Swedbank cut its position in NVIDIA Corporation (NASDAQ:NVDA) by 16.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,396,852 shares of the computer hardware maker’s stock after selling 271,117 shares during the period. NVIDIA Corporation accounts for 1.4% of Swedbank’s holdings, making the stock its 27th largest position. Swedbank owned 0.23% of NVIDIA Corporation worth $201,929,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. NN Investment Partners Holdings N.V. raised its stake in NVIDIA Corporation by 96.6% in the second quarter. NN Investment Partners Holdings N.V. now owns 6,837 shares of the computer hardware maker’s stock valued at $989,000 after buying an additional 3,360 shares during the last quarter. Appleton Partners Inc. MA raised its stake in 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 valued at $372,000 after buying an additional 30 shares during the last quarter. Fulton Bank N.A. raised its stake in NVIDIA Corporation by 15.6% in the second quarter. Fulton Bank N.A. now owns 3,462 shares of the computer hardware maker’s stock valued at $501,000 after buying an additional 468 shares during the last quarter. Covenant Asset Management LLC purchased a new stake in NVIDIA Corporation during the second quarter valued at approximately $260,000. Finally, Private Trust Co. NA raised its stake in NVIDIA Corporation by 7.2% in the second quarter. Private Trust Co. NA now owns 3,000 shares of the computer hardware maker’s stock valued at $433,000 after buying an additional 201 shares during the last quarter. 68.79% of the stock is currently owned by institutional investors and hedge funds.
NVIDIA Corporation (NASDAQ NVDA) traded up 0.44% on Friday, reaching $167.21. 14,727,353 shares of the company traded hands. The company has a market capitalization of $99.49 billion, a P/E ratio of 56.13 and a beta of 1.24. The company has a 50-day moving average price of $156.80 and a 200-day moving average price of $124.22. NVIDIA Corporation has a 12 month low of $55.66 and a 12 month high of $170.07.
NVIDIA Corporation (NASDAQ:NVDA) last issued its quarterly earnings data on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.16. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.91 billion. NVIDIA Corporation had a net margin of 25.95% and a return on equity of 36.40%. NVIDIA Corporation’s quarterly revenue was up 48.7% compared to the same quarter last year. During the same period last year, the firm posted $0.46 EPS. Equities research analysts expect that NVIDIA Corporation will post $3.10 EPS for the current year.
Several analysts have recently commented on NVDA shares. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $171.00 price target (up previously from $165.00) on shares of NVIDIA Corporation in a research report on Wednesday, June 14th. Zacks Investment Research lowered shares of NVIDIA Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, April 13th. CLSA reaffirmed an “underperform” rating and set a $115.00 price target on shares of NVIDIA Corporation in a research report on Wednesday, May 10th. Pacific Crest reaffirmed an “underweight” rating and set a $90.00 price target on shares of NVIDIA Corporation in a research report on Monday, May 8th. Finally, Vetr lowered shares of NVIDIA Corporation from a “strong-buy” rating to a “buy” rating and set a $174.02 price target on the stock. in a research report on Tuesday, July 11th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty have issued a buy rating and three have given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $134.48.
In related news, Director Persis Drell sold 2,500 shares of NVIDIA Corporation stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $130.02, for a total value of $325,050.00. Following the sale, the director now directly owns 24,652 shares in the company, valued at approximately $3,205,253.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Tench Coxe sold 50,000 shares of the business’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $129.48, for a total transaction of $6,474,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 622,282 shares of company stock worth $93,304,082. 5.82% of the stock is currently owned by 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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