City State Bank Acquires 717 Shares of NVIDIA Corporation (NASDAQ:NVDA)

City State Bank raised its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 2.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,492 shares of the computer hardware maker’s stock after purchasing an additional 717 shares during the period. NVIDIA accounts for about 1.3% of City State Bank’s holdings, making the stock its 19th largest holding. City State Bank’s holdings in NVIDIA were worth $3,955,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wealth Group Ltd. raised its position in shares of NVIDIA by 1.8% in the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker’s stock worth $766,000 after acquiring an additional 100 shares in the last quarter. Tallon Kerry Patrick bought a new position in shares of NVIDIA in the 4th quarter worth approximately $972,000. Capital & Planning LLC raised its position in shares of NVIDIA by 16.9% in the 4th quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker’s stock worth $1,021,000 after acquiring an additional 1,099 shares in the last quarter. Ironwood Wealth Management LLC. increased its position in NVIDIA by 1.6% during the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker’s stock valued at $871,000 after buying an additional 104 shares in the last quarter. Finally, Brighton Jones LLC increased its position in NVIDIA by 12.4% during the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock valued at $43,631,000 after buying an additional 35,815 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the sale, the insider now directly owns 479,428 shares of the company’s stock, valued at $55,997,190.40. This trade represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 190,000 shares of the firm’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.51, for a total value of $27,076,900.00. Following the sale, the director now directly owns 8,855,848 shares in the company, valued at approximately $1,262,046,898.48. This represents a 2.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,540,845 shares of company stock valued at $357,983,449. 4.17% of the stock is owned by corporate insiders.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $145.48 on Thursday. The stock has a 50-day simple moving average of $124.96 and a two-hundred day simple moving average of $126.62. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $153.13. 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 firm has a market capitalization of $3.55 trillion, a PE ratio of 46.93, a P/E/G ratio of 1.27 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA) last released its 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 firm had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company’s revenue was up 69.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 earnings per share. Analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on NVDA shares. Raymond James Financial raised their price objective on NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 29th. Benchmark reaffirmed a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. Barclays raised their price objective on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday. DA Davidson raised their price objective on NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Finally, Bank of America raised their price objective on NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, four 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.05.

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.