City National Bank of Florida MSD Takes Position in NVIDIA Co. (NASDAQ:NVDA)

City National Bank of Florida MSD bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 12,955 shares of the computer hardware maker's stock, valued at approximately $1,740,000. NVIDIA accounts for about 1.6% of City National Bank of Florida MSD's investment portfolio, making the stock its 11th largest position.

A number of other hedge funds have also added to or reduced their stakes in NVDA. DiNuzzo Private Wealth Inc. grew its holdings in NVIDIA by 0.8% during the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock worth $1,157,000 after acquiring an additional 71 shares in the last quarter. Baker Boyer National Bank raised its holdings in shares of NVIDIA by 3.3% in the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker's stock valued at $323,000 after purchasing an additional 76 shares in the last quarter. SC&H Financial Advisors Inc. lifted its position in shares of NVIDIA by 1.6% in the 4th quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker's stock worth $681,000 after purchasing an additional 80 shares during the period. DecisionPoint Financial LLC boosted its stake in shares of NVIDIA by 2.9% during the fourth quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker's stock valued at $386,000 after purchasing an additional 80 shares in the last quarter. Finally, Matthew Goff Investment Advisor LLC increased its holdings in NVIDIA by 0.7% during the fourth quarter. Matthew Goff Investment Advisor LLC now owns 11,496 shares of the computer hardware maker's stock valued at $1,544,000 after buying an additional 84 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of analyst reports. Mizuho upped their target price on NVIDIA from $168.00 to $170.00 and gave the stock an "outperform" rating in a report on Thursday, May 29th. DZ Bank raised NVIDIA from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. Barclays restated an "overweight" rating and set a $170.00 price objective (up from $155.00) on shares of NVIDIA in a research note on Thursday, May 29th. KeyCorp set a $190.00 target price on NVIDIA in a research note on Wednesday, March 19th. Finally, Truist Financial boosted 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. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $171.66.

Insider Buying and Selling at NVIDIA

In other news, Director Robert K. Burgess sold 53,324 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the completion of the transaction, the director now owns 251,044 shares of the company's stock, valued at $28,993,071.56. The trade was a 17.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John Dabiri sold 2,663 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,257,983 shares of company stock valued at $172,973,349. 4.17% of the stock is owned by insiders.

NVIDIA Stock Performance

NASDAQ NVDA traded up $1.73 during trading hours on Friday, reaching $141.72. The stock had a trading volume of 153,523,162 shares, compared to its average volume of 279,133,751. NVIDIA Co. has a 52-week low of $86.62 and a 52-week high of $195.95. The stock has a fifty day moving average of $117.82 and a 200 day moving average of $126.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market cap of $3.46 trillion, a P/E ratio of 55.77, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business's revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 earnings per share. Sell-side analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors 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 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.