NEXT Financial Group Inc reduced its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 63.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,084 shares of the computer hardware maker’s stock after selling 10,517 shares during the period. NEXT Financial Group Inc’s holdings in NVIDIA were worth $1,177,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Cibc World Markets Corp grew its position in NVIDIA by 12.1% during the second quarter. Cibc World Markets Corp now owns 128,316 shares of the computer hardware maker’s stock valued at $18,549,000 after acquiring an additional 13,802 shares during the last quarter. SG Americas Securities LLC grew its position in NVIDIA by 160.9% during the third quarter. SG Americas Securities LLC now owns 195,787 shares of the computer hardware maker’s stock valued at $35,001,000 after acquiring an additional 120,734 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in NVIDIA by 1.2% during the third quarter. State Board of Administration of Florida Retirement System now owns 829,595 shares of the computer hardware maker’s stock valued at $148,307,000 after acquiring an additional 9,565 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in NVIDIA by 3.8% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,932,495 shares of the computer hardware maker’s stock valued at $345,473,000 after acquiring an additional 71,458 shares during the last quarter. Finally, Spectrum Management Group Inc. bought a new position in NVIDIA during the third quarter valued at approximately $383,000. Institutional investors and hedge funds own 63.40% of the company’s stock.
In other news, Director Dawn E. Hudson sold 15,000 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $213.44, for a total transaction of $3,201,600.00. Following the completion of the transaction, the director now directly owns 46,868 shares in the company, valued at $10,003,505.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 171 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $185.57, for a total value of $31,732.47. The disclosure for this sale can be found here. Insiders have sold 19,858 shares of company stock valued at $4,227,384 over the last 90 days. Corporate insiders own 5.17% of the company’s stock.
NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.39. NVIDIA had a return on equity of 42.71% and a net margin of 28.78%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the company earned $0.94 earnings per share. The company’s revenue was up 31.5% on a year-over-year basis. sell-side analysts predict that NVIDIA Corporation will post 4.19 EPS for the current fiscal year.
A number of research firms have recently weighed in on NVDA. Vetr lowered NVIDIA from a “buy” rating to a “hold” rating and set a $179.35 price objective for the company. in a research note on Monday, September 18th. Royal Bank of Canada reissued a “buy” rating and set a $205.00 price objective (up previously from $175.00) on shares of NVIDIA in a research note on Monday, September 18th. B. Riley reissued a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research note on Thursday, September 21st. Sanford C. Bernstein reissued an “outperform” rating on shares of NVIDIA in a research note on Saturday, September 23rd. Finally, Craig Hallum reissued a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research note on Saturday, September 23rd. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $192.45.
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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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