Cooper Capital Advisors LLC Cuts Position in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Cooper Capital Advisors LLC reduced its holdings in NVIDIA Corporation by 11.5%, now owning 16,701 shares valued at approximately $1.81 million.
• Analysts have set varied new price targets for NVIDIA, with Bank of America raising their target to $220.00, reflecting strong market confidence in the company's performance.
• Insider trading activity has been significant, with Director Tench Coxe selling 1 million shares for around $142.8 million in June.

Cooper Capital Advisors LLC decreased its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 11.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,701 shares of the computer hardware maker's stock after selling 2,178 shares during the quarter. NVIDIA accounts for approximately 1.9% of Cooper Capital Advisors LLC's holdings, making the stock its 12th largest position. Cooper Capital Advisors LLC's holdings in NVIDIA were worth $1,810,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Tacita Capital Inc acquired a new stake in shares of NVIDIA during the fourth quarter worth $28,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA during the fourth quarter valued at $38,000. Copia Wealth Management purchased a new position in shares of NVIDIA during the fourth quarter valued at $50,000. Barnes Dennig Private Wealth Management LLC purchased a new position in NVIDIA in the first quarter valued at about $51,000. Finally, Bruce G. Allen Investments LLC increased its position in NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after purchasing an additional 327 shares during the last quarter. Institutional investors own 65.27% of the company's stock.

Insider Activity

In related news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $178.16, for a total transaction of $13,362,000.00. Following the sale, the chief executive officer directly owned 73,523,225 shares of the company's stock, valued at $13,098,897,766. This represents a 0.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Colette Kress sold 27,650 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the completion of the transaction, the chief financial officer owned 2,984,516 shares of the company's stock, valued at approximately $510,023,939.24. The trade was a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,489,800 shares of company stock worth $826,553,003 in the last three months. Corporate insiders own 4.17% of the company's stock.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA traded up $1.16 during midday trading on Wednesday, reaching $179.42. The company's stock had a trading volume of 135,021,387 shares, compared to its average volume of 246,741,875. The firm has a market capitalization of $4.38 trillion, a PE ratio of 57.88, a P/E/G ratio of 1.59 and a beta of 2.14. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $183.30. The stock has a fifty day moving average of $157.13 and a 200 day moving average of $132.90. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its 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 firm's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.61 EPS. On average, equities analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on NVDA shares. The Goldman Sachs Group assumed coverage on NVIDIA in a research report on Thursday, July 10th. They issued a "buy" rating and a $185.00 target price on the stock. Truist Financial upped their price objective on NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. Mizuho set a $192.00 price target on NVIDIA and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of "Moderate Buy" and an average target price of $182.03.

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.