NVIDIA Co. (NVDA) Stake Increased by Portland Global Advisors LLC
Portland Global Advisors LLC increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 12.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,650 shares of the computer hardware maker’s stock after buying an additional 300 shares during the period. Portland Global Advisors LLC’s holdings in NVIDIA were worth $289,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in NVDA. Emerald Advisers Inc. PA increased its position in shares of NVIDIA by 183.1% in the third quarter. Emerald Advisers Inc. PA now owns 24,066 shares of the computer hardware maker’s stock valued at $1,649,000 after buying an additional 15,564 shares during the period. Regal Investment Advisors LLC bought a new position in shares of NVIDIA during the third quarter valued at about $277,000. Great West Life Assurance Co. Can increased its position in shares of NVIDIA by 4.9% in the third quarter. Great West Life Assurance Co. Can now owns 447,416 shares of the computer hardware maker’s stock valued at $30,620,000 after buying an additional 20,719 shares during the period. Brick & Kyle Associates increased its position in shares of NVIDIA by 10.0% in the third quarter. Brick & Kyle Associates now owns 2,753 shares of the computer hardware maker’s stock valued at $189,000 after buying an additional 251 shares during the period. Finally, KEYWISE CAPITAL MANAGEMENT Ltd increased its position in shares of NVIDIA by 2.6% in the third quarter. KEYWISE CAPITAL MANAGEMENT Ltd now owns 1,175,020 shares of the computer hardware maker’s stock valued at $80,512,000 after buying an additional 30,020 shares during the period. Institutional investors own 85.00% of the company’s stock.
Shares of NVIDIA Co. (NASDAQ:NVDA) traded down 0.4879% during midday trading on Tuesday, hitting $98.7459. 6,869,933 shares of the stock traded hands. NVIDIA Co. has a 52 week low of $34.40 and a 52 week high of $120.92. The company’s 50-day moving average is $102.65 and its 200 day moving average is $95.09. The firm has a market capitalization of $58.16 billion, a PE ratio of 38.4225 and a beta of 1.31.
NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, February 9th. The computer hardware maker reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.16. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.10 billion. NVIDIA had a net margin of 23.82% and a return on equity of 34.13%. The company’s revenue for the quarter was up 54.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 EPS. Analysts anticipate that NVIDIA Co. will post $2.88 earnings per share for the current year.
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A number of analysts recently weighed in on NVDA shares. Barclays PLC restated a “hold” rating and issued a $90.00 price objective on shares of NVIDIA in a report on Tuesday, February 7th. Deutsche Bank AG restated a “hold” rating and issued a $75.00 price objective on shares of NVIDIA in a report on Wednesday, February 8th. Needham & Company LLC restated a “buy” rating and issued a $120.00 price objective on shares of NVIDIA in a report on Thursday, February 9th. Argus increased their price objective on NVIDIA from $95.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, December 28th. Finally, Susquehanna Bancshares Inc restated a “neutral” rating on shares of NVIDIA in a report on Tuesday, February 7th. Seven investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $99.43.
In other news, insider Jen Hsun Huang sold 41,666 shares of NVIDIA stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $114.53, for a total transaction of $4,772,006.98. Following the sale, the insider now owns 1,751,872 shares of the company’s stock, valued at approximately $200,641,900.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ajay K. Puri sold 133,542 shares of NVIDIA stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $108.53, for a total transaction of $14,493,313.26. Following the sale, the executive vice president now directly owns 601,367 shares in the company, valued at approximately $65,266,360.51. The disclosure for this sale can be found here. Insiders have sold a total of 303,906 shares of company stock worth $32,645,625 in the last ninety days. Insiders own 5.82% of the company’s stock.
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at 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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