Fulton Bank N.A. Grows Stake in NVIDIA Corporation $NVDA

Key Points

• Fulton Bank N.A. increased its stake in NVIDIA Corporation by 3.3%, acquiring a total of 337,910 shares worth approximately $53.4 million.
• NVIDIA recently reported a quarterly earnings per share (EPS) of $1.05, surpassing expectations and achieving a revenue of $46.74 billion, up 55.6% year over year.
• Institutional investors own 65.27% of NVIDIA stock, reflecting significant confidence in the company, as several firms have recently raised their price targets for shares of NVIDIA.

Fulton Bank N.A. raised its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 337,910 shares of the computer hardware maker's stock after purchasing an additional 10,928 shares during the period. NVIDIA comprises 2.0% of Fulton Bank N.A.'s portfolio, making the stock its 12th biggest position. Fulton Bank N.A.'s holdings in NVIDIA were worth $53,386,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kathleen S. Wright Associates Inc. lifted its holdings in NVIDIA by 169.3% during the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker's stock worth $44,000 after buying an additional 254 shares during the period. Copia Wealth Management bought a new position in shares of NVIDIA in the 4th quarter worth $50,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of NVIDIA during the 1st quarter worth $51,000. Bruce G. Allen Investments LLC boosted its position in NVIDIA by 198.2% during the first 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 in the last quarter. Finally, Campbell Capital Management Inc. boosted its position in NVIDIA by 5,900.0% during the first quarter. Campbell Capital Management Inc. now owns 600 shares of the computer hardware maker's stock valued at $65,000 after purchasing an additional 590 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Stock Up 0.4%

NVIDIA stock opened at $177.69 on Friday. The business's 50-day simple moving average is $176.48 and its two-hundred day simple moving average is $145.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.60 and a current ratio of 4.21. The company has a market cap of $4.32 trillion, a PE ratio of 50.62, a PEG ratio of 1.28 and a beta of 2.10. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $184.55.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 27th. The computer hardware maker reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.04. The firm had revenue of $46.74 billion during the quarter, compared to analysts' expectations of $45.65 billion. NVIDIA had a return on equity of 101.74% and a net margin of 52.41%.The company's revenue for the quarter was up 55.6% compared to the same quarter last year. During the same period last year, the business posted $0.68 earnings per share. NVIDIA has set its Q3 2026 guidance at EPS. Equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Thursday, September 11th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend is Thursday, September 11th. NVIDIA's dividend payout ratio (DPR) is 1.14%.

Analysts Set New Price Targets

Several research firms have commented on NVDA. Citigroup decreased their price target on shares of NVIDIA from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, September 8th. Rosenblatt Securities reissued a "buy" rating and set a $215.00 target price on shares of NVIDIA in a research report on Tuesday. BNP Paribas upgraded shares of NVIDIA to a "hold" rating in a research note on Friday, August 1st. Truist Financial upped their price target on NVIDIA from $210.00 to $228.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Finally, Evercore ISI raised their price objective on NVIDIA from $214.00 to $225.00 and gave the stock an "outperform" rating in a research report on Tuesday. Four analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, NVIDIA currently has an average rating of "Moderate Buy" and a consensus price target of $209.82.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $163.11, for a total value of $12,233,250.00. Following the sale, the chief executive officer directly owned 74,873,225 shares of the company's stock, valued at approximately $12,212,571,729.75. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 350,000 shares of NVIDIA stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $176.39, for a total value of $61,736,500.00. Following the transaction, the director owned 7,399,803 shares of the company's stock, valued at $1,305,251,251.17. The trade was a 4.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,176,470 shares of company stock worth $720,979,162 over the last three months. Company insiders own 4.17% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.