Bowling Portfolio Management LLC bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,328 shares of the computer hardware maker’s stock, valued at approximately $1,801,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Hoover Financial Advisors Inc. bought a new stake in NVIDIA in the second quarter valued at $32,000. Atlantic Trust LLC increased its stake in NVIDIA by 46.9% in the second quarter. Atlantic Trust LLC now owns 94 shares of the computer hardware maker’s stock valued at $36,000 after purchasing an additional 30 shares in the last quarter. Ellevest Inc. increased its stake in NVIDIA by 256.7% in the second quarter. Ellevest Inc. now owns 107 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 77 shares in the last quarter. Avondale Wealth Management bought a new stake in NVIDIA in the third quarter valued at $49,000. Finally, Blue Bell Private Wealth Management LLC bought a new stake in NVIDIA in the second quarter valued at $50,000. 68.11% of the stock is owned by institutional investors and hedge funds.

NVDA opened at $552.46 on Friday. The company has a quick ratio of 5.51, a current ratio of 6.09 and a debt-to-equity ratio of 0.50. The stock has a market cap of $340.87 billion, a price-to-earnings ratio of 101.56, a PEG ratio of 4.10 and a beta of 1.55. NVIDIA Co. has a twelve month low of $180.68 and a twelve month high of $589.07. The company’s 50-day moving average price is $521.45 and its two-hundred day moving average price is $401.87.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 19th. The computer hardware maker reported $2.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.21. NVIDIA had a net margin of 25.93% and a return on equity of 30.41%. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the previous year, the company earned $1.24 earnings per share. The company’s quarterly revenue was up 50.1% on a year-over-year basis. As a group, sell-side analysts anticipate that NVIDIA Co. will post 6.93 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Wednesday, September 2nd were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Tuesday, September 1st. NVIDIA’s dividend payout ratio (DPR) is currently 13.94%.

NVDA has been the subject of several research analyst reports. Morgan Stanley lifted their price target on shares of NVIDIA from $380.00 to $507.00 and gave the company an “equal weight” rating in a research note on Thursday, August 20th. They noted that the move was a valuation call. Piper Sandler boosted their target price on shares of NVIDIA from $390.00 to $540.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. Cascend Securities boosted their target price on shares of NVIDIA from $560.00 to $590.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Wells Fargo & Company boosted their target price on shares of NVIDIA from $535.00 to $605.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 1st. Finally, Jefferies Financial Group boosted their target price on shares of NVIDIA from $570.00 to $680.00 and gave the stock a “buy” rating in a research report on Monday, September 14th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirty-one have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $521.49.

In related news, Director Tench Coxe sold 629 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $533.30, for a total transaction of $335,445.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director A Brooke Seawell sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $513.77, for a total transaction of $5,137,700.00. Following the sale, the director now directly owns 10,712 shares in the company, valued at approximately $5,503,504.24. The disclosure for this sale can be found here. In the last three months, insiders sold 173,320 shares of company stock worth $87,129,970. Insiders own 4.47% of the company’s stock.

NVIDIA 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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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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