First Interstate Bank Decreases Position in NVIDIA Co. (NASDAQ:NVDA)

First Interstate Bank cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 4.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,020 shares of the computer hardware maker’s stock after selling 138 shares during the quarter. First Interstate Bank’s holdings in NVIDIA were worth $1,496,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Lodestar Private Asset Management LLC raised its position in NVIDIA by 1.0% in the 4th quarter. Lodestar Private Asset Management LLC now owns 1,652 shares of the computer hardware maker’s stock valued at $818,000 after purchasing an additional 17 shares during the last quarter. Campbell Newman Asset Management Inc. increased its position in NVIDIA by 0.6% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 2,991 shares of the computer hardware maker’s stock valued at $1,481,000 after acquiring an additional 18 shares in the last quarter. Aprio Wealth Management LLC lifted its position in shares of NVIDIA by 1.8% during the fourth quarter. Aprio Wealth Management LLC now owns 1,056 shares of the computer hardware maker’s stock worth $523,000 after purchasing an additional 19 shares in the last quarter. Palumbo Wealth Management LLC increased its holdings in shares of NVIDIA by 0.7% in the fourth quarter. Palumbo Wealth Management LLC now owns 2,816 shares of the computer hardware maker’s stock valued at $1,395,000 after purchasing an additional 19 shares in the last quarter. Finally, Corundum Group Inc. increased its holdings in shares of NVIDIA by 0.8% in the fourth quarter. Corundum Group Inc. now owns 2,380 shares of the computer hardware maker’s stock valued at $1,179,000 after purchasing an additional 19 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 5,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $800.74, for a total value of $4,003,700.00. Following the sale, the director now owns 1,119,583 shares of the company’s stock, valued at approximately $896,494,891.42. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Mark A. Stevens sold 5,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $800.74, for a total value of $4,003,700.00. Following the completion of the transaction, the director now owns 1,119,583 shares of the company’s stock, valued at $896,494,891.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the completion of the sale, the director now owns 1,124,583 shares in the company, valued at approximately $896,933,663.31. The disclosure for this sale can be found here. Insiders sold a total of 61,278 shares of company stock worth $52,689,898 over the last three months. Corporate insiders own 3.99% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. TD Cowen raised their target price on shares of NVIDIA from $900.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Wedbush reiterated an “outperform” rating and issued a $1,000.00 price objective on shares of NVIDIA in a report on Tuesday, March 19th. Evercore ISI started coverage on NVIDIA in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,160.00 target price on the stock. Benchmark reaffirmed a “buy” rating and set a $1,000.00 price objective on shares of NVIDIA in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group boosted their price objective on NVIDIA from $610.00 to $780.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $940.30.

NVIDIA Price Performance

NVIDIA stock opened at $826.32 on Friday. The stock’s fifty day moving average price is $851.37 and its two-hundred day moving average price is $632.39. The firm has a market cap of $2.07 trillion, a PE ratio of 69.21, a price-to-earnings-growth ratio of 1.14 and a beta of 1.73. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67. NVIDIA Co. has a one year low of $266.25 and a one year high of $974.00.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. The business had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. NVIDIA’s revenue for the quarter was up 265.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 earnings per share. As a group, research analysts expect that NVIDIA Co. will post 22.55 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were paid a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is 1.34%.

About NVIDIA

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.