NVIDIA Gets a Boost: Redburn Atlantic Gives Buy Recommendation
On November 12, 2024, Fintel reported that Redburn Atlantic has started covering NVIDIA (BIT:1NVDA) with a strong Buy recommendation.
Analyst Price Forecast Indicates Potential Gains
As of October 22, 2024, NVIDIA’s average one-year price target is set at €139.87 per share. This figure represents a potential increase of 2.37% from its most recent closing price of €136.64. The predictions range widely, from a low of €70.07 to a high of €195.93.
Check out our leaderboard showing companies with the largest price target upside.
Revenue and Earnings Projections Highlight Company Trends
NVIDIA’s projected annual revenue stands at €94,037 million, reflecting a slight decrease of 2.36%. The expected non-GAAP earnings per share is €20.91.
Institutional Investment Trends in NVIDIA
There are currently 6,549 funds or institutions holding positions in NVIDIA, marking an increase of 164, or 2.57%, compared to the previous quarter. The average weight of NVIDIA in these portfolios is 3.24%, which is a rise of 4.32%. Over the last three months, institutional shares owned have surged by 282.80%, reaching 17,583,505K shares.
Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) has increased its holdings to 738,297K shares, accounting for 3.01% of NVIDIA. This is a significant jump from the previous 74,656K shares, an increase of 89.89%. The firm has raised its portfolio allocation in NVIDIA by 31.49% in the last quarter.
Vanguard 500 Index Fund Investor Shares (VFINX) now holds 631,333K shares, representing 2.57% ownership. Previously, it owned 62,245K shares, marking an increase of 90.14%. Its allocation to NVIDIA has also risen by 31.27% over the same period.
Geode Capital Management currently owns 546,079K shares, or 2.23% of the company. This reflects a modest increase of 2.11% from 534,554K shares previously held, though the firm cut its overall allocation in NVIDIA by 51.50% last quarter.
Price T Rowe Associates has boosted its stake in NVIDIA to 444,582K shares, representing 1.81% ownership. This is up from 46,150K shares, an increase of 89.62%. The firm’s portfolio allocation rose by 28.59% in the last quarter.
JPMorgan Chase holds 406,709K shares, making up 1.66% of the company. Previously, it had 390,779K shares, which reflects a 3.92% increase. However, the firm reduced its allocation in NVIDIA by 5.07% last quarter.
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This story originally appeared on Fintel.
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