NVIDIA Corporation (NASDAQ:NVDA) Stake Lessened by Hickory Point Bank & Trust

Hickory Point Bank & Trust decreased its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 2.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,557 shares of the computer hardware maker’s stock after selling 363 shares during the period. NVIDIA comprises about 1.6% of Hickory Point Bank & Trust’s portfolio, making the stock its 12th largest holding. Hickory Point Bank & Trust’s holdings in NVIDIA were worth $1,794,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. BTC Capital Management Inc. grew its stake in shares of NVIDIA by 2.3% in the 1st quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker’s stock valued at $35,785,000 after buying an additional 7,476 shares in the last quarter. Capital Performance Advisors LLP raised its stake in NVIDIA by 59.3% during the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock worth $3,586,000 after acquiring an additional 9,944 shares in the last quarter. Waddell & Associates LLC increased its stake in shares of NVIDIA by 1.2% in the fourth quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker’s stock valued at $3,240,000 after buying an additional 297 shares in the last quarter. Strategy Asset Managers LLC boosted its holdings in NVIDIA by 0.8% in the fourth quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker’s stock valued at $7,024,000 after acquiring an additional 405 shares during the last quarter. Finally, Ethos Financial Group LLC boosted its holdings in NVIDIA by 24.1% in the fourth quarter. Ethos Financial Group LLC now owns 32,092 shares of the computer hardware maker’s stock valued at $4,312,000 after acquiring an additional 6,241 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NVDA shares. Raymond James Financial raised their price target on NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 29th. Benchmark reiterated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. Bank of America upped their price objective on NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Hsbc Global Res cut NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Finally, Seaport Res Ptn upgraded NVIDIA to a “strong sell” rating in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $173.05.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the transaction, the director now directly owns 9,214,697 shares of the company’s stock, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s 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 sale, the director now owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,469,685 shares of company stock valued at $349,669,962. Insiders own 4.17% of the company’s stock.

NVIDIA Trading Down 1.1%

NVDA stock opened at $143.83 on Friday. The company’s 50-day simple moving average is $126.37 and its 200-day simple moving average is $126.56. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $153.13. The firm has a market cap of $3.51 trillion, a P/E ratio of 46.40, a PEG ratio of 1.27 and a beta of 2.12.

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

NVIDIA Dividend Announcement

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

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.