Coatue Management LLC trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA) by 30.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 625,897 shares of the computer hardware maker’s stock after selling 271,357 shares during the quarter. NVIDIA accounts for about 2.1% of Coatue Management LLC’s holdings, making the stock its 21st biggest holding. Coatue Management LLC owned approximately 0.10% of NVIDIA worth $237,785,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in NVDA. Hoover Financial Advisors Inc. bought a new stake in shares of NVIDIA in the 2nd quarter worth approximately $32,000. Horan Securities Inc. bought a new stake in NVIDIA during the 1st quarter valued at $33,000. Ellevest Inc. raised its holdings in NVIDIA by 256.7% during the 2nd quarter. Ellevest Inc. now owns 107 shares of the computer hardware maker’s stock valued at $41,000 after buying an additional 77 shares during the last quarter. Blue Bell Private Wealth Management LLC bought a new stake in NVIDIA during the 2nd quarter valued at $50,000. Finally, Campbell Wealth Management bought a new stake in NVIDIA during the 2nd quarter valued at $55,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.
Shares of NASDAQ:NVDA traded down $15.72 during trading on Friday, hitting $504.90. The company’s stock had a trading volume of 36,553,160 shares, compared to its average volume of 13,483,514. The company has a 50-day moving average of $459.65 and a 200-day moving average of $347.05. NVIDIA Co. has a 12 month low of $169.32 and a 12 month high of $589.07. The company has a debt-to-equity ratio of 0.50, a current ratio of 6.09 and a quick ratio of 5.51. The firm has a market cap of $311.52 billion, a price-to-earnings ratio of 92.81, a P/E/G ratio of 4.09 and a beta of 1.53.
NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 19th. The computer hardware maker reported $2.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.21. NVIDIA had a net margin of 25.93% and a return on equity of 30.41%. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the prior year, the business earned $1.24 EPS. The business’s quarterly revenue was up 50.1% on a year-over-year basis. As a group, research analysts anticipate that NVIDIA Co. will post 6.84 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Wednesday, September 2nd will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend is Tuesday, September 1st. NVIDIA’s payout ratio is 13.94%.
In other NVIDIA news, EVP Ajay K. Puri sold 6,452 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $416.36, for a total transaction of $2,686,354.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 49,999 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $550.51, for a total transaction of $27,524,949.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 361,722 shares of company stock worth $157,249,535. 4.47% of the stock is owned by company insiders.
NVDA has been the subject of a number of recent analyst reports. Cascend Securities upped their price target on shares of NVIDIA from $450.00 to $540.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. UBS Group upped their price objective on shares of NVIDIA from $330.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. JPMorgan Chase & Co. upped their price objective on shares of NVIDIA from $405.00 to $510.00 and gave the stock an “overweight” rating in a report on Thursday, August 20th. Zacks Investment Research upgraded shares of NVIDIA from a “sell” rating to a “hold” rating and set a $547.00 price objective for the company in a report on Friday. Finally, Morgan Stanley upped their price objective on shares of NVIDIA from $380.00 to $507.00 and gave the stock an “equal weight” rating in a report on Thursday, August 20th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $495.97.
NVIDIA Company Profile
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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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