Rockland Trust Co. Decreases Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Rockland Trust Co. lowered its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 0.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,466 shares of the computer hardware maker’s stock after selling 228 shares during the period. Rockland Trust Co.’s holdings in NVIDIA were worth $3,519,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ballew Advisors Inc raised its stake in NVIDIA by 131.9% in the first quarter. Ballew Advisors Inc now owns 8,250 shares of the computer hardware maker’s stock worth $915,000 after buying an additional 4,692 shares in the last quarter. May Barnhard Investments LLC raised its stake in NVIDIA by 52.0% during the first quarter. May Barnhard Investments LLC now owns 13,863 shares of the computer hardware maker’s stock valued at $1,502,000 after buying an additional 4,742 shares during the last quarter. Union Bancaire Privee UBP SA boosted its stake in NVIDIA by 14.4% in the 1st quarter. Union Bancaire Privee UBP SA now owns 1,267,678 shares of the computer hardware maker’s stock worth $134,660,000 after purchasing an additional 159,644 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of NVIDIA by 20.9% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 2,313,126 shares of the computer hardware maker’s stock valued at $250,697,000 after buying an additional 399,944 shares during the last quarter. Finally, Bellecapital International Ltd. boosted its stake in NVIDIA by 15.0% during the 1st quarter. Bellecapital International Ltd. now owns 39,724 shares of the computer hardware maker’s stock valued at $4,305,000 after purchasing an additional 5,185 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Up 0.5%

Shares of NVDA stock opened at $155.02 on Friday. The stock’s fifty day moving average price is $129.83 and its 200 day moving average price is $126.89. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $156.72. The company has a market cap of $3.78 trillion, a price-to-earnings ratio of 50.01, a price-to-earnings-growth ratio of 1.36 and a beta of 2.12. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period in the prior year, the business posted $0.61 EPS. NVIDIA’s revenue was up 69.2% compared to the same quarter last year. On average, research analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of research analyst reports. DA Davidson lifted their target price on shares of NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday, May 29th. Barclays upped their price target on shares of NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a research note on Wednesday, April 16th. Loop Capital boosted their price target on shares of NVIDIA from $175.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $175.78.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the firm’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the transaction, the chief executive officer now owns 75,548,225 shares of the company’s stock, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 30,500 shares of the business’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $144.21, for a total transaction of $4,398,405.00. Following the sale, the chief financial officer now directly owns 3,012,166 shares in the company, valued at $434,384,458.86. This trade represents a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,468,863 shares of company stock valued at $495,150,332. Insiders own 4.17% of the company’s stock.

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.