Huntington National Bank increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,352 shares of the computer hardware maker’s stock after buying an additional 118 shares during the period. Huntington National Bank’s holdings in NVIDIA were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in NVDA. Marquette Asset Management LLC lifted its holdings in shares of NVIDIA by 416.7% in the third quarter. Marquette Asset Management LLC now owns 155 shares of the computer hardware maker’s stock valued at $27,000 after purchasing an additional 125 shares in the last quarter. Pacific Center for Financial Services lifted its holdings in shares of NVIDIA by 143.1% in the second quarter. Pacific Center for Financial Services now owns 158 shares of the computer hardware maker’s stock valued at $26,000 after purchasing an additional 93 shares in the last quarter. Investors Research Corp lifted its holdings in shares of NVIDIA by 313.0% in the third quarter. Investors Research Corp now owns 190 shares of the computer hardware maker’s stock valued at $33,000 after purchasing an additional 144 shares in the last quarter. Field & Main Bank purchased a new stake in shares of NVIDIA in the second quarter valued at about $33,000. Finally, American National Bank acquired a new position in shares of NVIDIA in the third quarter valued at approximately $35,000. 64.45% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on NVDA. Barclays cut their price objective on shares of NVIDIA from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. DZ Bank lowered shares of NVIDIA from a “hold” rating to a “sell” rating and set a $158.00 price objective for the company. in a research report on Friday, September 13th. BMO Capital Markets reissued a “market perform” rating and issued a $145.00 price objective on shares of NVIDIA in a research report on Friday, August 16th. Susquehanna Bancshares set a $190.00 price objective on shares of NVIDIA and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, ValuEngine raised shares of NVIDIA from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $189.15.
NVDA stock traded down $0.56 on Friday, hitting $207.78. 4,727,100 shares of the company were exchanged, compared to its average volume of 11,881,960. NVIDIA Co. has a twelve month low of $124.46 and a twelve month high of $211.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 8.65 and a quick ratio of 7.74. The stock has a market capitalization of $127.65 billion, a price-to-earnings ratio of 34.23, a price-to-earnings-growth ratio of 5.39 and a beta of 2.06. The business’s fifty day moving average is $189.47 and its two-hundred day moving average is $169.78.
NVIDIA (NASDAQ:NVDA) last issued its earnings results on Thursday, August 15th. The computer hardware maker reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.37. The company had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.55 billion. NVIDIA had a net margin of 26.93% and a return on equity of 24.40%. The firm’s revenue was down 17.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.94 earnings per share. Equities research analysts expect that NVIDIA Co. will post 4.07 earnings per share for the current year.
NVIDIA Company Profile
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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