NVIDIA Co. (NVDA) Position Lessened by Shikiar Asset Management Inc.

Shikiar Asset Management Inc. trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.0% in the second quarter, Holdings Channel reports. The firm owned 29,905 shares of the computer hardware maker’s stock after selling 925 shares during the period. NVIDIA comprises 3.0% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 13th largest holding. Shikiar Asset Management Inc.’s holdings in NVIDIA were worth $7,084,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Concorde Asset Management LLC increased its position in shares of NVIDIA by 16.3% during the 2nd quarter. Concorde Asset Management LLC now owns 1,481 shares of the computer hardware maker’s stock worth $351,000 after purchasing an additional 208 shares during the last quarter. Amarillo National Bank increased its position in shares of NVIDIA by 19.1% during the 2nd quarter. Amarillo National Bank now owns 1,358 shares of the computer hardware maker’s stock worth $322,000 after purchasing an additional 218 shares during the last quarter. Bbva Compass Bancshares Inc. increased its position in shares of NVIDIA by 12.3% during the 1st quarter. Bbva Compass Bancshares Inc. now owns 1,995 shares of the computer hardware maker’s stock worth $462,000 after purchasing an additional 219 shares during the last quarter. Commerce Bank increased its position in shares of NVIDIA by 2.3% during the 1st quarter. Commerce Bank now owns 9,934 shares of the computer hardware maker’s stock worth $2,301,000 after purchasing an additional 220 shares during the last quarter. Finally, Gofen & Glossberg LLC IL increased its position in shares of NVIDIA by 1.6% during the 2nd quarter. Gofen & Glossberg LLC IL now owns 14,383 shares of the computer hardware maker’s stock worth $3,407,000 after purchasing an additional 225 shares during the last quarter. 64.84% of the stock is owned by hedge funds and other institutional investors.

Several research firms have weighed in on NVDA. SunTrust Banks lifted their target price on NVIDIA to $316.00 and gave the company a “buy” rating in a research report on Friday, May 11th. Bank of America reaffirmed a “buy” rating and issued a $340.00 target price on shares of NVIDIA in a research report on Friday, May 11th. Stifel Nicolaus lifted their target price on NVIDIA from $220.00 to $243.00 and gave the company a “hold” rating in a research report on Friday, May 11th. B. Riley lifted their target price on NVIDIA from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, May 11th. Finally, Rosenblatt Securities lifted their target price on NVIDIA from $300.00 to $315.00 in a research report on Friday, May 11th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $264.62.

In related news, CFO Colette Kress sold 889 shares of the business’s stock in a transaction that occurred on Thursday, June 21st. The stock was sold at an average price of $257.64, for a total transaction of $229,041.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director A Brooke Seawell sold 21,029 shares of the business’s stock in a transaction that occurred on Tuesday, June 5th. The stock was sold at an average price of $264.65, for a total value of $5,565,324.85. Following the sale, the director now owns 21,992 shares of the company’s stock, valued at approximately $5,820,182.80. The disclosure for this sale can be found here. Insiders sold a total of 308,308 shares of company stock valued at $77,491,336 in the last quarter. Company insiders own 4.70% of the company’s stock.

Shares of NVIDIA opened at $252.02 on Monday, according to MarketBeat.com. The company has a debt-to-equity ratio of 0.26, a current ratio of 8.54 and a quick ratio of 7.82. The stock has a market capitalization of $152.98 billion, a PE ratio of 53.97, a P/E/G ratio of 3.47 and a beta of 1.53. NVIDIA Co. has a 1 year low of $152.91 and a 1 year high of $269.20.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, May 10th. The computer hardware maker reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.58. The business had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $2.88 billion. NVIDIA had a return on equity of 52.18% and a net margin of 34.44%. The business’s quarterly revenue was up 65.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. sell-side analysts expect that NVIDIA Co. will post 7.08 EPS for the current year.

NVIDIA Company Profile

NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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