Riverview Trust Co Sells 631 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Riverview Trust Co lessened its stake in NVIDIA Corporation (NASDAQ:NVDA) by 3.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,336 shares of the computer hardware maker’s stock after selling 631 shares during the quarter. NVIDIA comprises about 1.9% of Riverview Trust Co’s holdings, making the stock its 8th largest holding. Riverview Trust Co’s holdings in NVIDIA were worth $1,879,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. FMR LLC lifted its stake in shares of NVIDIA by 0.7% in the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after acquiring an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC grew its stake in NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of NVIDIA by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock valued at $55,237,367,000 after purchasing an additional 3,721,331 shares in the last quarter. Norges Bank acquired a new stake in shares of NVIDIA during the fourth quarter worth approximately $43,515,504,000. Finally, Northern Trust Corp increased its stake in shares of NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after buying an additional 36,266,817 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Ratings Changes

NVDA has been the subject of several recent analyst reports. DA Davidson raised their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, May 29th. HSBC downgraded NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research note on Thursday, April 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a report on Wednesday, April 16th. Raymond James Financial lifted their target price on NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 29th. Finally, Bank of America upped their price target on NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. One equities research 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $173.05.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, the director now owns 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 value of $7,787,887.80. Following the completion of the transaction, 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. Over the last ninety days, insiders have sold 2,560,845 shares of company stock valued at $360,351,849. Company insiders own 4.17% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $144.12 on Wednesday. The company has a market capitalization of $3.52 trillion, a PE ratio of 46.49, a price-to-earnings-growth ratio of 1.28 and a beta of 2.12. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The stock has a fifty day moving average of $124.34 and a 200-day moving average of $126.49. NVIDIA Corporation has a one year low of $86.62 and a one year high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period last year, the firm earned $0.61 earnings per share. The firm’s revenue for the quarter was up 69.2% on a year-over-year basis. As a group, equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

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.