Palisades Hudson Asset Management L.P. maintained its position in shares of NVIDIA Corporation (NASDAQ:NVDA) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,297 shares of the computer hardware maker’s stock at the end of the first quarter. Palisades Hudson Asset Management L.P.’s holdings in NVIDIA Corporation were worth $250,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in NVDA. Arete Wealth Advisors LLC boosted its stake in NVIDIA Corporation by 0.3% in the first quarter. Arete Wealth Advisors LLC now owns 2,884 shares of the computer hardware maker’s stock worth $314,000 after buying an additional 10 shares in the last quarter. Miles Capital Inc. boosted its stake in NVIDIA Corporation by 1.1% in the first quarter. Miles Capital Inc. now owns 3,919 shares of the computer hardware maker’s stock worth $427,000 after buying an additional 41 shares in the last quarter. Savant Capital LLC boosted its stake in NVIDIA Corporation by 2.7% in the first quarter. Savant Capital LLC now owns 2,270 shares of the computer hardware maker’s stock worth $247,000 after buying an additional 60 shares in the last quarter. Whittier Trust Co. boosted its stake in NVIDIA Corporation by 2.1% in the first quarter. Whittier Trust Co. now owns 3,135 shares of the computer hardware maker’s stock worth $341,000 after buying an additional 63 shares in the last quarter. Finally, Rational Advisors LLC boosted its stake in NVIDIA Corporation by 2.0% in the first quarter. Rational Advisors LLC now owns 4,045 shares of the computer hardware maker’s stock worth $441,000 after buying an additional 80 shares in the last quarter. 68.83% of the stock is owned by institutional investors.
NVIDIA Corporation (NVDA) opened at 165.96 on Wednesday. NVIDIA Corporation has a 52-week low of $53.02 and a 52-week high of $168.50. The company has a market cap of $98.75 billion, a price-to-earnings ratio of 55.71 and a beta of 1.23. The company’s 50-day moving average is $151.90 and its 200 day moving average is $119.88.
NVIDIA Corporation (NASDAQ:NVDA) last posted its quarterly earnings results on Tuesday, May 9th. The computer hardware maker reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.16. NVIDIA Corporation had a return on equity of 36.40% and a net margin of 25.95%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the firm earned $0.46 EPS. The firm’s revenue was up 48.7% compared to the same quarter last year. Equities analysts forecast that NVIDIA Corporation will post $3.09 earnings per share for the current fiscal year.
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Several analysts have weighed in on NVDA shares. B. Riley reiterated a “buy” rating and issued a $135.00 price objective on shares of NVIDIA Corporation in a research note on Monday, March 27th. UBS AG reiterated a “buy” rating and issued a $132.00 price objective on shares of NVIDIA Corporation in a research note on Monday, April 10th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $165.00 price objective (up previously from $130.00) on shares of NVIDIA Corporation in a research note on Monday, May 15th. Susquehanna Bancshares Inc reiterated a “neutral” rating on shares of NVIDIA Corporation in a research note on Monday, July 3rd. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $155.00 price objective on shares of NVIDIA Corporation in a research note on Monday. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. NVIDIA Corporation currently has an average rating of “Hold” and a consensus target price of $133.80.
In other news, Director Tench Coxe sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $164.53, for a total transaction of $8,226,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Harvey C. Jones sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $150.29, for a total value of $15,029,000.00. Following the sale, the director now directly owns 30,762 shares in the company, valued at $4,623,220.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 622,282 shares of company stock worth $93,304,082. 5.17% of the stock is owned by insiders.
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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