Primecap Management Co. CA Has $2.40 Billion Stake in NVIDIA Corporation (NASDAQ:NVDA)

Primecap Management Co. CA decreased its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 1.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,046,580 shares of the computer hardware maker’s stock after selling 419,600 shares during the period. NVIDIA Corporation makes up 2.2% of Primecap Management Co. CA’s portfolio, making the stock its 10th largest position. Primecap Management Co. CA owned about 3.74% of NVIDIA Corporation worth $2,401,534,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in NVDA. Greenwich Wealth Management LLC increased its stake in shares of NVIDIA Corporation by 0.6% in the first quarter. Greenwich Wealth Management LLC now owns 55,437 shares of the computer hardware maker’s stock worth $6,039,000 after buying an additional 357 shares during the period. Columbus Circle Investors bought a new stake in shares of NVIDIA Corporation during the first quarter worth approximately $8,530,000. Ameriprise Financial Inc. increased its stake in shares of NVIDIA Corporation by 46.6% in the first quarter. Ameriprise Financial Inc. now owns 5,257,325 shares of the computer hardware maker’s stock worth $572,695,000 after buying an additional 1,672,231 shares during the period. Menora Mivtachim Holdings LTD. bought a new stake in shares of NVIDIA Corporation during the first quarter worth approximately $17,244,000. Finally, Koch Industries Inc. bought a new stake in shares of NVIDIA Corporation during the first quarter worth approximately $634,000. Institutional investors own 68.84% of the company’s stock.

Shares of NVIDIA Corporation (NASDAQ NVDA) opened at 164.39 on Friday. NVIDIA Corporation has a 52 week low of $55.50 and a 52 week high of $169.93. The firm has a 50-day moving average of $156.02 and a 200 day moving average of $123.09. The firm has a market capitalization of $97.81 billion, a price-to-earnings ratio of 55.18 and a beta of 1.23.

NVIDIA Corporation (NASDAQ:NVDA) last released its quarterly earnings data on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.16. NVIDIA Corporation had a net margin of 25.95% and a return on equity of 36.40%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the firm earned $0.46 earnings per share. The business’s quarterly revenue was up 48.7% compared to the same quarter last year. On average, equities analysts predict that NVIDIA Corporation will post $3.10 earnings per share for the current fiscal year.

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Several analysts have issued reports on the stock. Vetr raised shares of NVIDIA Corporation from a “buy” rating to a “strong-buy” rating and set a $117.19 target price on the stock in a research note on Thursday, May 4th. Stifel Nicolaus boosted their target price on shares of NVIDIA Corporation from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Wednesday, May 10th. Rosenblatt Securities reissued a “buy” rating and set a $140.00 target price on shares of NVIDIA Corporation in a research note on Friday, May 19th. Royal Bank Of Canada reissued an “outperform” rating and set a $175.00 target price on shares of NVIDIA Corporation in a research note on Thursday, July 13th. Finally, Zacks Investment Research raised shares of NVIDIA Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 8th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company. NVIDIA Corporation currently has an average rating of “Hold” and an average price target of $134.48.

In other news, Director Harvey C. Jones sold 145,520 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $159.31, for a total value of $23,182,791.20. Following the completion of the sale, the director now owns 30,762 shares in the company, valued at $4,900,694.22. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael Byron sold 25,507 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $137.09, for a total transaction of $3,496,754.63. Following the completion of the sale, the insider now owns 162,706 shares of the company’s stock, valued at approximately $22,305,365.54. The disclosure for this sale can be found here. Insiders sold 622,282 shares of company stock worth $93,304,082 over the last ninety days. Insiders own 5.82% of the company’s stock.

NVIDIA Corporation Company Profile

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.

Institutional Ownership by Quarter for NVIDIA Corporation (NASDAQ:NVDA)

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