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Baidu Is Partnering With Nvidia To 'Accelerate' Artificial Intelligence

Baidu Is Partnering With Nvidia To 'Accelerate' Artificial Intelligence

HUANG JEN HSUN also sold $4.28M worth of NVIDIA Corporation (NASDAQ:NVDA) shares.

NVIDIA Corporation (NASDAQ:NVDA), stock is trading $168.50 above the 52-week high and has displayed a high EPS growth of 22.20% in last 5 years. Edgewood Management LLC now owns 5,987,970 shares of the computer hardware maker's stock valued at $652,270,000 after buying an additional 1,074,303 shares during the period. NVIDIA Corporation now has an average rating of "Hold" and an average price target of $123.99. Over the past twelve months, NVIDIA Corporation (NASDAQ:NVDA)'s stock was 30.53%.

In other NVIDIA Corporation news, Director Harvey C. Jones sold 145,520 shares of NVIDIA Corporation stock in a transaction on Thursday, June 22nd. The Japan-based Tokio Marine Asset Mgmt Commerce Limited has invested 1.01% in NVIDIA Corporation (NASDAQ:NVDA). The stock has a market cap of $82.90 billion, a P/E ratio of 46.77 and a beta of 1.23. The stock has a 50-day moving average price of $145.38 and a 200-day moving average price of $115.28.

What's Real Worth Of The Southern Company (SO), Amazon.com, Inc
Gerber Kawasaki Wealth & Investment Management increased its stake in Amazon.com by 41.9% in the fourth quarter. (NASDAQ:AMZN). The e-commerce giant reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.45.

NVIDIA Corporation (NASDAQ:NVDA) previously disclosed its earnings report on early Tue, May 9th. NVIDIA Corporation had a ROE of 36.40% and a net profit margin of 25.95%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.91 billion. They expect $0.82 earnings per share, up 241.67% or $0.58 from last year's $0.24 per share. The business's revenue for the quarter was up 48.7% compared to the same quarter past year. On average, equities analysts forecast that NVIDIA Corporation will post $3.09 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This story was reported by Community Financial News and is the property of of Community Financial News. The original version of this piece can be accessed at https://www.thestockobserver.com/2017/07/05/nvidia-corporation-nasdaqnvda-stake-decreased-by-capital-growth-management-lp.html. Stockholders of record on Tuesday, May 23rd were issued a $0.14 dividend. The ex-dividend date of this dividend was Friday, May 19th. NVIDIA Corporation's dividend payout ratio (DPR) is 18.60%. The stock was sold at an average price of $159.31, for a total transaction of $23,182,791.20.

At Baidu's own AI developer conference in Beijing, the company's COO Qi Lu announced that his company would be adopting NVIDIA's upcoming Volta GPUs for use in Baidu Cloud, adopt NVIDIA's DRIVE PX platform for the company's autonomous efforts, introduce AI to Chinese consumers by way of a conversational system added to NVIDIA's SHIELD, and last but not least, the intent to optimize its PaddlePaddle open source deep learning framework for Volta. The investment company owned 136,422 stocks of the computer hardware maker's shares after purchasing an extra 43,979 shares through out the quarter. The shares were sold at an average price of $140.00, for a total transaction of $434,980.00. Guardian Life Insurance Co. of America now owns 2,275 shares of the computer hardware maker's stock valued at $248,000 after buying an additional 210 shares during the period. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 522,282 shares of company stock valued at $78,275,082. Finally, Whittier Trust Co. boosted its position in NVIDIA Corporation by 2.1% in the first quarter. Pegasus Partners Ltd. now owns 16,305 shares of the computer hardware maker's stock valued at $1,740,000 after buying an additional 375 shares during the last quarter. Arete Wealth Advisors LLC boosted its position in NVIDIA Corporation by 0.3% in the first quarter. Nelson Van Denburg And Campbell Wealth Management Group Ltd Liability Co stated it has 250 shares. It also reduced Liberty Global Plc (NASDAQ:LBTYK) stake by 1.54M shares and now owns 6.16 million shares. Savant Capital LLC boosted its position in shares of NVIDIA Corporation by 2.7% in the first quarter. Finally, Rational Advisors LLC boosted its position in shares of NVIDIA Corporation by 2.0% in the first quarter. Sowell Financial Services LLC now owns 4,724 shares of the computer hardware maker's stock valued at $655,000 after buying an additional 4,106 shares during the last quarter. Stock institutional ownership is 70.70% while insider ownership includes 0.60%.

Glu Mobile (GLUU) Given News Sentiment Rating of 0.05
In other news, insider Masi Niccolo De sold 339,648 shares of the stock in a transaction dated Thursday, June 8th. Bank of Montreal Can bought a new position in shares of Glu Mobile during the first quarter worth about $171,000.

Chinese internet search and cloud company Baidu rallied in premarket trade on Wednesday after it detailed a partnership with Santa Clara-based chipmaker NVIDIA to expand investments in artificial intelligence across its cloud and self-driving vehicle initiatives.

Though NVIDIA still makes most of its money from selling graphics chips for video games, it has emerged as the leading provider of processing power for AI software, according to MIT Technology Review, which recently named the company the smartest company, ahead of Amazon and Alphabet, which ranked #3 and #5 out of 50, respectively.

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