EFG Asset Management Americas Corp. reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 24.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,417 shares of the computer hardware maker’s stock after selling 2,654 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in NVIDIA were worth $3,198,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in NVDA. Accurate Investment Solutions Inc. raised its position in shares of NVIDIA by 111.1% in the first quarter. Accurate Investment Solutions Inc. now owns 95 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 50 shares during the period. PrairieView Partners LLC bought a new position in shares of NVIDIA in the first quarter valued at approximately $26,000. Horan Securities Inc. bought a new position in shares of NVIDIA in the first quarter valued at approximately $33,000. AlphaCore Capital LLC bought a new position in shares of NVIDIA in the first quarter valued at approximately $40,000. Finally, Ellevest Inc. increased its position in NVIDIA by 256.7% during the second quarter. Ellevest Inc. now owns 107 shares of the computer hardware maker’s stock worth $41,000 after acquiring an additional 77 shares during the period. 68.80% of the stock is currently owned by institutional investors.
NVIDIA stock traded up $0.03 during mid-day trading on Friday, hitting $424.59. 9,657,150 shares of the company’s stock traded hands, compared to its average volume of 8,772,753. The firm has a 50 day simple moving average of $391.19 and a two-hundred day simple moving average of $308.27. NVIDIA Co. has a fifty-two week low of $147.39 and a fifty-two week high of $431.69. The stock has a market cap of $261.10 billion, a price-to-earnings ratio of 79.36, a P/E/G ratio of 3.83 and a beta of 1.35. The company has a debt-to-equity ratio of 0.57, a current ratio of 10.29 and a quick ratio of 9.70.
In related news, EVP Ajay K. Puri sold 1,078 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $364.97, for a total value of $393,437.66. Following the transaction, the executive vice president now owns 68,046 shares in the company, valued at $24,834,748.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director A Brooke Seawell sold 629 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $366.27, for a total value of $230,383.83. Following the completion of the transaction, the director now owns 16,159 shares in the company, valued at approximately $5,918,556.93. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 24 shares of company stock valued at $7,836 and have sold 263,430 shares valued at $98,818,407. Company insiders own 4.47% of the company’s stock.
NVDA has been the topic of a number of research reports. Benchmark boosted their target price on shares of NVIDIA from $320.00 to $410.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Needham & Company LLC began coverage on shares of NVIDIA in a research report on Wednesday, June 24th. They set a “buy” rating and a $400.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on shares of NVIDIA from $305.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Nomura Instinet boosted their price target on shares of NVIDIA from $230.00 to $260.00 and gave the company a “reduce” rating in a report on Friday, May 22nd. Finally, UBS Group boosted their price target on shares of NVIDIA from $330.00 to $400.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. NVIDIA presently has a consensus rating of “Buy” and an average price target of $368.89.
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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