Public Employees Retirement Association of Colorado lessened its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 105,422 shares of the computer hardware maker’s stock after selling 6,130 shares during the period. Public Employees Retirement Association of Colorado’s holdings in NVIDIA were worth $17,313,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the business. Thor Advisors LLC purchased a new stake in shares of NVIDIA in the first quarter worth about $29,000. Harvest Group Wealth Management LLC bought a new position in NVIDIA in the first quarter worth approximately $30,000. Truvestments Capital LLC bought a new position in NVIDIA in the first quarter worth approximately $33,000. Creative Financial Designs Inc. ADV grew its stake in NVIDIA by 181.2% in the first quarter. Creative Financial Designs Inc. ADV now owns 194 shares of the computer hardware maker’s stock worth $35,000 after purchasing an additional 125 shares in the last quarter. Finally, Field & Main Bank bought a new position in NVIDIA in the second quarter worth approximately $33,000. 67.54% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently issued reports on NVDA. Morgan Stanley increased their price objective on NVIDIA from $148.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Monday, May 13th. Summit Redstone lowered NVIDIA to a “hold” rating in a report on Friday, May 17th. Royal Bank of Canada lowered their target price on NVIDIA from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Tuesday. Cascend Securities upgraded NVIDIA from a “hold” rating to a “buy” rating and set a $190.00 target price for the company in a report on Thursday, July 11th. Finally, Sanford C. Bernstein set a $150.00 target price on NVIDIA and gave the stock a “hold” rating in a report on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-six have given a buy rating to the company. NVIDIA presently has a consensus rating of “Buy” and an average target price of $194.07.
Shares of NVDA traded down $1.00 during midday trading on Wednesday, hitting $150.45. 3,299,503 shares of the company’s stock traded hands, compared to its average volume of 13,085,083. The firm has a market cap of $93.90 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 3.95 and a beta of 2.07. The company has a quick ratio of 7.78, a current ratio of 8.98 and a debt-to-equity ratio of 0.25. The company’s fifty day moving average is $164.05. NVIDIA Co. has a 1 year low of $124.46 and a 1 year high of $292.76.
NVIDIA (NASDAQ:NVDA) last issued its earnings results on Thursday, May 16th. The computer hardware maker reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.07. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.20 billion. NVIDIA had a return on equity of 31.27% and a net margin of 30.68%. The firm’s quarterly revenue was down 30.8% on a year-over-year basis. During the same quarter last year, the business posted $2.05 EPS. As a group, research analysts expect that NVIDIA Co. will post 4.16 EPS for the current fiscal year.
In related news, Director Persis Drell sold 2,500 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $166.80, for a total value of $417,000.00. Following the completion of the transaction, the director now owns 20,684 shares in the company, valued at approximately $3,450,091.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harvey C. Jones sold 100,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $145.10, for a total value of $14,510,000.00. Following the completion of the transaction, the director now owns 32,983 shares of the company’s stock, valued at approximately $4,785,833.30. The disclosure for this sale can be found here. Insiders sold a total of 104,736 shares of company stock valued at $15,293,726 in the last 90 days. 4.64% of the stock is currently owned by company insiders.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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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