Trillium Asset Management LLC Cuts Holdings in NVIDIA Co. (NASDAQ:NVDA)
Trillium Asset Management LLC decreased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 15.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,256 shares of the computer hardware maker’s stock after selling 4,000 shares during the period. Trillium Asset Management LLC’s holdings in NVIDIA were worth $5,603,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in NVDA. Norges Bank bought a new position in shares of NVIDIA in the 4th quarter valued at about $1,337,713,000. BlackRock Inc. lifted its holdings in shares of NVIDIA by 6.1% in the 1st quarter. BlackRock Inc. now owns 42,753,245 shares of the computer hardware maker’s stock valued at $11,269,755,000 after acquiring an additional 2,439,025 shares during the last quarter. GQG Partners LLC bought a new position in shares of NVIDIA in the 4th quarter valued at about $572,319,000. Nuveen Asset Management LLC lifted its holdings in shares of NVIDIA by 41.6% in the 4th quarter. Nuveen Asset Management LLC now owns 5,375,470 shares of the computer hardware maker’s stock valued at $1,264,848,000 after acquiring an additional 1,579,858 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of NVIDIA by 16.9% in the 1st quarter. Bank of New York Mellon Corp now owns 6,207,761 shares of the computer hardware maker’s stock valued at $1,636,366,000 after acquiring an additional 897,671 shares during the last quarter. 66.65% of the stock is owned by hedge funds and other institutional investors.
In related news, Director A Brooke Seawell sold 20,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $287.91, for a total transaction of $5,758,200.00. Following the completion of the sale, the director now owns 20,629 shares of the company’s stock, valued at approximately $5,939,295.39. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Persis Drell sold 160 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $315.73, for a total transaction of $50,516.80. Following the sale, the director now directly owns 17,859 shares of the company’s stock, valued at approximately $5,638,622.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 125,829 shares of company stock valued at $32,834,702. 4.64% of the stock is owned by corporate insiders.
NVIDIA (NASDAQ:NVDA) last released its earnings results on Thursday, February 13th. The computer hardware maker reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.22. NVIDIA had a net margin of 25.60% and a return on equity of 26.08%. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the previous year, the company earned $0.80 earnings per share. As a group, sell-side analysts predict that NVIDIA Co. will post 6.24 earnings per share for the current year.
A number of research analysts recently commented on NVDA shares. Argus increased their price target on shares of NVIDIA from $300.00 to $340.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Oppenheimer started coverage on shares of NVIDIA in a research note on Friday. They issued a “buy” rating and a $350.00 price objective for the company. Morgan Stanley raised their price objective on shares of NVIDIA from $268.00 to $282.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Craig Hallum downgraded shares of NVIDIA from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a research note on Monday, April 13th. Finally, Cowen reissued an “outperform” rating and issued a $325.00 price objective (up previously from $240.00) on shares of NVIDIA in a research note on Friday, February 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $287.79.
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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