Wright Investors Service Inc. Increases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Wright Investors Service Inc. lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,179 shares of the computer hardware maker’s stock after buying an additional 156 shares during the quarter. Wright Investors Service Inc.’s holdings in NVIDIA were worth $522,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in NVDA. Bay Harbor Wealth Management LLC increased its holdings in NVIDIA by 41.4% during the 1st quarter. Bay Harbor Wealth Management LLC now owns 205 shares of the computer hardware maker’s stock worth $37,000 after purchasing an additional 60 shares during the last quarter. LS Investment Advisors LLC increased its holdings in NVIDIA by 0.5% during the 1st quarter. LS Investment Advisors LLC now owns 11,952 shares of the computer hardware maker’s stock worth $2,146,000 after purchasing an additional 62 shares during the last quarter. McIlrath & Eck LLC increased its holdings in NVIDIA by 14.5% during the 1st quarter. McIlrath & Eck LLC now owns 496 shares of the computer hardware maker’s stock worth $89,000 after purchasing an additional 63 shares during the last quarter. Tradewinds Capital Management LLC increased its holdings in NVIDIA by 19.8% during the 1st quarter. Tradewinds Capital Management LLC now owns 393 shares of the computer hardware maker’s stock worth $71,000 after purchasing an additional 65 shares during the last quarter. Finally, Sky Investment Group LLC increased its holdings in NVIDIA by 0.9% during the 1st quarter. Sky Investment Group LLC now owns 7,160 shares of the computer hardware maker’s stock worth $1,286,000 after purchasing an additional 67 shares during the last quarter. Institutional investors and hedge funds own 67.54% of the company’s stock.

In other news, Director Persis Drell sold 2,500 shares of the business’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 sale, the director now owns 20,684 shares of the company’s stock, valued at approximately $3,450,091.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harvey C. Jones sold 100,000 shares of the business’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 sale, the director now directly owns 32,983 shares in the company, 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 worth $15,293,726 in the last three months. Company insiders own 4.64% of the company’s stock.

NASDAQ:NVDA traded down $1.46 during midday trading on Thursday, reaching $148.61. 449,834 shares of the company traded hands, compared to its average volume of 8,953,856. NVIDIA Co. has a twelve month low of $124.46 and a twelve month high of $292.76. The stock has a market capitalization of $92.23 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 3.88 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 firm has a fifty day moving average of $163.99.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, May 16th. The computer hardware maker reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.07. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.20 billion. NVIDIA had a return on equity of 31.27% and a net margin of 30.68%. The firm’s revenue for the quarter was down 30.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.05 EPS. On average, sell-side analysts predict that NVIDIA Co. will post 4.16 earnings per share for the current year.

Several equities research analysts have issued reports on the company. Summit Redstone downgraded NVIDIA to a “hold” rating in a report on Friday, May 17th. Morgan Stanley lifted their price objective on NVIDIA from $148.00 to $170.00 and gave the stock an “equal weight” rating in a report on Monday, May 13th. Wedbush assumed coverage on NVIDIA in a report on Wednesday, June 26th. They set an “outperform” rating and a $184.00 price objective on the stock. UBS Group dropped their price objective on NVIDIA from $210.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, May 17th. Finally, Cascend Securities upgraded NVIDIA from a “hold” rating to a “buy” rating and set a $190.00 target price for the company in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-six have issued a buy rating to the company’s stock. NVIDIA presently has a consensus rating of “Buy” and an average price target of $194.07.

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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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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