Sage Rhino Capital LLC purchased a new position in NVIDIA Co. (NASDAQ:NVDA) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 592 shares of the computer hardware maker’s stock, valued at approximately $225,000.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its holdings in NVIDIA by 6.1% during the 1st quarter. BlackRock Inc. now owns 42,753,245 shares of the computer hardware maker’s stock worth $11,269,755,000 after buying an additional 2,439,025 shares during the period. Wellington Management Group LLP raised its holdings in NVIDIA by 848.6% during the 1st quarter. Wellington Management Group LLP now owns 1,870,661 shares of the computer hardware maker’s stock worth $493,106,000 after buying an additional 1,673,465 shares during the period. Advisor Group Holdings Inc. acquired a new stake in NVIDIA during the 1st quarter worth about $55,241,000. Alliancebernstein L.P. raised its holdings in NVIDIA by 109.1% during the 1st quarter. Alliancebernstein L.P. now owns 2,924,947 shares of the computer hardware maker’s stock worth $771,016,000 after buying an additional 1,525,841 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in NVIDIA by 6,663.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,127,255 shares of the computer hardware maker’s stock worth $297,145,000 after buying an additional 1,110,587 shares during the period. Hedge funds and other institutional investors own 68.80% of the company’s stock.

Shares of NVDA stock traded up $0.03 during trading hours on Friday, reaching $424.59. 9,657,150 shares of the company’s stock were exchanged, compared to its average volume of 8,772,753. NVIDIA Co. has a fifty-two week low of $147.39 and a fifty-two week high of $431.69. The stock has a market capitalization of $261.12 billion, a P/E ratio of 79.36, a P/E/G ratio of 3.83 and a beta of 1.35. The business has a fifty day moving average price of $391.19 and a 200-day moving average price of $308.27. The company has a quick ratio of 9.70, a current ratio of 10.29 and a debt-to-equity ratio of 0.57.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, May 21st. The computer hardware maker reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.44. NVIDIA had a return on equity of 28.59% and a net margin of 28.17%. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3 billion. During the same period in the previous year, the company earned $0.88 earnings per share. The company’s quarterly revenue was up 38.7% compared to the same quarter last year. As a group, research analysts expect that NVIDIA Co. will post 6.57 EPS for the current fiscal year.

Several research firms have issued reports on NVDA. Raymond James boosted their price objective on NVIDIA from $330.00 to $370.00 and gave the stock an “outperform” rating in a report on Friday, May 22nd. Nomura lifted their target price on NVIDIA from $230.00 to $260.00 and gave the company a “reduce” rating in a research note on Friday, May 22nd. Royal Bank of Canada lifted their target price on NVIDIA from $385.00 to $461.00 and gave the company an “outperform” rating in a research note on Friday, July 10th. Cascend Securities lifted their target price on NVIDIA from $370.00 to $380.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Finally, Barclays lifted their target price on NVIDIA from $390.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $368.89.

In related news, Director A Brooke Seawell sold 629 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $366.27, for a total value of $230,383.83. Following the completion of the transaction, the director now directly owns 16,159 shares in the company, valued at $5,918,556.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 12,692 shares of the company’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $405.60, for a total value of $5,147,875.20. Following the completion of the transaction, the executive vice president now owns 61,983 shares of the company’s stock, valued at $25,140,304.80. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 24 shares of company stock valued at $7,836 and have sold 263,430 shares valued at $98,818,407. 4.47% of the stock is owned by insiders.

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.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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