NVIDIA Co. (NASDAQ:NVDA) Position Cut by City State Bank

City State Bank reduced its holdings in NVIDIA Co. (NASDAQ:NVDA) by 5.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,293 shares of the computer hardware maker’s stock after selling 1,984 shares during the quarter. NVIDIA accounts for 1.6% of City State Bank’s portfolio, making the stock its 17th largest position. City State Bank’s holdings in NVIDIA were worth $4,286,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Annex Advisory Services LLC raised its position in shares of NVIDIA by 16.8% during the 3rd quarter. Annex Advisory Services LLC now owns 394,545 shares of the computer hardware maker’s stock worth $47,914,000 after buying an additional 56,840 shares in the last quarter. Westend Capital Management LLC increased its stake in shares of NVIDIA by 1.0% during the third quarter. Westend Capital Management LLC now owns 339,447 shares of the computer hardware maker’s stock valued at $41,222,000 after acquiring an additional 3,265 shares during the period. Kings Path Partners LLC acquired a new stake in NVIDIA in the third quarter worth approximately $243,000. Matrix Asset Advisors Inc. NY boosted its stake in NVIDIA by 1.2% during the 3rd quarter. Matrix Asset Advisors Inc. NY now owns 8,807 shares of the computer hardware maker’s stock valued at $1,070,000 after purchasing an additional 107 shares in the last quarter. Finally, Mechanics Bank Trust Department increased its position in shares of NVIDIA by 4.7% during the 3rd quarter. Mechanics Bank Trust Department now owns 89,507 shares of the computer hardware maker’s stock valued at $10,870,000 after purchasing an additional 4,055 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on NVDA. UBS Group raised their target price on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday. Westpark Capital lifted their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Sanford C. Bernstein boosted their target price on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Evercore ISI raised their target price on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Finally, Needham & Company LLC upped their price target on NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.40.

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the sale, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. This trade represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock worth $254,784,327 over the last three months. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $146.76 on Friday. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $149.77. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The company has a market cap of $3.60 trillion, a P/E ratio of 68.84, a P/E/G ratio of 1.56 and a beta of 1.66. The business’s 50 day moving average is $129.39 and its two-hundred day moving average is $119.51.

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

NVIDIA Cuts Dividend

The company also recently announced 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. 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 announced that its Board of Directors has authorized a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

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.