Park National Corp OH Decreases Position in NVIDIA Co. (NASDAQ:NVDA)

Park National Corp OH decreased its stake in NVIDIA Co. (NASDAQ:NVDA) by 13.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 873,092 shares of the computer hardware maker’s stock after selling 134,780 shares during the quarter. NVIDIA accounts for about 3.7% of Park National Corp OH’s portfolio, making the stock its 4th largest position. Park National Corp OH’s holdings in NVIDIA were worth $106,028,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Lowe Wealth Advisors LLC bought a new stake in NVIDIA during the 2nd quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. grew its stake in shares of NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares in the last quarter. FPC Investment Advisory Inc. bought a new position in shares of NVIDIA during the 1st quarter worth approximately $26,000. CGC Financial Services LLC bought a new position in shares of NVIDIA during the 2nd quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA during the 1st quarter worth approximately $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 76,854,995 shares in the company, valued at approximately $7,981,391,230.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction 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 in the company, valued at $7,981,391,230.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,396,270 shares of company stock worth $279,825,927. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 2.0 %

NVDA opened at $135.40 on Monday. NVIDIA Co. has a fifty-two week low of $42.89 and a fifty-two week high of $144.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The company has a market capitalization 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 stock has a fifty day moving average of $125.25 and a 200-day moving average of $116.24.

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

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

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given 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 of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is currently 1.88%.

Analyst Upgrades and Downgrades

NVDA has been the subject of several research reports. Needham & Company LLC raised their price target on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Truist Financial raised their price target on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. UBS Group reaffirmed a “buy” rating and set a $150.00 price target on shares of NVIDIA in a research note on Tuesday, October 8th. Bank of America increased their price objective on NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, KeyCorp increased their price objective on NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $143.07.

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.