Security National Bank Reduces Stake in NVIDIA Co. (NASDAQ:NVDA)

Security National Bank trimmed its stake in NVIDIA Co. (NASDAQ:NVDA) by 5.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 502,537 shares of the computer hardware maker’s stock after selling 27,294 shares during the quarter. NVIDIA makes up about 8.3% of Security National Bank’s portfolio, making the stock its 3rd biggest holding. Security National Bank’s holdings in NVIDIA were worth $61,028,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Privium Fund Management UK Ltd acquired a new stake in NVIDIA in the first quarter valued at $2,635,000. Lifestyle Asset Management Inc. raised its holdings in shares of NVIDIA by 246.9% in the 1st quarter. Lifestyle Asset Management Inc. now owns 2,005 shares of the computer hardware maker’s stock valued at $1,812,000 after purchasing an additional 1,427 shares during the period. OMNI 360 Wealth Inc. lifted its stake in NVIDIA by 6.0% in the 1st quarter. OMNI 360 Wealth Inc. now owns 513 shares of the computer hardware maker’s stock valued at $464,000 after purchasing an additional 29 shares during the last quarter. JTC Employer Solutions Trustee Ltd grew its holdings in NVIDIA by 1.0% during the first quarter. JTC Employer Solutions Trustee Ltd now owns 14,897 shares of the computer hardware maker’s stock worth $13,453,000 after purchasing an additional 150 shares during the period. Finally, Trust Co. of Oklahoma increased its position in NVIDIA by 2.7% during the first quarter. Trust Co. of Oklahoma now owns 1,105 shares of the computer hardware maker’s stock worth $998,000 after buying an additional 29 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade 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. In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NVDA. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a report on Tuesday, August 6th. Raymond James upped their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Truist Financial raised their target price 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. Finally, Loop Capital reiterated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Monday, August 26th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

NVIDIA Stock Up 2.2 %

NVDA stock opened at $148.88 on Friday. The company’s 50 day moving average is $126.08 and its 200 day moving average is $117.25. The stock has a market cap of $3.65 trillion, a price-to-earnings ratio of 69.90, a price-to-earnings-growth ratio of 1.43 and a beta of 1.66. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $148.93.

NVIDIA (NASDAQ:NVDA) last released 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 in the previous year, the company posted $0.25 EPS. NVIDIA’s quarterly revenue was up 122.4% compared to the same quarter last year. Sell-side analysts predict that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA declared that its board has initiated a stock repurchase 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 repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

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

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.