Sanibel Captiva Trust Company Inc. Sells 12,988 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Sanibel Captiva Trust Company Inc. lowered its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 5.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 249,074 shares of the computer hardware maker’s stock after selling 12,988 shares during the quarter. NVIDIA accounts for about 0.9% of Sanibel Captiva Trust Company Inc.’s portfolio, making the stock its 29th largest position. Sanibel Captiva Trust Company Inc.’s holdings in NVIDIA were worth $26,995,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of NVDA. Tacita Capital Inc purchased a new position in NVIDIA in the 4th quarter worth about $28,000. Vision Financial Markets LLC purchased a new stake in NVIDIA during the 4th quarter worth approximately $38,000. Luken Investment Analytics LLC purchased a new stake in NVIDIA during the 4th quarter worth approximately $40,000. Copia Wealth Management acquired a new stake in NVIDIA during the 4th quarter valued at approximately $50,000. Finally, Bruce G. Allen Investments LLC lifted its stake in NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after acquiring an additional 327 shares during the period. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NVDA. Piper Sandler reiterated an “overweight” rating and issued a $180.00 target price (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Seaport Res Ptn upgraded shares of NVIDIA to a “strong sell” rating in a research report on Wednesday, April 30th. Truist Financial upped their target price on shares of NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Wedbush reissued an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. Finally, DZ Bank raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $173.05.

Insider Transactions at NVIDIA

In related news, Director Robert K. Burgess sold 50,000 shares of NVIDIA stock in a transaction on Friday, May 30th. The shares were sold at an average price of $134.82, for a total value of $6,741,000.00. Following the transaction, the director now directly owns 201,044 shares in the company, valued at $27,104,752.08. This trade represents a 19.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,228,433 shares of company stock worth $459,710,171. Insiders own 4.17% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA opened at $144.17 on Tuesday. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The firm has a market cap of $3.52 trillion, a PE ratio of 46.51, a price-to-earnings-growth ratio of 1.27 and a beta of 2.12. The company’s 50 day simple moving average is $127.04 and its 200-day simple moving average is $126.44. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month 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). The business had revenue of $44.06 billion for 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 business’s revenue was up 69.2% on a year-over-year basis. During the same quarter last year, the business posted $0.61 earnings per share. As a group, equities analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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 dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

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.