Cullen Frost Bankers Inc. Has $167.83 Million Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Cullen Frost Bankers Inc. lowered its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,548,516 shares of the computer hardware maker's stock after selling 34,548 shares during the quarter. NVIDIA accounts for approximately 2.4% of Cullen Frost Bankers Inc.'s portfolio, making the stock its 5th largest position. Cullen Frost Bankers Inc.'s holdings in NVIDIA were worth $167,828,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NVDA. Condor Capital Management boosted its holdings in NVIDIA by 3.6% during the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock worth $344,000 after acquiring an additional 89 shares during the last quarter. High Note Wealth LLC boosted its holdings in NVIDIA by 0.5% during the 1st quarter. High Note Wealth LLC now owns 17,873 shares of the computer hardware maker's stock worth $1,937,000 after acquiring an additional 91 shares during the last quarter. Kelly Financial Services LLC boosted its holdings in NVIDIA by 2.0% during the 1st quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock worth $513,000 after acquiring an additional 94 shares during the last quarter. Mendel Capital Management LLC boosted its holdings in NVIDIA by 0.8% during the 1st quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock worth $1,287,000 after acquiring an additional 96 shares during the last quarter. Finally, Wallace Hart LLC boosted its holdings in NVIDIA by 3.9% during the 4th quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker's stock worth $349,000 after acquiring an additional 97 shares during the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $183.16 on Wednesday. The stock has a fifty day moving average of $161.55 and a 200 day moving average of $134.24. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $184.48. The firm has a market capitalization of $4.47 trillion, a price-to-earnings ratio of 59.08, a PEG ratio of 1.60 and a beta of 2.14. 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 announced 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. During the same period in the previous year, the business earned $0.61 EPS. The business's revenue was up 69.2% compared to the same quarter last year. As a group, research analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given 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 0.0%. NVIDIA's dividend payout ratio (DPR) is currently 1.29%.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of analyst reports. Arete Research raised shares of NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. Morgan Stanley boosted their price target on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Benchmark reissued a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a report on Thursday, May 29th. Finally, Jefferies Financial Group boosted their price target on shares of NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and four have issued 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 a consensus price target of $183.75.

Insider Transactions at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the transaction, the executive vice president owned 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director directly owned 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. This represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,687,440 shares of company stock worth $862,095,782. Corporate insiders own 4.17% of the company's stock.

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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