Coastal Bridge Advisors LLC Buys 17,356 Shares of NVIDIA Co. (NASDAQ:NVDA)

Coastal Bridge Advisors LLC lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,012.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,070 shares of the computer hardware maker’s stock after purchasing an additional 17,356 shares during the quarter. Coastal Bridge Advisors LLC’s holdings in NVIDIA were worth $2,356,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its holdings in NVIDIA by 874.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,022,223 shares of the computer hardware maker’s stock worth $620,453,000 after acquiring an additional 4,507,007 shares during the last quarter. NewEdge Advisors LLC grew its holdings in NVIDIA by 1,179.9% during the 2nd quarter. NewEdge Advisors LLC now owns 3,275,422 shares of the computer hardware maker’s stock worth $372,781,000 after acquiring an additional 3,019,514 shares during the last quarter. Ascension Asset Management LLC grew its holdings in NVIDIA by 842.7% during the 2nd quarter. Ascension Asset Management LLC now owns 173,450 shares of the computer hardware maker’s stock worth $21,428,000 after acquiring an additional 155,050 shares during the last quarter. Northeast Financial Consultants Inc grew its holdings in NVIDIA by 914.1% during the 2nd quarter. Northeast Financial Consultants Inc now owns 174,545 shares of the computer hardware maker’s stock worth $21,563,000 after acquiring an additional 157,334 shares during the last quarter. Finally, Silver Lake Advisory LLC grew its holdings in NVIDIA by 899.8% during the 2nd quarter. Silver Lake Advisory LLC now owns 13,887 shares of the computer hardware maker’s stock worth $1,716,000 after acquiring an additional 12,498 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,516,270 shares of company stock worth $291,803,127 in the last quarter. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Performance

NASDAQ NVDA opened at $132.76 on Friday. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $144.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The firm has a market cap of $3.26 trillion, a price-to-earnings ratio of 62.33, a PEG ratio of 1.50 and a beta of 1.67. The company has a fifty day moving average price of $125.13 and a 200-day moving average price of $115.47.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the prior year, the business posted $0.25 EPS. The business’s revenue was up 122.4% compared to the same quarter last year. As a group, equities research analysts predict that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA announced that its board has initiated a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.88%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Benchmark reissued a “buy” rating and set a $170.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Wells Fargo & Company boosted their target price on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Sanford C. Bernstein boosted their price target on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. boosted their price target on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Evercore ISI boosted their price target on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average price target of $143.07.

About NVIDIA

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.