Mechanics Bank Trust Department Sells 13,006 Shares of NVIDIA Corporation $NVDA

Key Points

• Mechanics Bank Trust Department has reduced its stake in NVIDIA Corporation by 14.6%, now holding 76,207 shares valued at approximately $12 million, making it the bank's 13th largest holding.
• Several institutional investors significantly increased their positions in NVIDIA, with Kingstone Capital Partners boosting its holdings by over 267,000% during the second quarter, now owning nearly 382 million shares.
• NVIDIA recently reported earnings of $1.05 per share, surpassing expectations, with revenue growth of 55.6% year-over-year, reflecting strong performance in the tech sector.

Mechanics Bank Trust Department trimmed its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 14.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,207 shares of the computer hardware maker's stock after selling 13,006 shares during the period. NVIDIA makes up approximately 1.7% of Mechanics Bank Trust Department's holdings, making the stock its 13th largest holding. Mechanics Bank Trust Department's holdings in NVIDIA were worth $12,040,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC boosted its holdings in NVIDIA by 267,959.7% during the second quarter. Kingstone Capital Partners Texas LLC now owns 382,373,765 shares of the computer hardware maker's stock valued at $64,976,521,000 after purchasing an additional 382,231,120 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in NVIDIA by 2.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 206,794,926 shares of the computer hardware maker's stock valued at $22,412,434,000 after purchasing an additional 5,896,735 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in NVIDIA by 123.5% during the first quarter. Goldman Sachs Group Inc. now owns 187,995,213 shares of the computer hardware maker's stock valued at $20,374,921,000 after purchasing an additional 103,889,872 shares in the last quarter. Nuveen LLC acquired a new stake in NVIDIA during the first quarter valued at approximately $15,089,414,000. Finally, Amundi boosted its holdings in NVIDIA by 16.0% during the first quarter. Amundi now owns 135,770,043 shares of the computer hardware maker's stock valued at $13,826,199,000 after purchasing an additional 18,733,431 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Trading Up 0.4%

NVIDIA stock opened at $187.24 on Thursday. NVIDIA Corporation has a one year low of $86.62 and a one year high of $188.14. The company has a market cap of $4.55 trillion, a price-to-earnings ratio of 53.34, a P/E/G ratio of 1.35 and a beta of 2.12. The firm has a 50-day moving average of $177.52 and a 200-day moving average of $147.17. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.21 and a quick ratio of 3.60.

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

NVIDIA Dividend Announcement

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

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $164.36, for a total transaction of $12,327,000.00. Following the sale, the chief executive officer owned 74,648,225 shares of the company's stock, valued at approximately $12,269,182,261. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Harvey C. Jones sold 250,000 shares of NVIDIA stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $176.21, for a total transaction of $44,052,500.00. Following the transaction, the director owned 7,183,280 shares in the company, valued at approximately $1,265,765,768.80. This trade represents a 3.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,022,407 shares of company stock valued at $700,382,754 over the last three months. 4.17% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NVDA shares. DA Davidson raised NVIDIA from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $195.00 to $210.00 in a report on Thursday, September 11th. Craig Hallum boosted their target price on NVIDIA from $195.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Daiwa Capital Markets boosted their target price on NVIDIA from $165.00 to $205.00 and gave the stock an "outperform" rating in a report on Wednesday, September 17th. Needham & Company LLC reissued a "buy" rating and issued a $200.00 target price on shares of NVIDIA in a report on Thursday, August 28th. Finally, Bank of America boosted their target price on NVIDIA from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Four research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.00.

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.

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