BankPlus Trust Department Sells 6,830 Shares of NVIDIA Corporation (NASDAQ:NVDA)

BankPlus Trust Department lessened its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 10.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,895 shares of the computer hardware maker's stock after selling 6,830 shares during the quarter. NVIDIA makes up about 2.2% of BankPlus Trust Department's investment portfolio, making the stock its 6th largest position. BankPlus Trust Department's holdings in NVIDIA were worth $6,600,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Wealth Group Ltd. raised its stake in shares of NVIDIA by 1.8% in the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock valued at $766,000 after acquiring an additional 100 shares during the last quarter. Brighton Jones LLC lifted its holdings in NVIDIA by 12.4% in the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock valued at $43,631,000 after buying an additional 35,815 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in NVIDIA by 1.0% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker's stock valued at $315,100,000 after acquiring an additional 22,929 shares during the last quarter. Highview Capital Management LLC DE lifted its stake in shares of NVIDIA by 6.7% in the 4th quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker's stock valued at $7,842,000 after purchasing an additional 3,653 shares during the period. Finally, Hudson Value Partners LLC grew its holdings in NVIDIA by 30.7% during the fourth quarter. Hudson Value Partners LLC now owns 50,658 shares of the computer hardware maker's stock valued at $6,805,000 after purchasing an additional 11,900 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on NVDA shares. Morgan Stanley lifted their price target on NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Truist Financial boosted their price target on NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Phillip Securities upgraded shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, July 14th. Loop Capital lifted their price target on NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Finally, Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $183.75.

NVIDIA Stock Up 0.8%

Shares of NASDAQ NVDA opened at $180.77 on Friday. The company has a 50-day moving average price of $158.85 and a 200-day moving average price of $133.52. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $183.88. The stock has a market capitalization of $4.41 trillion, a P/E ratio of 58.31, a P/E/G ratio of 1.58 and a beta of 2.14. 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period last year, the firm posted $0.61 EPS. On average, equities research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio is currently 1.29%.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the sale, the director owned 26,671,360 shares of the company's stock, valued at $3,808,670,208. This trade represents a 3.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the sale, the director owned 9,214,697 shares of the company's stock, valued at approximately $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 sold 5,537,440 shares of company stock worth $835,035,782 in the last three months. Insiders own 4.17% of the company's stock.

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.

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