First Trust Advisors LP Decreases Position in NVIDIA Corporation (NASDAQ:NVDA)
First Trust Advisors LP reduced its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 18.5% during the second quarter, Holdings Channel reports. The firm owned 665,817 shares of the computer hardware maker’s stock after selling 150,833 shares during the period. First Trust Advisors LP’s holdings in NVIDIA Corporation were worth $96,251,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Quadrant Capital Group LLC raised its stake in NVIDIA Corporation by 17.5% in the first quarter. Quadrant Capital Group LLC now owns 1,055 shares of the computer hardware maker’s stock valued at $105,000 after buying an additional 157 shares during the period. TB Alternative Assets Ltd. acquired a new stake in NVIDIA Corporation during the second quarter valued at about $116,000. Proficio Capital Partners LLC raised its stake in NVIDIA Corporation by 186.1% in the first quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock valued at $117,000 after buying an additional 547 shares during the period. Coconut Grove Bank raised its stake in NVIDIA Corporation by 683.9% in the first quarter. Coconut Grove Bank now owns 1,215 shares of the computer hardware maker’s stock valued at $132,000 after buying an additional 1,060 shares during the period. Finally, Founders Capital Management raised its stake in NVIDIA Corporation by 25.0% in the second quarter. Founders Capital Management now owns 1,000 shares of the computer hardware maker’s stock valued at $145,000 after buying an additional 200 shares during the period. 68.91% of the stock is currently owned by institutional investors.
NVIDIA Corporation (NASDAQ NVDA) opened at 164.74 on Friday. The company has a market capitalization of $98.02 billion, a price-to-earnings ratio of 55.30 and a beta of 1.24. The company has a 50 day moving average of $159.56 and a 200 day moving average of $127.02. NVIDIA Corporation has a 52 week low of $57.32 and a 52 week high of $174.56.
NVIDIA Corporation (NASDAQ:NVDA) last announced its earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.32. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $1.96 billion. NVIDIA Corporation had a net margin of 25.95% and a return on equity of 36.40%. The firm’s revenue was up 56.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. On average, equities analysts forecast that NVIDIA Corporation will post $3.10 EPS for the current fiscal year.
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Several analysts have recently issued reports on NVDA shares. Vetr lowered shares of NVIDIA Corporation from a “strong-buy” rating to a “buy” rating and set a $111.03 price target on the stock. in a research report on Tuesday, April 18th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $130.00 price target on shares of NVIDIA Corporation in a research report on Friday, April 14th. Royal Bank Of Canada reissued a “buy” rating and issued a $130.00 price target on shares of NVIDIA Corporation in a research report on Tuesday, May 2nd. B. Riley reissued a “buy” rating and issued a $135.00 price target on shares of NVIDIA Corporation in a research report on Monday, May 8th. Finally, UBS AG reissued a “buy” rating and issued a $132.00 price target on shares of NVIDIA Corporation in a research report on Wednesday, May 10th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $140.98.
In other NVIDIA Corporation news, Director Tench Coxe sold 50,000 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $164.53, for a total value of $8,226,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Persis Drell sold 2,500 shares of the business’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $130.02, for a total transaction of $325,050.00. Following the completion of the transaction, the director now owns 24,652 shares of the company’s stock, valued at $3,205,253.04. The disclosure for this sale can be found here. Insiders sold 572,282 shares of company stock valued at $86,830,082 over the last quarter. 5.82% of the stock is currently owned by corporate insiders.
About NVIDIA Corporation
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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