Montecito Bank & Trust decreased its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 43.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 7,662 shares of the computer hardware maker’s stock after selling 6,002 shares during the period. Montecito Bank & Trust’s holdings in NVIDIA Corporation were worth $1,108,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of NVDA. Arete Wealth Advisors LLC boosted its stake in shares of 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 during the period. Appleton Partners Inc. MA boosted its stake in shares of NVIDIA Corporation by 1.2% in the second quarter. Appleton Partners Inc. MA now owns 2,570 shares of the computer hardware maker’s stock worth $372,000 after buying an additional 30 shares during the period. Miles Capital Inc. boosted its stake in shares of 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 during the period. Broderick Brian C boosted its stake in shares of NVIDIA Corporation by 0.4% in the second quarter. Broderick Brian C now owns 13,806 shares of the computer hardware maker’s stock worth $1,996,000 after buying an additional 52 shares during the period. Finally, Savant Capital LLC boosted its stake in shares of 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 during the period. 68.79% of the stock is currently owned by hedge funds and other institutional investors.
NVIDIA Corporation (NASDAQ:NVDA) opened at 164.49 on Wednesday. The company has a market cap of $97.87 billion, a price-to-earnings ratio of 55.22 and a beta of 1.24. The company’s 50-day moving average price is $156.80 and its 200-day moving average price is $124.22. NVIDIA Corporation has a 52-week low of $55.66 and a 52-week high of $169.93.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings results on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.16. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.91 billion. NVIDIA Corporation had a return on equity of 36.40% and a net margin of 25.95%. NVIDIA Corporation’s quarterly revenue was up 48.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.46 earnings per share. Equities research analysts expect that NVIDIA Corporation will post $3.10 EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This piece was published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of United States & international copyright law. The legal version of this piece can be accessed at https://stocknewstimes.com/2017/08/02/montecito-bank-trust-sells-6002-shares-of-nvidia-corporation-nasdaqnvda.html.
A number of brokerages recently issued reports on NVDA. BidaskClub raised NVIDIA Corporation from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Canaccord Genuity reissued a “buy” rating and set a $180.00 price objective (up previously from $155.00) on shares of NVIDIA Corporation in a report on Monday, July 24th. Summit Redstone reissued a “buy” rating on shares of NVIDIA Corporation in a report on Saturday, July 22nd. Mizuho reissued a “buy” rating and set a $170.00 price objective on shares of NVIDIA Corporation in a report on Friday, July 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of NVIDIA Corporation in a report on Thursday, July 13th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company’s stock. NVIDIA Corporation has a consensus rating of “Hold” and an average target price of $134.48.
In other NVIDIA Corporation news, Director Tench Coxe sold 50,000 shares of the company’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $129.48, for a total transaction of $6,474,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director A Brooke Seawell sold 3,107 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $140.00, for a total value of $434,980.00. Following the sale, the director now owns 5,165 shares of the company’s stock, valued at approximately $723,100. The disclosure for this sale can be found here. Insiders sold 622,282 shares of company stock valued at $93,304,082 in the last quarter. 5.17% of the stock is owned by company 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.
Receive News & Ratings for NVIDIA Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
