. The firm’s 50 day moving average price is $158.88. NVIDIA Co. has a 1 year low of $124.46 and a 1 year high of $292.76.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, May 16th. The computer hardware maker reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.07. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.20 billion. NVIDIA had a net margin of 30.68% and a return on equity of 31.27%. The company’s quarterly revenue was down 30.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.05 earnings per share. As a group, equities research analysts expect that NVIDIA Co. will post 4.16 earnings per share for the current fiscal year.

NVDA has been the topic of several recent analyst reports. Stifel Nicolaus initiated coverage on shares of Theratechnologies in a research report on Tuesday, May 14th. They set a “buy” rating and a C$15.00 target price on the stock. Zacks Investment Research lowered shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Wedbush upgraded shares of Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating in a research report on Wednesday, June 26th. Royal Bank of Canada upped their target price on shares of NVIDIA to $200.00 and gave the stock an “outperform” rating in a research report on Monday, May 13th. Finally, Morgan Stanley set a $20.00 target price on shares of C&J Energy Services and gave the stock a “hold” rating in a research report on Monday, May 13th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $194.34.

In related news, Director Harvey C. Jones sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $145.10, for a total transaction of $14,510,000.00. Following the transaction, the director now owns 32,983 shares of the company’s stock, valued at $4,785,833.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 2,236 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $164.01, for a total transaction of $366,726.36. Following the transaction, the chief financial officer now directly owns 239,710 shares in the company, valued at approximately $39,314,837.10. The disclosure for this sale can be found here. Insiders have sold 104,736 shares of company stock worth $15,293,726 in the last three months. Insiders own 4.64% of the company’s stock.

About NVIDIA

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.

Further Reading: What is a Fiduciary?

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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