Logan Capital Management Inc. decreased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 8.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,555 shares of the computer hardware maker’s stock after selling 228 shares during the quarter. Logan Capital Management Inc.’s holdings in NVIDIA were worth $420,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in NVDA. FMR LLC raised its stake in NVIDIA by 1.8% during the 1st quarter. FMR LLC now owns 49,860,097 shares of the computer hardware maker’s stock valued at $8,952,880,000 after purchasing an additional 858,116 shares during the period. Jennison Associates LLC boosted its holdings in NVIDIA by 10.6% during the 1st quarter. Jennison Associates LLC now owns 7,857,550 shares of the computer hardware maker’s stock valued at $1,410,902,000 after acquiring an additional 753,001 shares during the period. Baillie Gifford & Co. boosted its holdings in NVIDIA by 16.0% during the 1st quarter. Baillie Gifford & Co. now owns 7,647,342 shares of the computer hardware maker’s stock valued at $1,373,156,000 after acquiring an additional 1,052,689 shares during the period. Northern Trust Corp boosted its holdings in NVIDIA by 1.4% during the 1st quarter. Northern Trust Corp now owns 6,952,640 shares of the computer hardware maker’s stock valued at $1,248,416,000 after acquiring an additional 94,198 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in NVIDIA by 4.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,141,135 shares of the computer hardware maker’s stock valued at $564,022,000 after acquiring an additional 119,896 shares during the period. 67.47% of the stock is owned by institutional investors.
A number of research firms recently issued reports on NVDA. Cascend Securities upgraded NVIDIA from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a report on Thursday, July 11th. Zacks Investment Research
NASDAQ:NVDA traded down $2.73 during midday trading on Monday, reaching $151.45. The company had a trading volume of 6,830,584 shares, compared to its average volume of 13,111,220. The firm has a market cap of $96.38 billion, a price-to-earnings ratio of 24.95, a price-to-earnings-growth ratio of 4.05 and a beta of 2.07. The company has a debt-to-equity ratio of 0.25, a current ratio of 8.98 and a quick ratio of 7.78. The business’s fifty day simple moving average is $163.89. NVIDIA Co. has a 12-month low of $124.46 and a 12-month high of $292.76.
NVIDIA (NASDAQ:NVDA) last announced its quarterly 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. NVIDIA had a return on equity of 31.27% and a net margin of 30.68%. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the business earned $2.05 EPS. NVIDIA’s revenue for the quarter was down 30.8% on a year-over-year basis. As a group, equities research analysts predict that NVIDIA Co. will post 4.16 earnings per share for the current fiscal year.
In other NVIDIA news, Director Persis Drell sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $166.80, for a total transaction of $417,000.00. Following the transaction, the director now owns 20,684 shares in the company, valued at approximately $3,450,091.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 2,236 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $164.01, for a total value of $366,726.36. Following the transaction, the chief financial officer now owns 239,710 shares in the company, valued at approximately $39,314,837.10. The disclosure for this sale can be found here. Insiders have sold 104,736 shares of company stock worth $15,293,726 in the last quarter. Insiders own 4.64% of the company’s stock.
NVIDIA Company Profile
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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