Gabelli Funds LLC Has $18.19 Million Stake in NVIDIA Co. (NVDA)
Gabelli Funds LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 87.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 101,300 shares of the computer hardware maker’s stock after purchasing an additional 47,400 shares during the quarter. Gabelli Funds LLC’s holdings in NVIDIA were worth $18,189,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc raised its position in NVIDIA by 4.0% in the third quarter. Vanguard Group Inc now owns 44,464,641 shares of the computer hardware maker’s stock valued at $12,495,455,000 after purchasing an additional 1,693,736 shares during the period. BlackRock Inc. increased its position in shares of NVIDIA by 1.0% during the fourth quarter. BlackRock Inc. now owns 39,307,194 shares of the computer hardware maker’s stock worth $5,247,509,000 after acquiring an additional 378,149 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of NVIDIA by 8,687.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,509,787 shares of the computer hardware maker’s stock worth $161,000 after acquiring an additional 21,265,009 shares during the period. Geode Capital Management LLC increased its position in shares of NVIDIA by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 8,129,007 shares of the computer hardware maker’s stock worth $1,083,400,000 after acquiring an additional 266,779 shares during the period. Finally, Baillie Gifford & Co. increased its position in shares of NVIDIA by 16.0% during the first quarter. Baillie Gifford & Co. now owns 7,647,342 shares of the computer hardware maker’s stock worth $1,373,156,000 after acquiring an additional 1,052,689 shares during the period. 70.03% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on the company. BidaskClub raised NVIDIA from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd. Nomura assumed coverage on NVIDIA in a research report on Tuesday, April 2nd. They set a “neutral” rating and a $147.00 price objective on the stock. Stifel Nicolaus cut their price objective on NVIDIA from $150.00 to $145.00 and set a “hold” rating on the stock in a research report on Tuesday. Wells Fargo & Co upped their price objective on NVIDIA from $170.00 to $190.00 and gave the stock a “positive” rating in a research report on Tuesday, March 19th. Finally, Royal Bank of Canada boosted their target price on shares of NVIDIA to $200.00 and gave the stock an “outperform” rating in a research note on Monday. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-five have given a buy rating to the company. NVIDIA has an average rating of “Buy” and an average price target of $203.51.
Shares of NASDAQ:NVDA opened at $162.04 on Wednesday. NVIDIA Co. has a one year low of $124.46 and a one year high of $292.76. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.94 and a quick ratio of 6.76. The stock has a market capitalization of $96.42 billion, a PE ratio of 26.70, a price-to-earnings-growth ratio of 3.82 and a beta of 1.85.
NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, February 14th. The computer hardware maker reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.27. NVIDIA had a net margin of 35.35% and a return on equity of 41.78%. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the prior year, the company earned $1.72 earnings per share. The business’s revenue was down 24.3% compared to the same quarter last year. As a group, sell-side analysts predict that NVIDIA Co. will post 4.46 EPS for the current year.
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NVIDIA Company Profile
NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for artificial intelligence (AI) utilizing deep learning, accelerated computing, and general purpose computing; GRID, which provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.
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