Patton Albertson Miller Group LLC lowered its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 23.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,488 shares of the computer hardware maker’s stock after selling 8,116 shares during the period. NVIDIA Corporation accounts for about 1.9% of Patton Albertson Miller Group LLC’s investment portfolio, making the stock its 8th largest position. Patton Albertson Miller Group LLC’s holdings in NVIDIA Corporation were worth $4,350,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Arizona State Retirement System raised its stake in shares of NVIDIA Corporation by 1.2% in the second quarter. Arizona State Retirement System now owns 147,516 shares of the computer hardware maker’s stock worth $21,325,000 after buying an additional 1,700 shares during the last quarter. Summit Securities Group LLC raised its stake in shares of NVIDIA Corporation by 17.0% in the second quarter. Summit Securities Group LLC now owns 11,700 shares of the computer hardware maker’s stock worth $1,691,000 after buying an additional 1,700 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of NVIDIA Corporation by 31.2% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,245 shares of the computer hardware maker’s stock worth $469,000 after buying an additional 772 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of NVIDIA Corporation by 5.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,861,037 shares of the computer hardware maker’s stock worth $269,032,000 after buying an additional 90,536 shares during the last quarter. Finally, Wetherby Asset Management Inc. raised its stake in shares of NVIDIA Corporation by 19.9% in the second quarter. Wetherby Asset Management Inc. now owns 8,978 shares of the computer hardware maker’s stock worth $1,298,000 after buying an additional 1,487 shares during the last quarter. Institutional investors own 68.91% of the company’s stock.

NVIDIA Corporation (NVDA) opened at 164.74 on Friday. The company has a 50 day moving average of $159.56 and a 200 day moving average of $127.02. NVIDIA Corporation has a 1-year low of $57.32 and a 1-year high of $174.56. The firm has a market capitalization of $98.02 billion, a PE ratio of 55.30 and a beta of 1.24.

NVIDIA Corporation (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.32. NVIDIA Corporation had a net margin of 25.95% and a return on equity of 36.40%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the firm posted $0.53 EPS. NVIDIA Corporation’s quarterly revenue was up 56.2% on a year-over-year basis. Analysts forecast that NVIDIA Corporation will post $3.10 EPS for the current year.

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A number of brokerages recently weighed in on NVDA. Loop Capital reiterated a “buy” rating and set a $181.00 price objective on shares of NVIDIA Corporation in a report on Friday. Needham & Company LLC reiterated a “buy” rating on shares of NVIDIA Corporation in a report on Friday. Barclays PLC lifted their price objective on shares of NVIDIA Corporation to $140.00 and gave the company an “equal weight” rating in a report on Friday. Vetr upgraded shares of NVIDIA Corporation from a “hold” rating to a “buy” rating and set a $178.63 price objective for the company in a report on Thursday. Finally, Canaccord Genuity reiterated a “buy” rating and set a $180.00 price objective on shares of NVIDIA Corporation in a report on Thursday. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $140.98.

In related news, insider Michael Byron sold 25,507 shares of NVIDIA Corporation stock in a transaction on Friday, May 19th. The shares were sold at an average price of $137.09, for a total value of $3,496,754.63. Following the transaction, the insider now directly owns 162,706 shares in the company, valued at approximately $22,305,365.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ajay K. Puri sold 81,931 shares of NVIDIA Corporation stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $139.90, for a total transaction of $11,462,146.90. Following the completion of the transaction, the executive vice president now owns 564,696 shares in the company, valued at $79,000,970.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 572,282 shares of company stock worth $86,830,082. 5.82% of the stock is currently owned by insiders.

About NVIDIA Corporation

Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at 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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Institutional Ownership by Quarter for NVIDIA Corporation (NASDAQ:NVDA)

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