NVIDIA Co. (NASDAQ:NVDA) is Citizens Business Bank’s 3rd Largest Position

Citizens Business Bank cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 168,021 shares of the computer hardware maker’s stock after selling 2,247 shares during the quarter. NVIDIA comprises about 4.3% of Citizens Business Bank’s investment portfolio, making the stock its 3rd biggest position. Citizens Business Bank’s holdings in NVIDIA were worth $22,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in NVDA. Tacita Capital Inc acquired a new stake in shares of NVIDIA in the 4th quarter valued at about $28,000. Legend Financial Advisors Inc. acquired a new position in NVIDIA during the 4th quarter valued at about $34,000. Vision Financial Markets LLC acquired a new stake in NVIDIA in the fourth quarter worth approximately $38,000. Luken Investment Analytics LLC acquired a new stake in shares of NVIDIA in the fourth quarter valued at $40,000. Finally, Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA in the 4th quarter worth approximately $46,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NVDA has been the subject of several analyst reports. KeyCorp set a $190.00 target price on NVIDIA in a report on Wednesday, March 19th. Seaport Res Ptn raised NVIDIA to a “strong sell” rating in a research report on Wednesday, April 30th. William Blair reaffirmed an “outperform” rating on shares of NVIDIA in a research note on Thursday, March 20th. Mizuho decreased their target price on NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Finally, Wedbush lowered NVIDIA from an “outperform” rating to a “cautious” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-three have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $167.53.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. The trade was a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert K. Burgess sold 53,324 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the transaction, the director now directly owns 251,044 shares of the company’s stock, valued at $28,993,071.56. This trade represents a 17.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock worth $17,133,207 over the last ninety days. Company insiders own 4.17% of the company’s stock.

NVIDIA Stock Performance

NASDAQ NVDA opened at $131.29 on Monday. The firm has a market cap of $3.21 trillion, a price-to-earnings ratio of 51.67, a PEG ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a 1-year low of $86.62 and a 1-year high of $195.95. The company has a 50 day moving average of $113.89 and a 200-day moving average of $126.65. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. On average, equities analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is presently 1.36%.

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.