AHL Partners LLP purchased a new position in shares of NVIDIA Corporation (NASDAQ:NVDA) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 5,868 shares of the computer hardware maker’s stock, valued at approximately $848,000.
Several other hedge funds have also bought and sold shares of NVDA. Vanguard Group Inc. boosted its stake in NVIDIA Corporation by 7.1% in the 2nd quarter. Vanguard Group Inc. now owns 40,257,187 shares of the computer hardware maker’s stock valued at $5,819,579,000 after purchasing an additional 2,676,976 shares during the period. Edgewood Management LLC boosted its stake in NVIDIA Corporation by 21.9% in the 1st quarter. Edgewood Management LLC now owns 5,987,970 shares of the computer hardware maker’s stock valued at $652,270,000 after purchasing an additional 1,074,303 shares during the period. Ameriprise Financial Inc. lifted its position in shares of NVIDIA Corporation by 8.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,720,631 shares of the computer hardware maker’s stock valued at $827,110,000 after acquiring an additional 463,306 shares during the period. Janus Capital Management LLC lifted its position in shares of NVIDIA Corporation by 20.0% during the 1st quarter. Janus Capital Management LLC now owns 5,368,881 shares of the computer hardware maker’s stock valued at $584,832,000 after acquiring an additional 895,591 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of NVIDIA Corporation by 19.3% during the 2nd quarter. Renaissance Technologies LLC now owns 4,758,793 shares of the computer hardware maker’s stock valued at $687,931,000 after acquiring an additional 768,200 shares during the period. 65.77% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on NVDA. Vetr upgraded NVIDIA Corporation from a “hold” rating to a “buy” rating and set a $176.95 target price for the company in a research report on Wednesday, September 6th. Royal Bank Of Canada reissued an “outperform” rating and set a $175.00 price target on shares of NVIDIA Corporation in a report on Thursday, July 13th. Needham & Company LLC reissued a “buy” rating on shares of NVIDIA Corporation in a report on Friday, August 11th. Citigroup Inc. reaffirmed a “buy” rating and issued a $210.00 target price (up previously from $185.00) on shares of NVIDIA Corporation in a report on Friday, September 29th. Finally, Susquehanna Bancshares Inc reaffirmed a “neutral” rating on shares of NVIDIA Corporation in a report on Monday, July 3rd. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $161.85.
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In other news, insider Jen Hsun Huang sold 110,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $166.08, for a total transaction of $18,268,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Byron sold 409 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $171.01, for a total transaction of $69,943.09. Following the sale, the insider now directly owns 136,199 shares of the company’s stock, valued at approximately $23,291,390.99. The disclosure for this sale can be found here. Insiders sold 452,784 shares of company stock valued at $81,437,724 in the last ninety days. 5.82% of the stock is owned by corporate insiders.
Shares of NVIDIA Corporation (NVDA) opened at 197.8316 on Friday. NVIDIA Corporation has a 1-year low of $66.58 and a 1-year high of $199.59. The company’s 50-day moving average price is $182.70 and its 200 day moving average price is $153.95. The company has a market cap of $118.70 billion, a price-to-earnings ratio of 56.8972 and a beta of 1.28.
NVIDIA Corporation (NASDAQ:NVDA) last posted its earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.32. The company 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 27.41% and a return on equity of 39.59%. The firm’s quarterly revenue was up 56.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 earnings per share. On average, analysts predict that NVIDIA Corporation will post $3.63 earnings per share for the current fiscal year.
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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