Coastline Trust Co Cuts Holdings in NVIDIA Co. (NASDAQ:NVDA)
Coastline Trust Co cut its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,578 shares of the computer hardware maker’s stock after selling 1,690 shares during the quarter. Coastline Trust Co’s holdings in NVIDIA were worth $2,711,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. boosted its holdings in NVIDIA by 8.8% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 15,751 shares of the computer hardware maker’s stock worth $2,742,000 after purchasing an additional 1,269 shares during the last quarter. Covenant Asset Management LLC boosted its holdings in NVIDIA by 27.7% during the third quarter. Covenant Asset Management LLC now owns 2,298 shares of the computer hardware maker’s stock worth $400,000 after purchasing an additional 498 shares during the last quarter. Garrett Wealth Advisory Group LLC purchased a new position in NVIDIA during the third quarter worth about $68,000. Brookstone Capital Management boosted its holdings in NVIDIA by 9.2% during the third quarter. Brookstone Capital Management now owns 2,081 shares of the computer hardware maker’s stock worth $362,000 after purchasing an additional 175 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in NVIDIA by 8.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 143,664 shares of the computer hardware maker’s stock worth $25,008,000 after purchasing an additional 11,032 shares during the last quarter. Institutional investors and hedge funds own 64.40% of the company’s stock.
NASDAQ NVDA opened at $190.49 on Friday. The company’s 50 day moving average is $178.59 and its 200-day moving average is $168.32. NVIDIA Co. has a 12-month low of $124.46 and a 12-month high of $242.55. The company has a quick ratio of 7.74, a current ratio of 8.65 and a debt-to-equity ratio of 0.24. The firm has a market cap of $118.32 billion, a P/E ratio of 50.73, a price-to-earnings-growth ratio of 5.00 and a beta of 2.05.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Thursday, August 29th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Wednesday, August 28th. NVIDIA’s dividend payout ratio (DPR) is currently 10.54%.
Several research analysts recently weighed in on the stock. Zacks Investment Research cut shares of NVIDIA from a “buy” rating to a “hold” rating and set a $206.00 price target on the stock. in a report on Wednesday. SunTrust Banks boosted their target price on shares of NVIDIA from $210.00 to $216.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Oppenheimer set a $190.00 target price on shares of NVIDIA and gave the company a “buy” rating in a research note on Friday, August 16th. Benchmark reiterated a “buy” rating and issued a $210.00 target price on shares of NVIDIA in a research note on Wednesday, August 21st. Finally, JPMorgan Chase & Co. set a $200.00 target price on shares of NVIDIA and gave the company a “buy” rating in a research note on Friday, August 16th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $186.67.
In related news, CFO Colette Kress sold 31,357 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $179.01, for a total transaction of $5,613,216.57. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Persis Drell sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $167.36, for a total transaction of $418,400.00. Following the sale, the director now directly owns 18,184 shares in the company, valued at approximately $3,043,274.24. The disclosure for this sale can be found here. In the last three months, insiders sold 66,383 shares of company stock worth $11,625,217. Insiders own 4.64% of the company’s stock.
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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