Gerber Kawasaki Wealth & Investment Management Boosts Stake in Nvidia Corp. (NVDA)
Gerber Kawasaki Wealth & Investment Management raised its position in shares of Nvidia Corp. (NASDAQ:NVDA) by 182.2% during the second quarter, Holdings Channel reports. The fund owned 25,992 shares of the computer hardware maker’s stock after buying an additional 16,782 shares during the period. Nvidia Corp. accounts for 0.8% of Gerber Kawasaki Wealth & Investment Management’s portfolio, making the stock its 27th largest position. Gerber Kawasaki Wealth & Investment Management’s holdings in Nvidia Corp. were worth $1,221,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of NVDA. Aviance Capital Management LLC bought a new stake in Nvidia Corp. during the second quarter worth $200,000. Raymond James Trust N.A. acquired a new stake in shares of Nvidia Corp. during the second quarter worth approximately $224,000. Cim LLC acquired a new stake in shares of Nvidia Corp. during the second quarter worth approximately $232,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Nvidia Corp. by 920.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,100 shares of the computer hardware maker’s stock worth $240,000 after buying an additional 4,600 shares during the last quarter. Finally, Hollencrest Securities LLC acquired a new stake in shares of Nvidia Corp. during the second quarter worth approximately $245,000. Institutional investors and hedge funds own 86.29% of the company’s stock.
Nvidia Corp. (NASDAQ:NVDA) traded down 0.553% during trading on Monday, hitting $65.625. The stock had a trading volume of 4,141,404 shares. The company’s 50 day moving average is $64.34 and its 200-day moving average is $51.04. Nvidia Corp. has a 12 month low of $24.75 and a 12 month high of $69.70. The company has a market cap of $35.11 billion, a PE ratio of 43.118 and a beta of 1.25.
Nvidia Corp. (NASDAQ:NVDA) last posted its earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 EPS for the quarter, topping the consensus estimate of $0.37 by $0.16. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.35 billion. Nvidia Corp. had a return on equity of 20.86% and a net margin of 16.58%. Nvidia Corp.’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period last year, the company earned $0.34 earnings per share. On average, equities research analysts predict that Nvidia Corp. will post $1.85 earnings per share for the current year.
A number of brokerages recently commented on NVDA. Vetr lowered Nvidia Corp. from a “buy” rating to a “hold” rating and set a $65.46 price target for the company. in a research note on Monday. Bank of America Corp. reaffirmed a “buy” rating and issued a $80.00 price target on shares of Nvidia Corp. in a research note on Wednesday, October 12th. Wells Fargo & Co. reaffirmed an “underperform” rating on shares of Nvidia Corp. in a research note on Friday, September 30th. Susquehanna began coverage on Nvidia Corp. in a research note on Tuesday, September 20th. They issued a “neutral” rating and a $66.00 price target for the company. Finally, SunTrust Banks Inc. began coverage on Nvidia Corp. in a research note on Monday, September 19th. They issued a “neutral” rating and a $59.00 price target for the company. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and nineteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $58.45.
In other Nvidia Corp. news, Director Persis Drell sold 2,361 shares of the stock in a transaction that occurred on Wednesday, October 12th. The stock was sold at an average price of $66.58, for a total transaction of $157,195.38. Following the transaction, the director now owns 27,152 shares in the company, valued at $1,807,780.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jen Hsun Huang sold 40,000 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $58.66, for a total value of $2,346,400.00. Following the transaction, the insider now owns 1,817,279 shares in the company, valued at approximately $106,601,586.14. The disclosure for this sale can be found here. Company insiders own 5.82% of the company’s stock.
Nvidia Corp. Company Profile
NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters.
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