First County Bank CT Grows Stake in NVIDIA Co. (NASDAQ:NVDA)

First County Bank CT grew its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 25.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,813 shares of the computer hardware maker's stock after acquiring an additional 9,627 shares during the quarter. NVIDIA comprises about 2.9% of First County Bank CT's portfolio, making the stock its 5th largest position. First County Bank CT's holdings in NVIDIA were worth $5,182,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Regent Peak Wealth Advisors LLC boosted its holdings in shares of NVIDIA by 0.4% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 81,833 shares of the computer hardware maker's stock valued at $10,989,000 after buying an additional 322 shares in the last quarter. Wealth Group Ltd. lifted its holdings in shares of NVIDIA by 1.8% during the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock valued at $766,000 after purchasing an additional 100 shares during the last quarter. Tallon Kerry Patrick acquired a new stake in shares of NVIDIA in the 4th quarter worth $972,000. Capital & Planning LLC grew its stake in NVIDIA by 16.9% during the 4th quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker's stock worth $1,021,000 after buying an additional 1,099 shares during the last quarter. Finally, Mechanics Bank Trust Department grew its stake in NVIDIA by 1.2% during the 4th quarter. Mechanics Bank Trust Department now owns 90,610 shares of the computer hardware maker's stock worth $12,168,000 after buying an additional 1,103 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NVDA shares. Needham & Company LLC restated a "buy" rating and set a $160.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. Arete Research upgraded NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a research report on Wednesday, April 16th. Wedbush reissued an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. Finally, William Blair reissued an "outperform" rating on shares of NVIDIA in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-five have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $172.24.

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on 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 transaction, the director now owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Aarti S. Shah sold 20,000 shares of NVIDIA stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the transaction, the director now owns 53,208 shares in the company, valued at approximately $6,300,891.36. This trade represents a 27.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,560,845 shares of company stock worth $360,351,849. 4.17% of the stock is owned by insiders.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA traded down $3.03 during trading hours on Friday, hitting $141.97. The stock had a trading volume of 180,270,368 shares, compared to its average volume of 276,508,275. The stock's fifty day simple moving average is $121.86 and its 200 day simple moving average is $126.41. NVIDIA Co. has a 1-year low of $86.62 and a 1-year high of $153.13. The firm has a market capitalization of $3.46 trillion, a price-to-earnings ratio of 55.87, a PEG ratio of 1.76 and a beta of 2.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted 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 55.69% and a return on equity of 114.83%. The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the prior year, the business earned $0.61 EPS. NVIDIA's revenue was up 69.2% compared to the same quarter last year. Sell-side analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be given a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is 1.29%.

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.