Suncoast Equity Management Sells 5,686 Shares of NVIDIA Co. (NASDAQ:NVDA)

Suncoast Equity Management trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.0% in the fourth quarter, HoldingsChannel reports. The firm owned 547,151 shares of the computer hardware maker’s stock after selling 5,686 shares during the period. NVIDIA makes up 8.2% of Suncoast Equity Management’s portfolio, making the stock its 2nd biggest position. Suncoast Equity Management’s holdings in NVIDIA were worth $73,477,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. International Assets Investment Management LLC increased its stake in shares of NVIDIA by 12,898.6% in the third quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock valued at $6,836,220,000 after buying an additional 55,859,917 shares in the last quarter. Clear Street Derivatives LLC bought a new position in shares of NVIDIA in the third quarter worth about $4,589,905,000. Geode Capital Management LLC raised its stake in shares of NVIDIA by 2.2% in the third quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock worth $66,101,133,000 after acquiring an additional 11,525,969 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of NVIDIA by 3.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock worth $21,908,236,000 after purchasing an additional 6,526,200 shares in the last quarter. Finally, National Pension Service grew its stake in shares of NVIDIA by 14.9% during the third quarter. National Pension Service now owns 47,220,708 shares of the computer hardware maker’s stock valued at $5,734,483,000 after purchasing an additional 6,118,674 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In other news, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the sale, the insider now owns 479,428 shares of the company’s stock, valued at $55,997,190.40. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 183,609 shares of company stock worth $22,642,615. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $220.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Barclays upped their target price on shares of NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Mizuho lowered their price target on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Finally, Susquehanna restated a “positive” rating and issued a $180.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $171.51.

NVIDIA Price Performance

Shares of NVDA opened at $113.76 on Thursday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a twelve month low of $75.61 and a twelve month high of $153.13. The stock has a market capitalization of $2.78 trillion, a P/E ratio of 44.77, a P/E/G ratio of 1.76 and a beta of 1.77. The company has a 50 day moving average of $126.01 and a 200-day moving average of $131.46.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. As a group, equities research analysts forecast that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 1.36%.

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.