Berkshire Bank Boosts Holdings in NVIDIA Co. (NASDAQ:NVDA)

Berkshire Bank increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 286.4% during the third quarter, Holdings Channel reports. The firm owned 24,492 shares of the computer hardware maker’s stock after acquiring an additional 18,154 shares during the quarter. NVIDIA makes up 1.2% of Berkshire Bank’s portfolio, making the stock its 19th biggest holding. Berkshire Bank’s holdings in NVIDIA were worth $5,074,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVDA. Regency Capital Management Inc. DE bought a new stake in NVIDIA in the 1st quarter worth approximately $43,000. Perkins Coie Trust Co increased its stake in NVIDIA by 790.0% in the 2nd quarter. Perkins Coie Trust Co now owns 89 shares of the computer hardware maker’s stock worth $71,000 after acquiring an additional 79 shares during the last quarter. Paragon Wealth Strategies LLC bought a new stake in NVIDIA in the 2nd quarter worth approximately $75,000. First PREMIER Bank bought a new stake in NVIDIA in the 2nd quarter worth approximately $80,000. Finally, Marquette Asset Management LLC increased its stake in NVIDIA by 300.0% in the 3rd quarter. Marquette Asset Management LLC now owns 120 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 90 shares during the last quarter. 19.24% of the stock is currently owned by institutional investors.

Shares of NVDA stock traded up $9.28 during mid-day trading on Thursday, hitting $326.74. The stock had a trading volume of 43,469,906 shares, compared to its average volume of 34,447,004. NVIDIA Co. has a 12-month low of $115.67 and a 12-month high of $346.47. The firm has a market capitalization of $814.24 billion, a P/E ratio of 116.48, a price-to-earnings-growth ratio of 4.45 and a beta of 1.46. The firm’s 50-day moving average is $248.30 and its two-hundred day moving average is $210.84. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.80 and a quick ratio of 5.33.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 17th. The computer hardware maker reported $1.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.06. NVIDIA had a return on equity of 40.88% and a net margin of 32.33%. During the same period in the previous year, the business posted $0.60 earnings per share. Analysts expect that NVIDIA Co. will post 3.49 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 23rd. Investors of record on Thursday, December 2nd will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.05%. The ex-dividend date is Wednesday, December 1st. NVIDIA’s dividend payout ratio (DPR) is currently 5.70%.

In other NVIDIA news, Director Mark A. Stevens sold 58,000 shares of the stock in a transaction dated Monday, November 22nd. The stock was sold at an average price of $342.58, for a total value of $19,869,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Persis Drell sold 10,000 shares of the stock in a transaction dated Friday, November 19th. The shares were sold at an average price of $326.65, for a total value of $3,266,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 78,000 shares of company stock valued at $25,222,940 over the last 90 days. 4.47% of the stock is currently owned by company insiders.

Several equities analysts have recently weighed in on NVDA shares. Credit Suisse Group boosted their target price on NVIDIA from $225.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, November 16th. Wedbush downgraded NVIDIA from an “outperform” rating to a “neutral” rating and boosted their target price for the company from $220.00 to $300.00 in a research report on Friday, November 12th. They noted that the move was a valuation call. BMO Capital Markets boosted their target price on NVIDIA from $250.00 to $375.00 in a research report on Monday. Susquehanna boosted their target price on NVIDIA from $250.00 to $360.00 and gave the company a “positive” rating in a research report on Thursday, November 11th. Finally, Robert W. Baird boosted their target price on NVIDIA from $240.00 to $360.00 and gave the company an “outperform” rating in a research report on Monday, November 15th. Three equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $326.78.

About NVIDIA

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. 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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