NVIDIA Co. (NASDAQ:NVDA) Stock Position Raised by First County Bank CT

First County Bank CT increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 25.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,813 shares of the computer hardware maker’s stock after buying an additional 9,627 shares during the period. NVIDIA comprises about 2.9% of First County Bank CT’s holdings, making the stock its 5th largest position. First County Bank CT’s holdings in NVIDIA were worth $5,182,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tacita Capital Inc purchased a new position in NVIDIA in the 4th quarter valued at about $28,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA in the fourth quarter worth approximately $38,000. Luken Investment Analytics LLC purchased a new position in NVIDIA in the fourth quarter valued at approximately $40,000. Copia Wealth Management purchased a new position in NVIDIA in the fourth quarter valued at approximately $50,000. Finally, LSV Asset Management purchased a new position in NVIDIA in the fourth quarter valued at approximately $54,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Price Performance

NVDA opened at $142.63 on Tuesday. The stock’s 50 day simple moving average is $119.10 and its 200 day simple moving average is $126.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 1 year low of $86.62 and a 1 year high of $195.95. The firm has a market cap of $3.48 trillion, a price-to-earnings ratio of 56.13, a PEG ratio of 1.76 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the previous year, the business earned $0.61 earnings per share. NVIDIA’s revenue was up 69.2% compared to the same quarter last year. As a group, analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA’s payout ratio is presently 1.29%.

Insider Activity

In related news, Director Mark A. Stevens sold 935,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the transaction, the director now owns 9,214,697 shares of the company’s stock, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert K. Burgess sold 50,000 shares of NVIDIA stock in a transaction on Friday, May 30th. The stock was sold at an average price of $134.82, for a total value of $6,741,000.00. Following the completion of the sale, the director now directly owns 201,044 shares of the company’s stock, valued at approximately $27,104,752.08. The trade was a 19.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,255,320 shares of company stock worth $172,680,419 in the last quarter. 4.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of analyst reports. Wedbush reiterated an “outperform” rating on shares of NVIDIA in a research note on Thursday, May 29th. DZ Bank raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. KeyCorp set a $190.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. HSBC downgraded shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a report on Thursday, April 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a research note on Wednesday, April 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $171.66.

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.