NVIDIA Sees Increased Interest From Hedge Funds Amid Rising Revenue
NVIDIA Corporation (NASDAQ:NVDA) has seen significant changes in its shareholder base over the past few quarters. Bay Colony Advisory Group Inc d b a Bay Colony Advisors, a financial firm, has increased its stake in NVIDIA by 3.1% during the second quarter. The company now owns 111,821 shares of NVIDIA's stock after purchasing an additional 3,404 shares.
This move is part of a larger trend, as several hedge funds have also modified their holdings in NVIDIA. Norges Bank purchased a new position in shares of NVIDIA during the fourth quarter valued at $62,244,133,000. J. Stern & Co. LLP lifted its stake in NVIDIA by 13,709.1% in the 4th quarter.
Capital Research Global Investors boosted its position in NVIDIA by 16.1% during the 3rd quarter. Laurel Wealth Advisors LLC grew its stake in NVIDIA by 15,496.1% during the 2nd quarter. The company's market capitalization is $5.25 trillion, with a price-to-earnings ratio of 33.21 and a PEG ratio of 0.43.
The computer hardware maker reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.11. NVIDIA had a net margin of 62.97% and a return on equity of 96.94%. The company's quarterly revenue was up 85.2% on a year-over-year basis.