First National Bank & Trust Co. of Newtown Decreases Position in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• First National Bank & Trust Co. of Newtown reduced its stake in NVIDIA Corporation by 3.7%, leaving them with 49,875 shares valued at approximately $5.4 million, which constitutes about 1.1% of their total investment portfolio.
• Analysts have raised their price targets for NVIDIA, with Oppenheimer and Barclays increasing targets to $200, while the overall consensus rating remains a "Moderate Buy" with an average price target of $182.03.
• NVIDIA recently reported a miss in quarterly earnings with EPS of $0.81, below the expected $0.87, despite a 69.2% year-over-year revenue increase of $44.06 billion.

First National Bank & Trust Co. of Newtown lowered its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,875 shares of the computer hardware maker's stock after selling 1,925 shares during the period. NVIDIA accounts for 1.1% of First National Bank & Trust Co. of Newtown's investment portfolio, making the stock its 16th biggest holding. First National Bank & Trust Co. of Newtown's holdings in NVIDIA were worth $5,405,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of NVDA. Tacita Capital Inc bought a new position in NVIDIA in the 4th quarter valued at $28,000. Vision Financial Markets LLC bought a new position in NVIDIA in the 4th quarter valued at $38,000. Copia Wealth Management bought a new position in NVIDIA in the 4th quarter valued at $50,000. LSV Asset Management bought a new position in NVIDIA in the 4th quarter valued at $54,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in NVIDIA in the 1st quarter valued at $51,000. Hedge funds and other institutional investors own 65.27% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on NVDA. Oppenheimer raised their price target on shares of NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Summit Insights raised shares of NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Barclays raised their price target on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Arete Research raised shares of NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. Finally, Mizuho set a $192.00 target price on shares of NVIDIA and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. One research 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 stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $182.03.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $173.72 on Monday. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $183.30. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The company's 50-day moving average is $155.30 and its 200 day moving average is $132.28. The stock has a market capitalization of $4.24 trillion, a P/E ratio of 56.04, a P/E/G ratio of 1.53 and a beta of 2.14.

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

NVIDIA Announces Dividend

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

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 935,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the sale, the director owned 9,214,697 shares in the company, 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 have sold 5,339,800 shares of company stock worth $800,141,003 over the last ninety days. 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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