Summit Securities Group adds NVIDIA Corporation (NVDA) to its portfolio

NVIDIA Corporation (NVDA) : Summit Securities Group added new position in NVIDIA Corporation during the most recent quarter end. The investment management firm now holds 38,377 shares of NVIDIA Corporation which is valued at $2,419,286 , the company said in a statement filed on Aug 12, 2016 with the SEC.NVIDIA Corporation makes up approximately 1.27% of Summit Securities Group’s portfolio.

Other Hedge Funds, Including , Meiji Yasuda Asset Management Co Ltd. reduced its stake in NVDA by selling 5,670 shares or 40.74% in the most recent quarter. The Hedge Fund company now holds 8,248 shares of NVDA which is valued at $519,954. NVIDIA Corporation makes up approx 0.07% of Meiji Yasuda Asset Management Co Ltd.’s portfolio.Pinebridge Investments boosted its stake in NVDA in the latest quarter, The investment management firm added 2,211 additional shares and now holds a total of 150,232 shares of NVIDIA Corporation which is valued at $9,470,625. NVIDIA Corporation makes up approx 0.48% of Pinebridge Investments’s portfolio. Meag Munich Ergo Kapitalanlagegesellschaft Mbh sold out all of its stake in NVDA during the most recent quarter. The investment firm sold 395,806 shares of NVDA which is valued $22,600,523. First Midwest Bank Trust Division added NVDA to its portfolio by purchasing 38,490 company shares during the most recent quarter which is valued at $2,157,749. NVIDIA Corporation makes up approx 0.26% of First Midwest Bank Trust Division’s portfolio.Shell Asset Management Co boosted its stake in NVDA in the latest quarter, The investment management firm added 2,439 additional shares and now holds a total of 95,323 shares of NVIDIA Corporation which is valued at $5,343,807. NVIDIA Corporation makes up approx 0.12% of Shell Asset Management Co’s portfolio.

NVIDIA Corporation closed down -0.04 points or -0.06% at $61.99 with 68,66,279 shares getting traded on Monday. Post opening the session at $62.28, the shares hit an intraday low of $61.885 and an intraday high of $62.53 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, NVIDIA Corporation reported $0.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 11, 2016. Analyst had a consensus of $0.48. The company had revenue of $1428.00 million for the quarter, compared to analysts expectations of $1352.71 million. The company’s revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.

Many Wall Street Analysts have commented on NVIDIA Corporation. Company shares were Upgraded by RBC Capital Mkts on Aug 12, 2016 to ” Outperform”, Firm has raised the Price Target to $ 72 from a previous price target of $47 .Company shares were Reiterated by Barclays on Aug 12, 2016 to “Underweight”, Firm has raised the Price Target to $ 54 from a previous price target of $40 .Company shares were Reiterated by Mizuho on Aug 12, 2016 to “Buy”, Firm has raised the Price Target to $ 66 from a previous price target of $60 .

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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