Meritage Portfolio Management Lowers stake in NVIDIA Corporation (NVDA)

NVIDIA Corporation (NVDA) : Meritage Portfolio Management reduced its stake in NVIDIA Corporation by 1.93% during the most recent quarter end. The investment management company now holds a total of 349,894 shares of NVIDIA Corporation which is valued at $19,128,705 after selling 6,885 shares in NVIDIA Corporation , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.NVIDIA Corporation makes up approximately 2.08% of Meritage Portfolio Management’s portfolio.

Other Hedge Funds, Including , Perkins Capital Management Inc reduced its stake in NVDA by selling 500 shares or 4.8% in the most recent quarter. The Hedge Fund company now holds 9,925 shares of NVDA which is valued at $542,600. NVIDIA Corporation makes up approx 0.60% of Perkins Capital Management Inc’s portfolio. Eagle Asset Management Inc added NVDA to its portfolio by purchasing 510,475 company shares during the most recent quarter which is valued at $27,677,955. NVIDIA Corporation makes up approx 0.18% of Eagle Asset Management Inc’s portfolio.Patton Albertson Miller Group reduced its stake in NVDA by selling 14,941 shares or 14.41% in the most recent quarter. The Hedge Fund company now holds 88,764 shares of NVDA which is valued at $4,684,964. NVIDIA Corporation makes up approx 2.05% of Patton Albertson Miller Group’s portfolio. Alpha Windward sold out all of its stake in NVDA during the most recent quarter. The investment firm sold 1,339 shares of NVDA which is valued $68,088. Mazama Capital Management Inc sold out all of its stake in NVDA during the most recent quarter. The investment firm sold 113,840 shares of NVDA which is valued $5,788,764.

NVIDIA Corporation opened for trading at $53.7 and hit $54.505 on the upside on Wednesday, eventually ending the session at $54.22, with a gain of 1.31% or 0.7 points. The heightened volatility saw the trading volume jump to 74,11,502 shares. Company has a market cap of $28,953 M.

On the company’s financial health, NVIDIA Corporation reported $0.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 12, 2016. Analyst had a consensus of $0.41. The company had revenue of $1305.00 million for the quarter, compared to analysts expectations of $1264.72 million. The company’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Many Wall Street Analysts have commented on NVIDIA Corporation. NVIDIA Corporation was Downgraded by Wells Fargo to ” Underperform” on Jul 15, 2016. Mizuho Initiated NVIDIA Corporation on Jul 15, 2016 to “Buy”, Price Target of the shares are set at $60.Company shares were Reiterated by RBC Capital Mkts on Jun 17, 2016 to “Outperform”, Firm has raised the Price Target to $ 47 from a previous price target of $40 .

NVIDIA Corporation (NVIDIA) is engaged in visual computing enabling individuals to interact with digital ideas data and entertainment. The Company is engaged in creating NVIDIA-branded products and services offering its processors to original equipment manufacturers (OEMs) and licensing its intellectual property. NVIDIA-branded products and services are visual computing platforms that address four markets: Gaming Enterprise High Performance Computing & Cloud and Automotive. The Company operates in two segments: Graphics Processing Unit (GPU) and Tegra Processor. The Company’s GPU product brands include GeForce for gamers; Quadro for designers; Tesla for researchers learning and big-data analysts; and GRID for cloud-based visual computing users. The Company’s Tegra processors are primarily designed to enable its branded platforms: DRIVE and SHIELD.

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