Coastline Trust Co Sells 25,732 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Coastline Trust Co reduced its NVIDIA holdings by 5.1%, now owning 477,399 shares worth approximately $51.74 million, making it the largest position in their portfolio.
• NVIDIA reported earnings of $0.81 per share, falling short of the estimated $0.87, despite a revenue increase of 69.2% year-over-year.
• The company's recent quarterly dividend was $0.01 per share, resulting in an annualized yield of just 0.02%.

Coastline Trust Co lessened its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 477,399 shares of the computer hardware maker's stock after selling 25,732 shares during the quarter. NVIDIA accounts for about 6.4% of Coastline Trust Co's holdings, making the stock its biggest holding. Coastline Trust Co's holdings in NVIDIA were worth $51,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of NVDA. Condor Capital Management grew its holdings in shares of NVIDIA by 3.6% during the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock worth $344,000 after purchasing an additional 89 shares during the last quarter. Kelly Financial Services LLC lifted its position in NVIDIA by 2.0% in the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock valued at $513,000 after purchasing an additional 94 shares during the period. Foundry Financial Group Inc. lifted its holdings in NVIDIA by 2.2% in the fourth quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker's stock valued at $589,000 after acquiring an additional 96 shares during the period. Mendel Capital Management LLC increased its holdings in NVIDIA by 0.8% in the first quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock valued at $1,287,000 after buying an additional 96 shares in the last quarter. Finally, Wallace Hart LLC raised its stake in shares of NVIDIA by 3.9% during the 4th quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker's stock worth $349,000 after buying an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Wall Street Analyst Weigh In

NVDA has been the subject of several analyst reports. Citigroup boosted their target price on shares of NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Summit Insights upgraded NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Finally, Raymond James Financial increased their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $182.03.

NVIDIA Stock Performance

Shares of NVDA traded up $3.76 during mid-day trading on Wednesday, reaching $179.27. 170,353,567 shares of the company's stock traded hands, compared to its average volume of 149,383,152. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The business's 50-day moving average price is $153.55 and its 200-day moving average price is $131.72. The stock has a market capitalization of $4.37 trillion, a P/E ratio of 57.83, a price-to-earnings-growth ratio of 1.55 and a beta of 2.13. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $179.89.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion for 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%. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period last year, the business posted $0.61 earnings per share. Equities analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA's dividend payout ratio is presently 1.29%.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director directly owned 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,264,800 shares of company stock worth $786,735,503 over the last ninety days. Insiders own 4.17% of the company's stock.

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.