Guinness Asset Management Ltd lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 26.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,970 shares of the computer hardware maker’s stock after acquiring an additional 9,710 shares during the period. NVIDIA accounts for 1.3% of Guinness Asset Management Ltd’s holdings, making the stock its 29th largest position. Guinness Asset Management Ltd’s holdings in NVIDIA were worth $7,714,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Thor Advisors LLC acquired a new position in NVIDIA during the first quarter worth $29,000. Harvest Group Wealth Management LLC acquired a new position in NVIDIA during the first quarter worth $30,000. Truvestments Capital LLC acquired a new position in NVIDIA during the first quarter worth $33,000. Field & Main Bank acquired a new position in NVIDIA during the second quarter worth $33,000. Finally, Sound Income Strategies LLC boosted its stake in NVIDIA by 96.2% during the second quarter. Sound Income Strategies LLC now owns 204 shares of the computer hardware maker’s stock worth $34,000 after buying an additional 100 shares during the last quarter. 67.47% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NVDA stock traded up $1.09 on Tuesday, hitting $151.88. The stock had a trading volume of 5,243,158 shares, compared to its average volume of 9,389,096. 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 firm has a market capitalization of $98.16 billion, a price-to-earnings ratio of 25.02, a P/E/G ratio of 4.13 and a beta of 2.07. NVIDIA Co. has a 1 year low of $124.46 and a 1 year high of $292.76. The firm has a 50 day moving average of $163.66.
A number of equities analysts have weighed in on the company. BidaskClub lowered NVIDIA from a “buy” rating to a “hold” rating in a research note on Saturday. Stifel Nicolaus lowered their price objective on NVIDIA from $150.00 to $145.00 and set a “hold” rating on the stock in a research note on Tuesday, May 14th. Summit Insights lowered NVIDIA from a “buy” rating to a “hold” rating and set a $158.57 price objective on the stock. in a research note on Friday, May 17th. Cascend Securities raised NVIDIA from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a research note on Thursday, July 11th. Finally, DZ Bank lowered NVIDIA to a “sell” rating and set a $170.00 price objective on the stock. in a research note on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $194.34.
In related news, CFO Colette Kress sold 2,236 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 239,710 shares in the company, valued at approximately $39,314,837.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were 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 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 quarter. Company 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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