Ballentine Partners LLC lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 28.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,608 shares of the computer hardware maker’s stock after purchasing an additional 792 shares during the period. Ballentine Partners LLC’s holdings in NVIDIA were worth $593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in NVDA. Thor Advisors LLC purchased a new position in NVIDIA during the first quarter valued at $29,000. Harvest Group Wealth Management LLC purchased a new position in NVIDIA during the first quarter valued at $30,000. Truvestments Capital LLC purchased a new position in NVIDIA during the first quarter valued at $33,000. Field & Main Bank purchased a new position in NVIDIA during the second quarter valued at $33,000. Finally, Sound Income Strategies LLC lifted its position in NVIDIA by 96.2% during the second quarter. Sound Income Strategies LLC now owns 204 shares of the computer hardware maker’s stock valued at $34,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 67.47% of the company’s stock.
In other news, CFO Colette Kress sold 2,236 shares of NVIDIA stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $164.01, for a total value of $366,726.36. Following the sale, the chief financial officer now directly owns 239,710 shares of the company’s stock, valued at $39,314,837.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harvey C. Jones sold 100,000 shares of NVIDIA stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $145.10, for a total value of $14,510,000.00. Following the completion of the sale, the director now directly owns 32,983 shares in the company, valued at $4,785,833.30. The disclosure for this sale can be found here. Insiders sold 104,736 shares of company stock worth $15,293,726 over the last ninety days. Insiders own 4.64% of the company’s stock.
Shares of NVDA stock opened at $152.35 on Wednesday. NVIDIA Co. has a 12-month low of $124.46 and a 12-month high of $292.76. The company has a quick ratio of 7.78, a current ratio of 8.98 and a debt-to-equity ratio of 0.25. The stock has a 50-day moving average price of $163.78. The company has a market capitalization of $92.78 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 4.13 and a beta of 2.07.
NVIDIA (NASDAQ:NVDA) last issued its earnings results on Thursday, May 16th. The computer hardware maker reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.07. NVIDIA had a return on equity of 31.27% and a net margin of 30.68%. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the previous year, the firm posted $2.05 earnings per share. The business’s revenue was down 30.8% compared to the same quarter last year. As a group, research analysts forecast that NVIDIA Co. will post 4.16 EPS for the current fiscal year.
Several equities analysts recently weighed in on the company. Barclays lowered their target price on NVIDIA from $220.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, June 6th. Royal Bank of Canada lifted their target price on NVIDIA to $200.00 and gave the company an “outperform” rating in a research report on Monday, May 13th. Summit Redstone downgraded NVIDIA to a “hold” rating in a research report on Friday, May 17th. Cascend Securities upgraded NVIDIA from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research report on Thursday, July 11th. Finally, Summit Insights downgraded NVIDIA from a “buy” rating to a “hold” rating and set a $158.57 target price on the stock. in a research report on Friday, May 17th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-six have issued a buy rating to the company. NVIDIA presently has a consensus rating of “Buy” and an average price target of $194.34.
NVIDIA Company Profile
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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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