Central Bank & Trust Co. Cuts Position in NVIDIA Corporation (NASDAQ:NVDA)

Central Bank & Trust Co. cut its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 611,477 shares of the computer hardware maker's stock after selling 13,262 shares during the quarter. NVIDIA makes up about 11.1% of Central Bank & Trust Co.'s investment portfolio, making the stock its largest position. Central Bank & Trust Co.'s holdings in NVIDIA were worth $66,272,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NVDA. Wealth Group Ltd. lifted its holdings in NVIDIA by 1.8% in the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock valued at $766,000 after purchasing an additional 100 shares in the last quarter. Tallon Kerry Patrick purchased a new stake in NVIDIA during the fourth quarter worth about $972,000. Capital & Planning LLC grew its position in shares of NVIDIA by 16.9% during the fourth quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker's stock worth $1,021,000 after buying an additional 1,099 shares in the last quarter. Ironwood Wealth Management LLC. increased its stake in NVIDIA by 1.6% in the fourth quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker's stock valued at $871,000 after purchasing an additional 104 shares during the last quarter. Finally, Brighton Jones LLC grew its position in shares of NVIDIA by 12.4% during the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock worth $43,631,000 after acquiring an additional 35,815 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the company'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 transaction, the director now owns 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 190,000 shares of the company's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.51, for a total transaction of $27,076,900.00. Following the completion of the transaction, the director now owns 8,855,848 shares of the company's stock, valued at $1,262,046,898.48. This trade represents a 2.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,469,685 shares of company stock worth $349,669,962. Insiders own 4.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NVDA. Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. Arete Research raised NVIDIA to a "strong-buy" rating in a research report on Wednesday, May 21st. Barclays raised their price target on NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. UBS Group reiterated a "buy" rating on shares of NVIDIA in a research report on Friday, May 23rd. Finally, Summit Insights raised NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $173.05.

NVIDIA Trading Down 1.1%

Shares of NVDA stock opened at $143.83 on Friday. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $153.13. The company has a market cap of $3.51 trillion, a PE ratio of 46.40, a P/E/G ratio of 1.27 and a beta of 2.12. 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 stock's fifty day moving average price is $126.37 and its two-hundred day moving average price is $126.56.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) 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 company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the prior year, the business earned $0.61 earnings per share. The firm's revenue for the quarter was up 69.2% on a year-over-year basis. Equities analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company 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 $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

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.

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