Moody National Bank Trust Division Buys 34,638 Shares of NVIDIA Co. (NASDAQ:NVDA)

Moody National Bank Trust Division lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 12.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 310,539 shares of the computer hardware maker’s stock after acquiring an additional 34,638 shares during the period. NVIDIA accounts for about 4.0% of Moody National Bank Trust Division’s investment portfolio, making the stock its largest position. Moody National Bank Trust Division’s holdings in NVIDIA were worth $37,712,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Duncan Williams Asset Management LLC increased its holdings in NVIDIA by 30.2% in the 3rd quarter. Duncan Williams Asset Management LLC now owns 11,418 shares of the computer hardware maker’s stock valued at $1,387,000 after buying an additional 2,646 shares during the period. Abacus Wealth Partners LLC boosted its stake in NVIDIA by 6.5% in the third quarter. Abacus Wealth Partners LLC now owns 47,663 shares of the computer hardware maker’s stock valued at $5,788,000 after acquiring an additional 2,928 shares during the last quarter. Granite Bay Wealth Management LLC grew its holdings in NVIDIA by 39.5% during the third quarter. Granite Bay Wealth Management LLC now owns 11,109 shares of the computer hardware maker’s stock valued at $1,349,000 after purchasing an additional 3,146 shares during the period. Monterey Private Wealth Inc. increased its stake in NVIDIA by 3.5% during the 3rd quarter. Monterey Private Wealth Inc. now owns 19,038 shares of the computer hardware maker’s stock worth $2,312,000 after purchasing an additional 648 shares in the last quarter. Finally, Apella Capital LLC increased its holdings in NVIDIA by 6.3% during the 3rd quarter. Apella Capital LLC now owns 31,648 shares of the computer hardware maker’s stock worth $3,761,000 after purchasing an additional 1,882 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,396,270 shares of company stock valued at $279,825,927 over the last 90 days. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 0.5 %

NASDAQ NVDA opened at $136.05 on Tuesday. The business’s 50-day moving average is $125.45 and its 200 day moving average is $116.60. The stock has a market capitalization of $3.34 trillion, a PE ratio of 63.87, a PEG ratio of 1.40 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA Co. has a 1 year low of $44.90 and a 1 year high of $144.42.

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

NVIDIA declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.88%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Tuesday, August 6th. Loop Capital restated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Monday, August 26th. Raymond James lifted their target price on NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. HSBC raised their price target on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Westpark Capital boosted their price target on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $143.07.

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.