ANB Bank Grows Stock Position in NVIDIA Corporation $NVDA

ANB Bank boosted its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 41.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,778 shares of the computer hardware maker’s stock after buying an additional 6,995 shares during the quarter. NVIDIA accounts for approximately 1.7% of ANB Bank’s investment portfolio, making the stock its 12th largest position. ANB Bank’s holdings in NVIDIA were worth $3,757,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kingstone Capital Partners Texas LLC increased its stake in shares of NVIDIA by 267,959.7% during the second quarter. Kingstone Capital Partners Texas LLC now owns 382,373,765 shares of the computer hardware maker’s stock valued at $64,976,521,000 after buying an additional 382,231,120 shares during the period. Nuveen LLC purchased a new position in NVIDIA during the 1st quarter valued at about $15,089,414,000. Goldman Sachs Group Inc. raised its holdings in shares of NVIDIA by 123.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 187,995,213 shares of the computer hardware maker’s stock valued at $20,374,921,000 after purchasing an additional 103,889,872 shares in the last quarter. Amundi lifted its position in shares of NVIDIA by 16.0% in the 1st quarter. Amundi now owns 135,770,043 shares of the computer hardware maker’s stock worth $13,826,199,000 after purchasing an additional 18,733,431 shares during the period. Finally, Strs Ohio bought a new position in shares of NVIDIA during the first quarter valued at approximately $1,163,288,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 0.5%

NVIDIA stock opened at $182.41 on Friday. The business’s 50-day moving average price is $187.13 and its 200 day moving average price is $172.08. The company has a quick ratio of 3.71, a current ratio of 4.47 and a debt-to-equity ratio of 0.06. The firm has a market cap of $4.43 trillion, a price-to-earnings ratio of 45.26, a price-to-earnings-growth ratio of 0.90 and a beta of 2.29. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $212.19.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.07. The company had revenue of $57.01 billion during the quarter, compared to the consensus estimate of $54.66 billion. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.NVIDIA’s revenue for the quarter was up 62.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 earnings per share. As a group, sell-side analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Thursday, December 4th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date is Thursday, December 4th. NVIDIA’s dividend payout ratio (DPR) is currently 0.99%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NVDA shares. Bank of America raised their price target on NVIDIA from $235.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. KeyCorp increased their price objective on shares of NVIDIA from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of NVIDIA from $180.00 to $215.00 and gave the stock a “hold” rating in a research report on Thursday, November 20th. Oppenheimer reaffirmed an “outperform” rating and issued a $265.00 price target on shares of NVIDIA in a report on Thursday, November 20th. Finally, CICC Research boosted their price objective on shares of NVIDIA from $200.00 to $228.00 and gave the company an “outperform” rating in a report on Friday, November 21st. Four analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, NVIDIA presently has an average rating of “Buy” and an average price target of $258.65.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 350,000 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $176.39, for a total value of $61,736,500.00. Following the completion of the transaction, the director owned 7,399,803 shares in the company, valued at approximately $1,305,251,251.17. This represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Harvey C. Jones sold 250,000 shares of the firm’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $176.21, for a total value of $44,052,500.00. Following the sale, the director owned 7,183,280 shares in the company, valued at $1,265,765,768.80. This trade represents a 3.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 2,949,931 shares of company stock valued at $531,605,955. Corporate insiders own 4.17% of the company’s stock.

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.