Traynor Capital Management Inc. raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 2.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,569 shares of the computer hardware maker’s stock after acquiring an additional 489 shares during the quarter. NVIDIA accounts for about 1.2% of Traynor Capital Management Inc.’s holdings, making the stock its 19th biggest position. Traynor Capital Management Inc.’s holdings in NVIDIA were worth $3,584,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the business. Hedeker Wealth LLC lifted its holdings in NVIDIA by 28.2% in the second quarter. Hedeker Wealth LLC now owns 10,190 shares of the computer hardware maker’s stock valued at $1,673,000 after acquiring an additional 2,240 shares during the period. Ashburton Jersey Ltd increased its position in shares of NVIDIA by 20.5% in the second quarter. Ashburton Jersey Ltd now owns 1,590 shares of the computer hardware maker’s stock valued at $261,000 after buying an additional 270 shares in the last quarter. Guinness Asset Management Ltd increased its position in shares of NVIDIA by 26.1% in the second quarter. Guinness Asset Management Ltd now owns 46,970 shares of the computer hardware maker’s stock valued at $7,714,000 after buying an additional 9,710 shares in the last quarter. Guinness Atkinson Asset Management Inc increased its position in shares of NVIDIA by 1.4% in the second quarter. Guinness Atkinson Asset Management Inc now owns 38,509 shares of the computer hardware maker’s stock valued at $6,324,000 after buying an additional 544 shares in the last quarter. Finally, Sumitomo Life Insurance Co. increased its position in shares of NVIDIA by 4.2% in the second quarter. Sumitomo Life Insurance Co. now owns 23,342 shares of the computer hardware maker’s stock valued at $3,833,000 after buying an additional 942 shares in the last quarter. 67.47% of the stock is owned by institutional investors.
A number of research analysts have recently weighed in on the company. Cascend Securities upgraded NVIDIA from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a research report on Thursday, July 11th. Barclays dropped their price target on NVIDIA from $220.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, June 6th. Wedbush assumed coverage on NVIDIA in a research report on Wednesday, June 26th. They issued an “outperform” rating and a $184.00 price target for the company. Summit Redstone cut NVIDIA to a “hold” rating in a research report on Friday, May 17th. Finally, Sanford C. Bernstein set a $150.00 price target on NVIDIA and gave the company a “hold” rating in a research report on Wednesday, June 26th. Three equities research 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 company. The company presently has an average rating of “Buy” and an average price target of $194.34.
NVDA traded down $0.15 during midday trading on Wednesday, hitting $152.20. The company’s stock had a trading volume of 4,438,288 shares, compared to its average volume of 9,389,096. The company has a current ratio of 8.98, a quick ratio of 7.78 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $98.16 billion, a price-to-earnings ratio of 25.07, a P/E/G ratio of 4.13 and a beta of 2.07. The firm has a 50-day simple moving average of $163.78. NVIDIA Co. has a 52-week low of $124.46 and a 52-week high of $292.76.
NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, May 16th. The computer hardware maker reported $0.88 EPS for the quarter, beating the consensus estimate of $0.81 by $0.07. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.20 billion. NVIDIA had a return on equity of 31.27% and a net margin of 30.68%. The firm’s revenue 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 forecast that NVIDIA Co. will post 4.16 earnings per share for the current fiscal year.
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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