NVIDIA Corporation $NVDA is Coastwise Capital Group LLC’s 6th Largest Position

Coastwise Capital Group LLC cut its stake in NVIDIA Corporation (NASDAQ:NVDA) by 14.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,382 shares of the computer hardware maker’s stock after selling 5,418 shares during the period. NVIDIA makes up approximately 3.0% of Coastwise Capital Group LLC’s holdings, making the stock its 6th largest holding. Coastwise Capital Group LLC’s holdings in NVIDIA were worth $3,618,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Copia Wealth Management acquired a new position in NVIDIA during the fourth quarter worth about $50,000. Barnes Dennig Private Wealth Management LLC acquired a new position in NVIDIA during the first quarter worth about $51,000. Bruce G. Allen Investments LLC raised its position in shares of NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after buying an additional 327 shares during the last quarter. LSV Asset Management acquired a new position in shares of NVIDIA in the fourth quarter valued at approximately $54,000. Finally, Delos Wealth Advisors LLC raised its position in shares of NVIDIA by 134.8% in the fourth quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker’s stock valued at $66,000 after buying an additional 283 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In related news, CFO Colette Kress sold 27,640 shares of the company’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $178.06, for a total value of $4,921,578.40. Following the sale, the chief financial officer directly owned 2,956,876 shares of the company’s stock, valued at $526,501,340.56. This represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $181.38, for a total transaction of $13,603,500.00. Following the completion of the sale, the chief executive officer directly owned 72,998,225 shares in the company, valued at $13,240,418,050.50. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,837,440 shares of company stock worth $889,404,782 over the last ninety days. 4.17% of the stock is currently owned by corporate insiders.

NVIDIA Price Performance

Shares of NVDA stock opened at $180.45 on Monday. The company has a market capitalization of $4.40 trillion, a PE ratio of 58.21, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14. The firm has a fifty day simple moving average of $163.96 and a 200-day simple moving average of $135.52. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $184.48.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company’s revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.61 earnings per share. Equities research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. NVIDIA’s dividend payout ratio is currently 1.29%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Oppenheimer boosted their price objective on shares of NVIDIA from $175.00 to $200.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Truist Financial boosted their price objective on shares of NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Piper Sandler set a $225.00 price objective on shares of NVIDIA and gave the company an “overweight” rating in a research report on Wednesday. DA Davidson boosted their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Finally, Summit Insights raised shares of NVIDIA from a “hold” rating to a “buy” rating in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $186.33.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.