Wealth Enhancement Advisory Services LLC acquired a new position in shares of Nvidia Corp. (NASDAQ:NVDA) during the second quarter, Holdings Channel reports. The institutional investor acquired 30,355 shares of the computer hardware maker’s stock, valued at approximately $1,427,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Trinity Street Asset Management LLP increased its position in Nvidia Corp. by 154.6% in the second quarter. Trinity Street Asset Management LLP now owns 563,363 shares of the computer hardware maker’s stock worth $26,483,000 after buying an additional 342,092 shares in the last quarter. Natixis increased its position in Nvidia Corp. by 91.1% in the first quarter. Natixis now owns 1,754,727 shares of the computer hardware maker’s stock worth $62,521,000 after buying an additional 836,276 shares in the last quarter. Legal & General Group Plc increased its position in Nvidia Corp. by 5.1% in the first quarter. Legal & General Group Plc now owns 2,243,547 shares of the computer hardware maker’s stock worth $79,938,000 after buying an additional 107,884 shares in the last quarter. Clark Capital Management Group Inc. bought a new position in Nvidia Corp. during the first quarter worth approximately $7,723,000. Finally, Nordea Investment Management AB increased its position in Nvidia Corp. by 114.1% in the second quarter. Nordea Investment Management AB now owns 33,823 shares of the computer hardware maker’s stock worth $1,590,000 after buying an additional 18,023 shares in the last quarter. 86.29% of the stock is owned by institutional investors.
Nvidia Corp. (NASDAQ:NVDA) traded down 0.02% during mid-day trading on Monday, hitting $65.98. The stock had a trading volume of 2,557,890 shares. The stock’s 50 day moving average price is $64.34 and its 200 day moving average price is $51.04. The firm has a market capitalization of $35.30 billion, a price-to-earnings ratio of 43.35 and a beta of 1.25. Nvidia Corp. has a one year low of $24.75 and a one year high of $69.70.
Nvidia Corp. (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. Nvidia Corp. had a return on equity of 20.86% and a net margin of 16.58%. The firm earned $1.43 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the firm posted $0.34 earnings per share. The business’s quarterly revenue was up 23.9% compared to the same quarter last year. Analysts forecast that Nvidia Corp. will post $1.85 EPS for the current year.
NVDA has been the subject of a number of research analyst reports. Bank of America Corp. reaffirmed a “buy” rating and set a $80.00 price objective on shares of Nvidia Corp. in a research note on Monday, October 3rd. Nomura reissued a “buy” rating and set a $62.50 target price on shares of Nvidia Corp. in a research report on Monday, September 12th. RBC Capital Markets reissued an “outperform” rating and set a $72.00 target price on shares of Nvidia Corp. in a research report on Wednesday, August 31st. Vetr raised shares of Nvidia Corp. from a “hold” rating to a “buy” rating and set a $67.35 target price for the company in a research report on Monday, September 5th. Finally, Wells Fargo & Co. reissued an “underperform” rating on shares of Nvidia Corp. in a research report on Friday, September 30th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nineteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $58.45.
In related news, 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 transaction of $2,346,400.00. Following the completion of the transaction, the insider now directly owns 1,817,279 shares of the company’s stock, valued at $106,601,586.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 38,039 shares of the stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $62.18, for a total value of $2,365,265.02. Following the transaction, the chief financial officer now directly owns 512,374 shares of the company’s stock, valued at $31,859,415.32. The disclosure for this sale can be found here. Corporate insiders own 5.82% of the company’s stock.
About Nvidia Corp.
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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