Mechanics Bank Trust Department Has $9.67 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Mechanics Bank Trust Department decreased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,213 shares of the computer hardware maker’s stock after selling 1,397 shares during the period. NVIDIA accounts for 1.3% of Mechanics Bank Trust Department’s investment portfolio, making the stock its 20th biggest holding. Mechanics Bank Trust Department’s holdings in NVIDIA were worth $9,669,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NVDA. DiNuzzo Private Wealth Inc. grew its position in NVIDIA by 0.8% in the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock valued at $1,157,000 after purchasing an additional 71 shares in the last quarter. Baker Boyer National Bank grew its position in NVIDIA by 3.3% in the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock valued at $323,000 after purchasing an additional 76 shares in the last quarter. SC&H Financial Advisors Inc. grew its position in NVIDIA by 1.6% in the fourth quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker’s stock valued at $681,000 after purchasing an additional 80 shares in the last quarter. DecisionPoint Financial LLC grew its position in shares of NVIDIA by 2.9% in the 4th quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker’s stock valued at $386,000 after acquiring an additional 80 shares during the period. Finally, Matthew Goff Investment Advisor LLC grew its position in shares of NVIDIA by 0.7% in the 4th quarter. Matthew Goff Investment Advisor LLC now owns 11,496 shares of the computer hardware maker’s stock valued at $1,544,000 after acquiring an additional 84 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other NVIDIA news, Director Aarti S. Shah sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the sale, the director now directly owns 53,208 shares of the company’s stock, valued at $6,300,891.36. The trade was a 27.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the sale, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. The trade was a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,560,845 shares of company stock valued at $360,351,849. 4.17% of the stock is owned by insiders.

NVIDIA Trading Down 0.8%

Shares of NVIDIA stock opened at $142.83 on Thursday. The firm has a market capitalization of $3.49 trillion, a PE ratio of 56.21, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $120.91 and its 200 day moving average is $126.34. NVIDIA Co. has a 1 year low of $86.62 and a 1 year high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced 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). The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share. Equities research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

Analysts Set New Price Targets

A number of research analysts have recently commented on NVDA shares. Citigroup reissued a “buy” rating and issued a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a research report on Thursday, May 29th. Rosenblatt Securities lifted their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Wedbush reissued an “outperform” rating on shares of NVIDIA in a research report on Thursday, May 29th. Barclays reissued an “overweight” rating and issued a $170.00 price objective (up previously from $155.00) on shares of NVIDIA in a research report on Thursday, May 29th. Finally, HSBC downgraded shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-five have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $172.24.

About NVIDIA

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.