NVIDIA Corporation (NVDA) : Contour Asset Management reduced its stake in NVIDIA Corporation by 47.83% during the most recent quarter end. The investment management company now holds a total of 892,068 shares of NVIDIA Corporation which is valued at $74,612,568 after selling 817,795 shares in NVIDIA Corporation , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.NVIDIA Corporation makes up approximately 5.23% of Contour Asset Management’s portfolio.
Other Hedge Funds, Including , Envestnet Asset Management Inc reduced its stake in NVDA by selling 18,311 shares or 22.34% in the most recent quarter. The Hedge Fund company now holds 63,641 shares of NVDA which is valued at $5,322,933. NVIDIA Corporation makes up approx 0.02% of Envestnet Asset Management Inc’s portfolio.Livforsakringsbolaget Skandia Omsesidigt boosted its stake in NVDA in the latest quarter, The investment management firm added 43,000 additional shares and now holds a total of 114,777 shares of NVIDIA Corporation which is valued at $7,925,352. NVIDIA Corporation makes up approx 0.40% of Livforsakringsbolaget Skandia Omsesidigt’s portfolio.Commonwealth Equity Services Inc boosted its stake in NVDA in the latest quarter, The investment management firm added 15,094 additional shares and now holds a total of 92,238 shares of NVIDIA Corporation which is valued at $6,629,145. NVIDIA Corporation makes up approx 0.05% of Commonwealth Equity Services Inc’s portfolio.Sumitomo Life Insurance Co reduced its stake in NVDA by selling 13,186 shares or 26.81% in the most recent quarter. The Hedge Fund company now holds 36,003 shares of NVDA which is valued at $2,587,536. NVIDIA Corporation makes up approx 0.39% of Sumitomo Life Insurance Co’s portfolio.Kwmg reduced its stake in NVDA by selling 2,756 shares or 11.28% in the most recent quarter. The Hedge Fund company now holds 21,675 shares of NVDA which is valued at $1,532,639. NVIDIA Corporation makes up approx 0.75% of Kwmg’s portfolio.
NVIDIA Corporation opened for trading at $92.39 and hit $94.33 on the upside on Monday, eventually ending the session at $93.36, with a gain of 1.05% or 0.97 points. The heightened volatility saw the trading volume jump to 1,44,01,499 shares. Company has a market cap of $49,948 M.
On the company’s financial health, NVIDIA Corporation reported $0.94 EPS for the quarter, beating the analyst consensus estimate by $ 0.26 according to the earnings call on Nov 10, 2016. Analyst had a consensus of $0.68. The company had revenue of $2004.00 million for the quarter, compared to analysts expectations of $1691.72 million. The company’s revenue was up 53.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS.
Investors should note that on Nov 10, 2016, NVIDIA Corporation announced a cash dividend of $0.1400. The company’s management has announced Nov 23, 2016 as the ex-dividend date and fixed the record date on Nov 28, 2016. The payable date has been fixed on Dec 19, 2016.
Many Wall Street Analysts have commented on NVIDIA Corporation. Needham Upgraded NVIDIA Corporation on Nov 14, 2016 to ” Buy”, Price Target of the shares are set at $100.Company shares were Reiterated by Mizuho on Nov 11, 2016 to “Buy”, Firm has raised the Price Target to $ 80 from a previous price target of $66 .Company shares were Reiterated by RBC Capital Mkts on Nov 8, 2016 to “Outperform”, Firm has raised the Price Target to $ 80 from a previous price target of $72 .
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.