CNB Bank Has $10.70 Million Stake in NVIDIA Corporation (NASDAQ:NVDA)

CNB Bank grew its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 98,723 shares of the computer hardware maker's stock after buying an additional 4,779 shares during the quarter. NVIDIA accounts for approximately 5.4% of CNB Bank's portfolio, making the stock its 3rd largest holding. CNB Bank's holdings in NVIDIA were worth $10,700,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tacita Capital Inc bought a new stake in NVIDIA in the 4th quarter worth $28,000. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA during the fourth quarter worth about $38,000. Copia Wealth Management bought a new stake in shares of NVIDIA in the fourth quarter worth about $50,000. Bruce G. Allen Investments LLC increased its holdings in NVIDIA by 198.2% during the 1st 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 4th quarter valued at approximately $54,000. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Performance

NVDA traded down $0.59 during trading on Friday, hitting $172.41. The company's stock had a trading volume of 145,724,125 shares, compared to its average volume of 263,966,224. The business's 50 day simple moving average is $146.99 and its 200-day simple moving average is $129.90. The firm has a market cap of $4.21 trillion, a PE ratio of 55.62, a P/E/G ratio of 1.52 and a beta of 2.13. NVIDIA Corporation has a one year low of $86.62 and a one year high of $174.25. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released 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). The firm had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company's revenue was up 69.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 earnings per share. As a group, sell-side analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.02%. NVIDIA's payout ratio is 1.29%.

Analyst Ratings Changes

NVDA has been the subject of several research reports. Oppenheimer upped their price objective on shares of NVIDIA from $175.00 to $200.00 and gave the stock an "outperform" rating in a report on Tuesday. Needham & Company LLC raised their price objective on shares of NVIDIA from $160.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday. Phillip Securities raised NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research report 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 report on Wednesday, June 25th. Finally, HSBC downgraded NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has a consensus rating of "Moderate Buy" and an average price target of $181.22.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 27,650 shares of NVIDIA stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total value of $4,725,108.50. Following the sale, the chief financial officer owned 2,984,516 shares of the company's stock, valued at $510,023,939.24. The trade was a 0.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director A Brooke Seawell sold 48,792 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the completion of the transaction, the director directly owned 1,729,478 shares of the company's stock, valued at approximately $283,565,212.88. This trade represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,964,800 shares of company stock worth $734,906,003. 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.