Coastal Investment Advisors Inc. Boosts Holdings in NVIDIA Co. (NASDAQ:NVDA)


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Coastal Investment Advisors Inc. grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 115.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,018 shares of the computer hardware maker’s stock after buying an additional 4,288 shares during the quarter. NVIDIA accounts for 1.2% of Coastal Investment Advisors Inc.’s investment portfolio, making the stock its 15th biggest position. Coastal Investment Advisors Inc.’s holdings in NVIDIA were worth $4,187,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of NVDA. Sheets Smith Wealth Management raised its position in NVIDIA by 37.0% in the 4th quarter. Sheets Smith Wealth Management now owns 1,773 shares of the computer hardware maker’s stock worth $926,000 after purchasing an additional 479 shares during the period. Pinnacle Financial Partners Inc. raised its position in NVIDIA by 14.7% in the 4th quarter. Pinnacle Financial Partners Inc. now owns 6,800 shares of the computer hardware maker’s stock worth $3,557,000 after purchasing an additional 874 shares during the period. McGuire Investment Group LLC raised its position in NVIDIA by 2.7% in the 4th quarter. McGuire Investment Group LLC now owns 2,693 shares of the computer hardware maker’s stock worth $1,406,000 after purchasing an additional 70 shares during the period. Global Retirement Partners LLC raised its position in NVIDIA by 10.5% in the 4th quarter. Global Retirement Partners LLC now owns 3,011 shares of the computer hardware maker’s stock worth $1,572,000 after purchasing an additional 286 shares during the period. Finally, KMG Fiduciary Partners LLC raised its position in NVIDIA by 4.8% in the 4th quarter. KMG Fiduciary Partners LLC now owns 3,578 shares of the computer hardware maker’s stock worth $1,919,000 after purchasing an additional 164 shares during the period. Hedge funds and other institutional investors own 61.27% of the company’s stock.

A number of equities research analysts have issued reports on the stock. Oppenheimer reissued a “buy” rating and issued a $600.00 price target on shares of NVIDIA in a report on Tuesday. Barclays raised their price target on shares of NVIDIA from $525.00 to $550.00 and gave the stock an “overweight” rating in a report on Thursday, November 19th. Craig Hallum raised their price target on shares of NVIDIA from $500.00 to $520.00 and gave the stock a “hold” rating in a report on Thursday, November 19th. BidaskClub lowered shares of NVIDIA from a “buy” rating to a “hold” rating in a report on Monday, December 28th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price target on shares of NVIDIA from $540.00 to $600.00 in a report on Thursday, November 19th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have issued a buy rating to the company’s stock. NVIDIA currently has a consensus rating of “Buy” and an average price target of $545.84.

In related news, Director Tench Coxe sold 356 shares of the company’s stock in a transaction that occurred on Thursday, January 7th. The stock was sold at an average price of $528.73, for a total value of $188,227.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Debora Shoquist sold 16,686 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $556.54, for a total value of $9,286,426.44. Following the completion of the transaction, the executive vice president now directly owns 132,854 shares of the company’s stock, valued at $73,938,565.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,850 shares of company stock worth $31,276,935. Insiders own 4.47% of the company’s stock.

NVIDIA stock traded up $1.88 during trading hours on Wednesday, hitting $541.27. The stock had a trading volume of 5,237,619 shares, compared to its average volume of 10,118,228. The company has a quick ratio of 3.52, a current ratio of 3.92 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $335.05 billion, a P/E ratio of 88.94, a price-to-earnings-growth ratio of 3.76 and a beta of 1.47. NVIDIA Co. has a 12-month low of $180.68 and a 12-month high of $589.07. The stock’s 50-day moving average price is $528.75 and its 200-day moving average price is $497.78.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Tuesday, November 17th. The computer hardware maker reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.34. NVIDIA had a net margin of 25.89% and a return on equity of 32.61%. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.42 billion. On average, research analysts expect that NVIDIA Co. will post 7.57 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 29th. Shareholders of record on Friday, December 4th were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, December 3rd. This represents a $0.64 annualized dividend and a yield of 0.12%. NVIDIA’s dividend payout ratio (DPR) is presently 13.94%.

NVIDIA Profile

NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based gaming; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for artificial intelligence (AI) utilizing deep learning, accelerated computing, and general purpose computing; GRID, which provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and EGX for accelerated AI computing at the edge.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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