Guinness Asset Management Ltd lowered its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 20.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,850 shares of the computer hardware maker’s stock after selling 5,830 shares during the period. Guinness Asset Management Ltd’s holdings in NVIDIA Corporation were worth $3,303,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the stock. Greenwich Wealth Management LLC increased its stake in NVIDIA Corporation by 0.6% in the first quarter. Greenwich Wealth Management LLC now owns 55,437 shares of the computer hardware maker’s stock valued at $6,039,000 after buying an additional 357 shares in the last quarter. Columbus Circle Investors purchased a new stake in NVIDIA Corporation during the first quarter valued at approximately $8,530,000. Ameriprise Financial Inc. increased its stake in NVIDIA Corporation by 46.6% in the first quarter. Ameriprise Financial Inc. now owns 5,257,325 shares of the computer hardware maker’s stock valued at $572,695,000 after buying an additional 1,672,231 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in NVIDIA Corporation by 6.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 308,211 shares of the computer hardware maker’s stock valued at $33,573,000 after buying an additional 19,245 shares in the last quarter. Finally, Menora Mivtachim Holdings LTD. purchased a new stake in NVIDIA Corporation during the first quarter valued at approximately $17,244,000. Hedge funds and other institutional investors own 68.91% of the company’s stock.
NVIDIA Corporation (NASDAQ NVDA) opened at 172.11 on Thursday. The stock’s 50 day moving average price is $159.41 and its 200 day moving average price is $126.75. The company has a market capitalization of $102.41 billion, a price-to-earnings ratio of 57.77 and a beta of 1.24. NVIDIA Corporation has a 12 month low of $57.32 and a 12 month high of $174.56.
NVIDIA Corporation (NASDAQ:NVDA) last posted its earnings results on Tuesday, May 9th. The computer hardware maker reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.16. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.91 billion. NVIDIA Corporation had a return on equity of 36.40% and a net margin of 25.95%. The firm’s revenue for the quarter was up 48.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.46 earnings per share. Equities research analysts anticipate that NVIDIA Corporation will post $3.10 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: “Guinness Asset Management Ltd Cuts Stake in NVIDIA Corporation (NVDA)” was originally reported by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this piece of content on another site, it was stolen and republished in violation of US & international trademark and copyright law. The original version of this piece of content can be viewed at https://stocknewstimes.com/2017/08/10/guinness-asset-management-ltd-decreases-stake-in-nvidia-corporation-nvda-updated-updated.html.
Several equities research analysts recently issued reports on the company. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $171.00 price target (up previously from $165.00) on shares of NVIDIA Corporation in a report on Wednesday, June 14th. Zacks Investment Research downgraded NVIDIA Corporation from a “hold” rating to a “sell” rating in a report on Thursday, April 13th. CLSA reiterated an “underperform” rating and set a $115.00 price target on shares of NVIDIA Corporation in a report on Wednesday, May 10th. Pacific Crest reiterated an “underweight” rating and set a $90.00 price target on shares of NVIDIA Corporation in a report on Monday, May 8th. Finally, Vetr downgraded NVIDIA Corporation from a “strong-buy” rating to a “buy” rating and set a $174.02 price target for the company. in a report on Tuesday, July 11th. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company. NVIDIA Corporation presently has a consensus rating of “Hold” and a consensus target price of $136.64.
In other NVIDIA Corporation news, Director Harvey C. Jones sold 100,000 shares of the business’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 transaction of $15,029,000.00. Following the sale, the director now directly owns 30,762 shares of the company’s stock, valued at $4,623,220.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Harvey C. Jones sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $150.84, for a total value of $7,542,000.00. Following the transaction, the director now directly owns 30,762 shares in the company, valued at approximately $4,640,140.08. The disclosure for this sale can be found here. Insiders sold 572,282 shares of company stock worth $86,830,082 over the last quarter. 5.82% of the stock is 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.
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.
