Farmers National Bank Grows Position in NVIDIA Co. (NASDAQ:NVDA)

Farmers National Bank increased its position in NVIDIA Co. (NASDAQ:NVDA) by 886.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,480 shares of the computer hardware maker’s stock after purchasing an additional 19,302 shares during the period. Farmers National Bank’s holdings in NVIDIA were worth $2,654,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NVDA. FPC Investment Advisory Inc. purchased a new stake in NVIDIA during the 1st quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA in the 1st quarter worth approximately $27,000. HBC Financial Services PLLC bought a new position in NVIDIA in the 1st quarter valued at approximately $30,000. TCTC Holdings LLC purchased a new stake in NVIDIA during the 1st quarter valued at $82,000. Finally, Slocum Gordon & Co LLP bought a new stake in shares of NVIDIA in the 1st quarter worth $98,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 price target on shares of NVIDIA in a report on Monday, August 5th. DA Davidson reissued a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Morgan Stanley restated an “overweight” rating and issued a $150.00 target price on shares of NVIDIA in a report on Thursday, October 10th. Finally, The Goldman Sachs Group boosted their target price on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $135.40 on Friday. The firm’s fifty day moving average is $125.25 and its two-hundred day moving average is $116.01. NVIDIA Co. has a 52-week low of $42.89 and a 52-week high of $144.42. The company has a market cap of $3.32 trillion, a P/E ratio of 63.57, a P/E/G ratio of 1.40 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 earnings per share. As a group, analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

NVIDIA declared that its board has initiated a share buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $103.85, for a total value of $12,462,000.00. Following the completion of the transaction, the chief executive officer now owns 76,854,995 shares of the company’s stock, valued at approximately $7,981,391,230.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,516,270 shares of company stock worth $291,803,127. Insiders own 4.23% of the company’s stock.

NVIDIA 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.