FARMERS & MERCHANTS TRUST Co OF LONG BEACH Has $2.16 Million Stake in NVIDIA Corporation (NASDAQ:NVDA)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 62.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,888 shares of the computer hardware maker's stock after purchasing an additional 7,608 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH's holdings in NVIDIA were worth $2,155,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brown Miller Wealth Management LLC raised its holdings in shares of NVIDIA by 1.8% in the first quarter. Brown Miller Wealth Management LLC now owns 286,375 shares of the computer hardware maker's stock valued at $31,037,000 after purchasing an additional 4,981 shares during the last quarter. 1900 Wealth Management LLC grew its position in NVIDIA by 122.3% in the first quarter. 1900 Wealth Management LLC now owns 12,410 shares of the computer hardware maker's stock valued at $1,345,000 after purchasing an additional 6,828 shares in the last quarter. Authentikos Wealth Advisory LLC increased its stake in NVIDIA by 732.5% in the 1st quarter. Authentikos Wealth Advisory LLC now owns 28,104 shares of the computer hardware maker's stock valued at $3,046,000 after buying an additional 24,728 shares during the last quarter. Cyndeo Wealth Partners LLC increased its stake in NVIDIA by 25.4% in the 1st quarter. Cyndeo Wealth Partners LLC now owns 257,333 shares of the computer hardware maker's stock valued at $27,890,000 after buying an additional 52,061 shares during the last quarter. Finally, Hanson & Doremus Investment Management lifted its position in NVIDIA by 24.7% during the 1st quarter. Hanson & Doremus Investment Management now owns 7,895 shares of the computer hardware maker's stock worth $856,000 after buying an additional 1,564 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA traded up $2.41 on Thursday, reaching $159.66. 74,310,144 shares of the company's stock were exchanged, compared to its average volume of 267,687,954. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $160.93. The company has a fifty day moving average of $134.36 and a 200-day moving average of $127.45. The company has a market capitalization of $3.90 trillion, a price-to-earnings ratio of 51.51, a PEG ratio of 1.36 and a beta of 2.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (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 company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period in the prior year, the company earned $0.61 EPS. The company's quarterly revenue was up 69.2% compared to the same quarter last year. On average, research 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 will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is currently 1.29%.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the sale, the chief executive officer owned 75,548,225 shares of the company's stock, valued at $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the transaction, the director directly owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,044,919 shares of company stock worth $584,414,209 over the last three months. Company insiders own 4.17% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on NVDA. UBS Group restated a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Hsbc Global Res cut NVIDIA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Wedbush reissued an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Susquehanna restated a "positive" rating and set a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $176.19.

NVIDIA Company 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.