Berkshire Bank Reduces Stake in NVIDIA Corporation (NASDAQ:NVDA)

Berkshire Bank lessened its position in NVIDIA Corporation (NASDAQ:NVDA) by 6.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 99,759 shares of the computer hardware maker’s stock after selling 6,549 shares during the period. NVIDIA comprises 2.6% of Berkshire Bank’s portfolio, making the stock its 8th largest holding. Berkshire Bank’s holdings in NVIDIA were worth $10,812,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tacita Capital Inc bought a new position in NVIDIA during the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC bought a new position in NVIDIA during the fourth quarter valued at approximately $38,000. Copia Wealth Management bought a new position in NVIDIA during the fourth quarter valued at approximately $50,000. Bruce G. Allen Investments LLC lifted its position in NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after purchasing an additional 327 shares during the period. Finally, LSV Asset Management bought a new position in NVIDIA during the fourth quarter valued at approximately $54,000. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the 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 owned 26,671,360 shares in the company, valued at $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the transaction, the director owned 9,214,697 shares of the company’s stock, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,044,919 shares of company stock worth $584,414,209 over the last three months. 4.17% of the stock is owned by company insiders.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $159.28 on Friday. 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 fifty day moving average price of $135.41 and a 200 day moving average price of $127.64. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $160.98. The firm has a market cap of $3.89 trillion, a price-to-earnings ratio of 51.38, a P/E/G ratio of 1.39 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share 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 the consensus estimate of $43.09 billion. During the same quarter in the prior year, the company posted $0.61 EPS. NVIDIA’s revenue was up 69.2% compared to the same quarter last year. As a group, sell-side analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 1.29%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NVDA shares. Rosenblatt Securities increased their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Benchmark restated a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 target price (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Susquehanna reaffirmed a “positive” rating and set a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $176.19.

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.