NVIDIA Corporation (NASDAQ:NVDA) Shares Bought by Grassi Investment Management

Grassi Investment Management increased its stake in NVIDIA Corporation (NASDAQ:NVDA) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,090 shares of the computer hardware maker’s stock after buying an additional 1,685 shares during the period. NVIDIA Corporation accounts for 2.0% of Grassi Investment Management’s investment portfolio, making the stock its 7th largest position. Grassi Investment Management’s holdings in NVIDIA Corporation were worth $11,144,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Raymond James Trust N.A. boosted its stake in NVIDIA Corporation by 20.3% in the first quarter. Raymond James Trust N.A. now owns 12,806 shares of the computer hardware maker’s stock valued at $1,395,000 after buying an additional 2,160 shares in the last quarter. Catawba Capital Management VA acquired a new stake in NVIDIA Corporation during the first quarter valued at approximately $218,000. Fulton Bank N.A. acquired a new stake in NVIDIA Corporation during the first quarter valued at approximately $326,000. CENTRAL TRUST Co boosted its stake in NVIDIA Corporation by 6.3% in the first quarter. CENTRAL TRUST Co now owns 7,056 shares of the computer hardware maker’s stock valued at $769,000 after buying an additional 416 shares in the last quarter. Finally, Atalanta Sosnoff Capital LLC acquired a new stake in NVIDIA Corporation during the first quarter valued at approximately $39,192,000. 68.83% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Corporation (NASDAQ NVDA) opened at 167.50 on Friday. The stock has a 50 day moving average price of $153.14 and a 200-day moving average price of $120.55. NVIDIA Corporation has a 1-year low of $53.02 and a 1-year high of $168.50. The company has a market capitalization of $99.66 billion, a price-to-earnings ratio of 56.23 and a beta of 1.23.

NVIDIA Corporation (NASDAQ:NVDA) last issued its earnings results on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.16. NVIDIA Corporation had a net margin of 25.95% and a return on equity of 36.40%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the business posted $0.46 EPS. NVIDIA Corporation’s revenue was up 48.7% on a year-over-year basis. Equities analysts predict that NVIDIA Corporation will post $3.09 earnings per share for the current year.

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Several analysts recently commented on the company. Canaccord Genuity restated a “buy” rating and issued a $155.00 target price on shares of NVIDIA Corporation in a research report on Monday. Royal Bank Of Canada restated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA Corporation in a research report on Thursday, July 13th. Argus raised their target price on NVIDIA Corporation from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, June 9th. Bank of America Corporation restated a “buy” rating and issued a $185.00 target price (up from $155.00) on shares of NVIDIA Corporation in a research report on Friday, June 9th. Finally, Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of NVIDIA Corporation in a research report on Tuesday, June 20th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $133.80.

In related news, Director Tench Coxe sold 50,000 shares of the firm’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $129.48, for a total value of $6,474,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Persis Drell sold 2,500 shares of the firm’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $130.02, for a total transaction of $325,050.00. Following the completion of the sale, the director now owns 24,652 shares of the company’s stock, valued at $3,205,253.04. The disclosure for this sale can be found here. Insiders sold a total of 622,282 shares of company stock valued at $93,304,082 over the last quarter. 5.82% of the stock is currently owned by company insiders.

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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