Centre Asset Management LLC cut its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 1.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,010 shares of the computer hardware maker’s stock after selling 1,450 shares during the quarter. NVIDIA Corporation comprises 4.1% of Centre Asset Management LLC’s investment portfolio, making the stock its 4th biggest position. Centre Asset Management LLC’s holdings in NVIDIA Corporation were worth $15,734,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Evercore Wealth Management LLC boosted its position in NVIDIA Corporation by 36.9% during the second quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock worth $110,000 after acquiring an additional 206 shares during the last quarter. TB Alternative Assets Ltd. acquired a new position in NVIDIA Corporation during the second quarter worth about $116,000. Proficio Capital Partners LLC boosted its position in NVIDIA Corporation by 186.1% during the first quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock worth $117,000 after acquiring an additional 547 shares during the last quarter. Thompson Davis & CO. Inc. boosted its position in NVIDIA Corporation by 0.7% during the second quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock worth $119,000 after acquiring an additional 6 shares during the last quarter. Finally, Hanson McClain Inc. boosted its position in NVIDIA Corporation by 12.7% during the second quarter. Hanson McClain Inc. now owns 881 shares of the computer hardware maker’s stock worth $127,000 after acquiring an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.
In related news, Director Mark L. Perry sold 16,281 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $162.24, for a total value of $2,641,429.44. Following the completion of the transaction, the director now directly owns 48,069 shares in the company, valued at $7,798,714.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 22,808 shares of the company’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $185.31, for a total value of $4,226,550.48. The disclosure for this sale can be found here. Insiders sold 452,784 shares of company stock valued at $81,437,724 over the last 90 days. 5.82% of the stock is currently owned by corporate insiders.
NVIDIA Corporation (NASDAQ NVDA) traded up 1.8571% during mid-day trading on Friday, hitting $199.3242. 6,103,306 shares of the stock traded hands. The stock has a 50-day moving average of $182.70 and a 200 day moving average of $153.95. The firm has a market cap of $119.59 billion, a price-to-earnings ratio of 57.3265 and a beta of 1.28. NVIDIA Corporation has a 1-year low of $66.58 and a 1-year high of $199.60.
NVIDIA Corporation (NASDAQ:NVDA) last issued its earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.32. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $1.96 billion. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. NVIDIA Corporation’s revenue was up 56.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. On average, equities analysts expect that NVIDIA Corporation will post $3.63 EPS for the current year.
A number of equities analysts recently weighed in on the stock. Jefferies Group LLC boosted their price target on shares of NVIDIA Corporation from $180.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday. Mizuho restated a “positive” rating and set a $220.00 price target (up from $180.00) on shares of NVIDIA Corporation in a research report on Monday, October 16th. Vetr upgraded shares of NVIDIA Corporation from a “hold” rating to a “buy” rating and set a $203.56 target price on the stock in a report on Wednesday. Needham & Company LLC boosted their target price on shares of NVIDIA Corporation from $200.00 to $250.00 and gave the company a “buy” rating in a report on Friday, October 13th. Finally, Royal Bank Of Canada boosted their target price on shares of NVIDIA Corporation from $205.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 12th. Six research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. NVIDIA Corporation has an average rating of “Hold” and an average price target of $161.85.
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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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