Stonebridge Capital Management Inc. Grows Stake in NVIDIA Co. (NVDA)

Stonebridge Capital Management Inc. lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 109.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,875 shares of the computer hardware maker’s stock after purchasing an additional 2,025 shares during the period. Stonebridge Capital Management Inc.’s holdings in NVIDIA were worth $696,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Executive Wealth Management LLC grew its stake in NVIDIA by 47.1% during the 1st quarter. Executive Wealth Management LLC now owns 9,168 shares of the computer hardware maker’s stock valued at $1,646,000 after acquiring an additional 2,934 shares in the last quarter. First Interstate Bank grew its stake in NVIDIA by 3,043.6% during the 1st quarter. First Interstate Bank now owns 3,678 shares of the computer hardware maker’s stock valued at $660,000 after acquiring an additional 3,561 shares in the last quarter. Pinnacle Financial Partners Inc. purchased a new stake in NVIDIA during the 1st quarter valued at about $49,000. Joseph P. Lucia & Associates LLC purchased a new stake in NVIDIA during the 1st quarter valued at about $58,000. Finally, Savant Capital LLC purchased a new stake in NVIDIA during the 1st quarter valued at about $279,000. 70.17% of the stock is owned by institutional investors and hedge funds.

NVDA has been the subject of several research reports. Zacks Investment Research raised shares of NVIDIA from a “strong sell” rating to a “hold” rating in a research note on Monday, April 1st. TheStreet raised shares of NVIDIA from a “c+” rating to a “b-” rating in a research note on Thursday, April 4th. BidaskClub raised shares of NVIDIA from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Cowen reaffirmed an “outperform” rating and set a $195.00 price objective (down previously from $215.00) on shares of NVIDIA in a research note on Friday, February 15th. Finally, Mizuho reaffirmed a “buy” rating and set a $195.00 price objective on shares of NVIDIA in a research note on Wednesday, March 13th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $203.51.

In other NVIDIA news, EVP Debora Shoquist sold 5,823 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $185.00, for a total transaction of $1,077,255.00. Following the sale, the executive vice president now directly owns 171,783 shares in the company, valued at approximately $31,779,855. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Colette Kress sold 14,092 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $183.33, for a total transaction of $2,583,486.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,029 shares of company stock worth $3,678,385. Company insiders own 4.64% of the company’s stock.

Shares of NVDA stock traded up $2.47 during trading hours on Tuesday, hitting $160.92. The company had a trading volume of 4,843,871 shares, compared to its average volume of 14,890,329. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.76 and a current ratio of 7.94. NVIDIA Co. has a fifty-two week low of $124.46 and a fifty-two week high of $292.76. The firm has a market cap of $103.56 billion, a P/E ratio of 26.51, a P/E/G ratio of 4.11 and a beta of 1.85.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Thursday, February 14th. The computer hardware maker reported $0.80 EPS for the quarter, topping the consensus estimate of $0.53 by $0.27. NVIDIA had a net margin of 35.35% and a return on equity of 41.78%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the business posted $1.72 EPS. The business’s revenue for the quarter was down 24.3% compared to the same quarter last year. As a group, research analysts predict that NVIDIA Co. will post 4.46 EPS for the current fiscal year.

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About NVIDIA

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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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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