NVIDIA Corporation (NVDA) Stake Reduced by State of Alaska Department of Revenue
State of Alaska Department of Revenue decreased its stake in NVIDIA Corporation (NASDAQ:NVDA) by 34.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,104 shares of the computer hardware maker’s stock after selling 573 shares during the period. State of Alaska Department of Revenue’s holdings in NVIDIA Corporation were worth $159,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in NVDA. RB Capital Management LLC acquired a new position in NVIDIA Corporation during the second quarter valued at about $272,000. Greenwich Wealth Management LLC boosted its position in NVIDIA Corporation by 0.6% in the first quarter. Greenwich Wealth Management LLC now owns 55,437 shares of the computer hardware maker’s stock valued at $6,039,000 after buying an additional 357 shares during the last quarter. Columbus Circle Investors acquired a new position in NVIDIA Corporation during the first quarter valued at about $8,530,000. Ameriprise Financial Inc. boosted its position in NVIDIA Corporation by 46.6% in the first quarter. Ameriprise Financial Inc. now owns 5,257,325 shares of the computer hardware maker’s stock valued at $572,695,000 after buying an additional 1,672,231 shares during the last quarter. Finally, Menora Mivtachim Holdings LTD. acquired a new position in NVIDIA Corporation during the first quarter valued at about $17,244,000. Institutional investors own 68.91% of the company’s stock.
NVIDIA Corporation (NASDAQ:NVDA) traded up 0.26% on Wednesday, reaching $170.74. The company’s stock had a trading volume of 6,420,958 shares. The company has a market capitalization of $101.59 billion, a price-to-earnings ratio of 57.31 and a beta of 1.24. The stock has a 50 day moving average price of $158.02 and a 200-day moving average price of $125.12. NVIDIA Corporation has a 1-year low of $57.32 and a 1-year high of $171.05.
NVIDIA Corporation (NASDAQ:NVDA) last released its quarterly earnings data on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.16. NVIDIA Corporation had a net margin of 25.95% and a return on equity of 36.40%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the business earned $0.46 EPS. NVIDIA Corporation’s quarterly revenue was up 48.7% compared to the same quarter last year. Equities analysts predict that NVIDIA Corporation will post $3.10 earnings per share for the current fiscal year.
Several equities analysts have issued reports on NVDA shares. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $171.00 target price (up previously from $165.00) on shares of NVIDIA Corporation in a research report on Wednesday, June 14th. Zacks Investment Research cut NVIDIA Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, April 13th. CLSA reiterated an “underperform” rating and set a $115.00 target price on shares of NVIDIA Corporation in a research report on Wednesday, May 10th. Pacific Crest reiterated an “underweight” rating and set a $90.00 target price on shares of NVIDIA Corporation in a research report on Monday, May 8th. Finally, Vetr cut NVIDIA Corporation from a “strong-buy” rating to a “buy” rating and set a $174.02 target price on the stock. in a research report on Tuesday, July 11th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $136.24.
In related news, Director A Brooke Seawell sold 3,107 shares of NVIDIA Corporation stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $140.00, for a total value of $434,980.00. Following the completion of the sale, the director now owns 5,165 shares of the company’s stock, valued at approximately $723,100. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Harvey C. Jones sold 145,520 shares of NVIDIA Corporation stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $159.31, for a total transaction of $23,182,791.20. Following the completion of the sale, the director now directly owns 30,762 shares of the company’s stock, valued at approximately $4,900,694.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 622,282 shares of company stock valued at $93,304,082. 5.17% of the stock is owned by company insiders.
NVIDIA Corporation Company Profile
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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