Perennial Investment Advisors LLC Buys New Position in NVIDIA Co. (NASDAQ:NVDA)

Perennial Investment Advisors LLC bought a new stake in NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 4,326 shares of the computer hardware maker’s stock, valued at approximately $1,021,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Marquette Asset Management LLC grew its stake in NVIDIA by 416.7% in the 3rd quarter. Marquette Asset Management LLC now owns 155 shares of the computer hardware maker’s stock worth $27,000 after acquiring an additional 125 shares during the period. Howard Wealth Management LLC acquired a new stake in shares of NVIDIA during the fourth quarter worth $28,000. Stonebridge Financial Planning Group LLC purchased a new stake in shares of NVIDIA in the fourth quarter valued at $28,000. Braun Bostich & Associates Inc. purchased a new stake in shares of NVIDIA in the fourth quarter valued at $30,000. Finally, Wealthcare Capital Management LLC grew its position in shares of NVIDIA by 44.2% in the fourth quarter. Wealthcare Capital Management LLC now owns 137 shares of the computer hardware maker’s stock valued at $32,000 after purchasing an additional 42 shares during the period. 65.23% of the stock is currently owned by institutional investors.

Several equities analysts recently weighed in on the company. Zacks Investment Research upgraded NVIDIA from a “hold” rating to a “buy” rating and set a $218.00 target price on the stock in a research report on Wednesday, November 20th. JPMorgan Chase & Co. lifted their price target on NVIDIA from $200.00 to $237.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Susquehanna Bancshares upped their price objective on shares of NVIDIA from $285.00 to $310.00 and gave the company a “positive” rating in a research note on Wednesday. Cascend Securities increased their price objective on shares of NVIDIA from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Raymond James raised their target price on shares of NVIDIA from $240.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. NVIDIA presently has an average rating of “Buy” and a consensus price target of $262.18.

In other news, CFO Colette Kress sold 2,000 shares of NVIDIA stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.43, for a total transaction of $470,860.00. Following the sale, the chief financial officer now owns 169,989 shares in the company, valued at $40,020,510.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert K. Burgess sold 8,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $230.71, for a total transaction of $1,845,680.00. Following the sale, the director now owns 13,894 shares in the company, valued at approximately $3,205,484.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,785 shares of company stock worth $11,454,424. 4.64% of the stock is currently owned by insiders.

Shares of NVDA stock traded up $19.01 during mid-day trading on Friday, reaching $289.79. The company’s stock had a trading volume of 26,048,093 shares. The company’s 50 day simple moving average is $245.95 and its 200-day simple moving average is $204.14. NVIDIA Co. has a 12-month low of $132.60 and a 12-month high of $294.97.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, February 13th. The computer hardware maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.22. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same period last year, the company posted $0.80 earnings per share. Equities research analysts expect that NVIDIA Co. will post 5.97 EPS for the current fiscal year.

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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