Wetherby Asset Management Inc. Boosts Position in NVIDIA Corporation (NVDA)
Wetherby Asset Management Inc. increased its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 19.9% during the second quarter, Holdings Channel reports. The firm owned 8,978 shares of the computer hardware maker’s stock after buying an additional 1,487 shares during the period. Wetherby Asset Management Inc.’s holdings in NVIDIA Corporation were worth $1,298,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of NVDA. Canada Pension Plan Investment Board boosted its stake in NVIDIA Corporation by 160.6% in the second quarter. Canada Pension Plan Investment Board now owns 502,470 shares of the computer hardware maker’s stock valued at $72,637,000 after buying an additional 309,634 shares during the period. Trexquant Investment LP bought a new stake in NVIDIA Corporation during the second quarter valued at $492,000. Global X Management Co. LLC boosted its stake in NVIDIA Corporation by 20.6% in the second quarter. Global X Management Co. LLC now owns 7,740 shares of the computer hardware maker’s stock valued at $1,119,000 after buying an additional 1,320 shares during the period. BP PLC boosted its stake in NVIDIA Corporation by 177.1% in the second quarter. BP PLC now owns 66,500 shares of the computer hardware maker’s stock valued at $9,609,000 after buying an additional 42,500 shares during the period. Finally, New England Investment & Retirement Group Inc. bought a new stake in NVIDIA Corporation during the second quarter valued at $236,000. Hedge funds and other institutional investors own 68.91% of the company’s stock.
NVIDIA Corporation (NVDA) opened at 172.11 on Thursday. NVIDIA Corporation has a one year low of $57.32 and a one year high of $174.56. The stock has a market capitalization of $102.41 billion, a PE ratio of 57.77 and a beta of 1.24. The firm has a 50-day moving average of $159.41 and a 200 day moving average of $126.75.
NVIDIA Corporation (NASDAQ:NVDA) last released its quarterly earnings results on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the business earned $0.46 EPS. The company’s revenue was up 48.7% compared to the same quarter last year. On average, equities research analysts anticipate that NVIDIA Corporation will post $3.10 earnings per share for the current fiscal year.
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Several research firms have recently weighed in on NVDA. Jefferies Group LLC restated a “buy” rating and set a $180.00 price objective on shares of NVIDIA Corporation in a research report on Thursday. Citigroup Inc. restated a “buy” rating and set a $180.00 price objective on shares of NVIDIA Corporation in a research report on Thursday. BMO Capital Markets restated an “underperform” rating and set a $85.00 price objective on shares of NVIDIA Corporation in a research report on Thursday. Rosenblatt Securities restated a “buy” rating and set a $152.00 price objective on shares of NVIDIA Corporation in a research report on Thursday. Finally, Vetr cut shares of NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $177.02 price objective on the stock. in a research report on Wednesday. Six research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $136.64.
In related news, Director Harvey C. Jones sold 145,520 shares of NVIDIA Corporation stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $159.31, for a total value of $23,182,791.20. Following the completion of the sale, the director now directly owns 30,762 shares in the company, valued at approximately $4,900,694.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 50,000 shares of NVIDIA Corporation stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $164.53, for a total transaction of $8,226,500.00. The disclosure for this sale can be found here. Insiders sold a total of 572,282 shares of company stock worth $86,830,082 over the last 90 days. Company insiders own 5.82% of the company’s stock.
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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