Carnegie Capital Asset Management LLC Trims Position in NVIDIA Co. (NASDAQ:NVDA)

Carnegie Capital Asset Management LLC lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDAGet Rating) by 73.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,374 shares of the computer hardware maker’s stock after selling 90,126 shares during the quarter. NVIDIA makes up about 1.0% of Carnegie Capital Asset Management LLC’s investment portfolio, making the stock its 21st biggest position. Carnegie Capital Asset Management LLC’s holdings in NVIDIA were worth $25,902,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Mechanics Bank Trust Department raised its position in shares of NVIDIA by 30.7% in the 2nd quarter. Mechanics Bank Trust Department now owns 15,350 shares of the computer hardware maker’s stock worth $2,327,000 after buying an additional 3,602 shares during the period. Bouvel Investment Partners LLC purchased a new position in shares of NVIDIA in the 2nd quarter worth $2,418,000. Lee Johnson Capital Management LLC raised its position in shares of NVIDIA by 6.7% in the 2nd quarter. Lee Johnson Capital Management LLC now owns 13,721 shares of the computer hardware maker’s stock worth $2,079,000 after buying an additional 860 shares during the period. Castle Rock Wealth Management LLC raised its position in shares of NVIDIA by 6.3% in the 2nd quarter. Castle Rock Wealth Management LLC now owns 14,773 shares of the computer hardware maker’s stock worth $2,343,000 after buying an additional 869 shares during the period. Finally, Tsfg LLC raised its position in shares of NVIDIA by 42.7% in the 2nd quarter. Tsfg LLC now owns 4,201 shares of the computer hardware maker’s stock worth $637,000 after buying an additional 1,258 shares during the period. Hedge funds and other institutional investors own 62.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Jefferies Financial Group cut their target price on NVIDIA from $370.00 to $280.00 in a research report on Thursday, August 25th. Benchmark cut their price objective on NVIDIA from $228.00 to $215.00 and set a “buy” rating on the stock in a research report on Thursday, August 25th. JPMorgan Chase & Co. cut their price objective on NVIDIA from $230.00 to $220.00 in a research report on Thursday, August 25th. Stifel Nicolaus initiated coverage on NVIDIA in a research report on Wednesday, September 7th. They issued a “hold” rating and a $165.00 price objective on the stock. Finally, Atlantic Securities cut their price objective on NVIDIA to $205.00 in a research report on Thursday, May 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.91.

NVIDIA Stock Performance

Shares of NVDA stock opened at $125.61 on Friday. The business has a 50 day moving average of $162.82 and a two-hundred day moving average of $185.71. The company has a market cap of $312.77 billion, a P/E ratio of 41.18, a PEG ratio of 4.35 and a beta of 1.69. The company has a quick ratio of 3.11, a current ratio of 3.62 and a debt-to-equity ratio of 0.41. NVIDIA Co. has a 52 week low of $124.28 and a 52 week high of $346.47.

NVIDIA (NASDAQ:NVDAGet Rating) last released its quarterly earnings results on Wednesday, August 24th. The computer hardware maker reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). The business had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $6.70 billion. NVIDIA had a net margin of 26.03% and a return on equity of 36.83%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm posted $0.89 EPS. As a group, analysts anticipate that NVIDIA Co. will post 2.49 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 8th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.13%. NVIDIA’s dividend payout ratio (DPR) is presently 5.25%.

NVIDIA Profile

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NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

Further Reading

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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