Mechanics Financial Corp Raises Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Mechanics Financial Corp boosted its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 16.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,567 shares of the computer hardware maker's stock after purchasing an additional 4,200 shares during the period. NVIDIA comprises 1.5% of Mechanics Financial Corp's portfolio, making the stock its 14th largest position. Mechanics Financial Corp's holdings in NVIDIA were worth $3,204,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NVDA. Norges Bank purchased a new position in NVIDIA in the fourth quarter valued at about $43,515,504,000. GAMMA Investing LLC grew its position in shares of NVIDIA by 12,173.2% in the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock worth $5,293,039,000 after acquiring an additional 48,439,859 shares in the last quarter. Northern Trust Corp grew its position in shares of NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of NVIDIA by 204.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock worth $3,864,026,000 after acquiring an additional 23,948,733 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of NVIDIA in the 4th quarter worth approximately $2,987,733,000. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Price Performance

Shares of NVDA opened at $183.16 on Wednesday. The business's 50-day moving average is $161.55 and its 200-day moving average is $134.24. 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 has a market capitalization of $4.47 trillion, a price-to-earnings ratio of 59.08, a P/E/G ratio of 1.60 and a beta of 2.14. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $184.48.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data 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 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 period in the previous year, the firm posted $0.61 earnings per share. The business's revenue for the quarter was up 69.2% on a year-over-year basis. Equities research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed 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 of this dividend was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

Analyst Ratings Changes

Several research analysts have recently commented on NVDA shares. Truist Financial lifted their target price on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. The Goldman Sachs Group started coverage on NVIDIA in a research report on Thursday, July 10th. They issued a "buy" rating and a $185.00 target price for the company. Loop Capital lifted their target price on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Jefferies Financial Group lifted their target price on NVIDIA from $185.00 to $200.00 in a research report on Wednesday, July 16th. Finally, Bank of America lifted their target price on NVIDIA from $180.00 to $220.00 in a research report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $183.75.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 27,640 shares of NVIDIA stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the completion of the sale, the chief financial officer directly owned 2,956,876 shares in the company, valued at $526,501,340.56. The trade was a 0.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $182.38, for a total value of $13,678,500.00. Following the completion of the sale, the chief executive officer directly owned 73,223,225 shares of the company's stock, valued at approximately $13,354,451,775.50. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,687,440 shares of company stock valued at $862,095,782. Insiders own 4.17% of the company's stock.

About NVIDIA

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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