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

Carnegie Capital Asset Management LLC cut its holdings in NVIDIA Co. (NASDAQ:NVDAGet Rating) by 73.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,374 shares of the computer hardware maker’s stock after selling 90,126 shares during the quarter. NVIDIA comprises 1.0% of Carnegie Capital Asset Management LLC’s holdings, making the stock its 21st largest position. Carnegie Capital Asset Management LLC’s holdings in NVIDIA were worth $25,902,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rather & Kittrell Inc. purchased a new position in shares of NVIDIA in the fourth quarter worth about $26,000. Emerson Wealth LLC purchased a new position in shares of NVIDIA in the first quarter worth about $27,000. Roble Belko & Company Inc grew its holdings in NVIDIA by 550.0% during the first quarter. Roble Belko & Company Inc now owns 104 shares of the computer hardware maker’s stock worth $28,000 after acquiring an additional 88 shares during the period. Clear Perspectives Financial Planning LLC acquired a new stake in NVIDIA during the first quarter worth about $28,000. Finally, Claremont Financial Group Inc. acquired a new stake in NVIDIA during the fourth quarter worth about $29,000. 62.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NVDA. Morgan Stanley dropped their target price on NVIDIA from $217.00 to $182.00 and set an “equal weight” rating on the stock in a report on Thursday, May 26th. Wedbush reaffirmed a “neutral” rating and set a $160.00 target price on shares of NVIDIA in a report on Wednesday. KeyCorp dropped their target price on NVIDIA from $250.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, July 12th. JPMorgan Chase & Co. dropped their target price on NVIDIA from $230.00 to $220.00 in a report on Thursday, August 25th. Finally, Stifel Nicolaus began coverage on NVIDIA in a report on Wednesday, September 7th. They issued a “hold” rating and a $165.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $214.91.

NVIDIA Trading Down 5.3 %

Shares of NASDAQ NVDA opened at $125.61 on Friday. NVIDIA Co. has a twelve month low of $124.28 and a twelve month high of $346.47. The company has a current ratio of 3.62, a quick ratio of 3.11 and a debt-to-equity ratio of 0.41. The stock has a fifty day simple moving average of $162.82 and a 200-day simple moving average of $185.71. The stock has a market capitalization of $312.77 billion, a PE ratio of 41.18, a PEG ratio of 4.35 and a beta of 1.69.

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

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 8th will be paid a dividend of $0.04 per share. The ex-dividend date is Wednesday, September 7th. This represents a $0.16 annualized dividend and a yield of 0.13%. NVIDIA’s payout ratio is 5.25%.

About NVIDIA

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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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