Perkins Coie Trust Co Raises Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Perkins Coie Trust Co lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 3,362.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,508 shares of the computer hardware maker’s stock after purchasing an additional 30,598 shares during the period. Perkins Coie Trust Co’s holdings in NVIDIA were worth $3,826,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. First PREMIER Bank raised its position in NVIDIA by 7.5% in the 3rd quarter. First PREMIER Bank now owns 18,490 shares of the computer hardware maker’s stock valued at $2,245,000 after purchasing an additional 1,290 shares in the last quarter. Howard Financial Services LTD. raised its holdings in NVIDIA by 1.8% in the third quarter. Howard Financial Services LTD. now owns 68,825 shares of the computer hardware maker’s stock valued at $8,358,000 after acquiring an additional 1,207 shares in the last quarter. True North Advisors LLC lifted its stake in NVIDIA by 5.8% in the third quarter. True North Advisors LLC now owns 22,386 shares of the computer hardware maker’s stock worth $2,719,000 after acquiring an additional 1,228 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its holdings in NVIDIA by 7.1% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 35,766 shares of the computer hardware maker’s stock worth $4,344,000 after acquiring an additional 2,357 shares in the last quarter. Finally, Future Financial Wealth Managment LLC increased its position in shares of NVIDIA by 4.6% in the 3rd quarter. Future Financial Wealth Managment LLC now owns 4,290 shares of the computer hardware maker’s stock valued at $521,000 after purchasing an additional 189 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the business’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 completion of the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 125,000 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the sale, the director now directly owns 8,255,117 shares in the company, valued at $1,012,159,895.37. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is owned by corporate insiders.

NVIDIA Stock Performance

NASDAQ NVDA opened at $147.63 on Monday. The business has a 50 day moving average price of $127.27 and a 200 day moving average price of $118.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company has a market capitalization of $3.62 trillion, a P/E ratio of 69.31, a PEG ratio of 1.56 and a beta of 1.66. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $149.77.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period in the previous year, the firm earned $0.25 EPS. The business’s revenue for the quarter was up 122.4% compared to the same quarter last year. Sell-side analysts expect that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA announced that its board has approved a stock repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in 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 generally a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors 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 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.88%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. DA Davidson reiterated a “neutral” rating and set a $90.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. TD Cowen raised NVIDIA to a “strong-buy” rating in a research report on Monday, September 16th. Piper Sandler reiterated an “overweight” rating and issued a $140.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Loop Capital restated a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research note on Monday, August 26th. Finally, Needham & Company LLC increased their price target on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Five 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.