Twin Capital Management Inc. trimmed its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 31.5% during the second quarter, Holdings Channel reports. The firm owned 35,370 shares of the computer hardware maker’s stock after selling 16,232 shares during the period. Twin Capital Management Inc.’s holdings in NVIDIA were worth $5,809,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the company. Bay Harbor Wealth Management LLC boosted its stake in NVIDIA by 41.4% during the 1st quarter. Bay Harbor Wealth Management LLC now owns 205 shares of the computer hardware maker’s stock valued at $37,000 after purchasing an additional 60 shares in the last quarter. LS Investment Advisors LLC boosted its stake in NVIDIA by 0.5% during the 1st quarter. LS Investment Advisors LLC now owns 11,952 shares of the computer hardware maker’s stock valued at $2,146,000 after purchasing an additional 62 shares in the last quarter. McIlrath & Eck LLC boosted its stake in NVIDIA by 14.5% during the 1st quarter. McIlrath & Eck LLC now owns 496 shares of the computer hardware maker’s stock valued at $89,000 after purchasing an additional 63 shares in the last quarter. Tradewinds Capital Management LLC boosted its stake in NVIDIA by 19.8% during the 1st quarter. Tradewinds Capital Management LLC now owns 393 shares of the computer hardware maker’s stock valued at $71,000 after purchasing an additional 65 shares in the last quarter. Finally, Sky Investment Group LLC boosted its stake in NVIDIA by 0.9% during the 1st quarter. Sky Investment Group LLC now owns 7,160 shares of the computer hardware maker’s stock valued at $1,286,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds own 67.54% of the company’s stock.
Shares of NASDAQ:NVDA traded down $1.45 during midday trading on Thursday, hitting $148.62. 5,272,299 shares of the stock were exchanged, compared to its average volume of 8,953,856. The company has a quick ratio of 7.78, a current ratio of 8.98 and a debt-to-equity ratio of 0.25. NVIDIA Co. has a 52-week low of $124.46 and a 52-week high of $292.76. The stock’s fifty day moving average is $163.99. The company has a market cap of $92.23 billion, a P/E ratio of 24.48, a PEG ratio of 3.88 and a beta of 2.07.
NVIDIA (NASDAQ:NVDA) last posted its earnings results on Thursday, May 16th. The computer hardware maker reported $0.88 earnings per share for the quarter, beating 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 company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the company earned $2.05 earnings per share. The business’s revenue was down 30.8% compared to the same quarter last year. On average, analysts anticipate that NVIDIA Co. will post 4.16 EPS for the current fiscal year.
A number of equities analysts have issued reports on the company. BidaskClub lowered NVIDIA from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Wedbush started coverage on NVIDIA in a research note on Wednesday, June 26th. They set an “outperform” rating and a $184.00 price objective for the company. Wells Fargo & Co reissued a “buy” rating on shares of NVIDIA in a research note on Monday. Zacks Investment Research lowered NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Finally, Morgan Stanley raised their price objective on NVIDIA from $148.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Monday, May 13th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-six have assigned a buy rating to the stock. NVIDIA has an average rating of “Buy” and a consensus price target of $194.07.
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 transaction, the chief financial officer now directly owns 239,710 shares in the company, valued at $39,314,837.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Persis Drell sold 2,500 shares of NVIDIA stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $166.80, for a total value of $417,000.00. Following the completion of the transaction, the director now owns 20,684 shares in the company, valued at $3,450,091.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,736 shares of company stock worth $15,293,726. Corporate insiders own 4.64% of the company’s stock.
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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