McIlrath & Eck LLC Sells 193 Shares of NVIDIA Co. (NASDAQ:NVDA)

McIlrath & Eck LLC cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 38.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 303 shares of the computer hardware maker’s stock after selling 193 shares during the period. McIlrath & Eck LLC’s holdings in NVIDIA were worth $53,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of NVIDIA by 1.2% during the second quarter. Vanguard Group Inc. now owns 45,990,868 shares of the computer hardware maker’s stock valued at $7,553,081,000 after buying an additional 528,040 shares during the last quarter. Jennison Associates LLC lifted its position in shares of NVIDIA by 10.6% during the second quarter. Jennison Associates LLC now owns 8,690,058 shares of the computer hardware maker’s stock valued at $1,427,168,000 after buying an additional 832,508 shares during the last quarter. Edgewood Management LLC lifted its position in shares of NVIDIA by 0.4% during the second quarter. Edgewood Management LLC now owns 7,890,343 shares of the computer hardware maker’s stock valued at $1,295,831,000 after buying an additional 31,623 shares during the last quarter. Invesco Ltd. lifted its position in shares of NVIDIA by 4.3% during the second quarter. Invesco Ltd. now owns 7,364,460 shares of the computer hardware maker’s stock valued at $1,209,466,000 after buying an additional 304,337 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of NVIDIA by 3.3% during the second quarter. Northern Trust Corp now owns 7,183,137 shares of the computer hardware maker’s stock valued at $1,179,686,000 after buying an additional 230,497 shares during the last quarter. Hedge funds and other institutional investors own 64.45% of the company’s stock.

In other news, CFO Colette Kress sold 31,357 shares of NVIDIA stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $179.01, for a total transaction of $5,613,216.57. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Persis Drell sold 2,500 shares of NVIDIA stock in a transaction on Monday, August 19th. The stock was sold at an average price of $167.36, for a total value of $418,400.00. Following the transaction, the director now owns 18,184 shares in the company, valued at approximately $3,043,274.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,383 shares of company stock worth $11,625,217. Insiders own 4.64% of the company’s stock.

NASDAQ:NVDA traded down $0.56 during midday trading on Friday, hitting $207.78. The company’s stock had a trading volume of 4,727,100 shares, compared to its average volume of 11,881,960. The firm’s 50 day moving average is $189.47 and its 200-day moving average is $169.78. 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 firm has a market cap of $127.65 billion, a P/E ratio of 34.23, a P/E/G ratio of 5.39 and a beta of 2.06. NVIDIA Co. has a fifty-two week low of $124.46 and a fifty-two week high of $211.70.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, August 15th. The computer hardware maker reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.37. NVIDIA had a return on equity of 24.40% and a net margin of 26.93%. The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter last year, the firm posted $1.94 EPS. The firm’s revenue for the quarter was down 17.4% on a year-over-year basis. As a group, analysts forecast that NVIDIA Co. will post 4.07 EPS for the current year.

Several analysts have commented on the stock. Wedbush set a $184.00 price target on shares of NVIDIA and gave the company a “buy” rating in a research report on Friday, August 16th. Oppenheimer set a $190.00 price target on shares of NVIDIA and gave the company a “buy” rating in a research report on Friday, August 16th. Morgan Stanley reissued an “equal weight” rating and set a $180.00 price target (up from $170.00) on shares of NVIDIA in a research report on Friday, August 16th. Bank of America increased their price target on shares of NVIDIA from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Needham & Company LLC reissued a “sell” rating on shares of NVIDIA in a research report on Friday, August 16th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $189.15.

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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