NVIDIA Corporation (NASDAQ:NVDA) Shares Bought by First Interstate Bank

Key Points

• First Interstate Bank increased its holdings in NVIDIA Corporation by 75%, now owning 37,158 shares valued at approximately $4,027,000 as of the latest SEC filing.
• NVIDIA reported a net margin of 51.69% and revenue of $44.06 billion in its latest earnings announcement, exceeding analyst expectations.
• Insiders, including CFO Colette Kress and CEO Jen Hsun Huang, sold significant shares recently, with Kress selling 27,650 shares and Huang selling 75,000 shares.

First Interstate Bank raised its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 75.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,158 shares of the computer hardware maker's stock after acquiring an additional 15,920 shares during the quarter. First Interstate Bank's holdings in NVIDIA were worth $4,027,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Astoria Portfolio Advisors LLC. raised its stake in shares of NVIDIA by 0.9% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock worth $9,610,000 after buying an additional 864 shares during the last quarter. Centerpoint Advisory Group increased its position in NVIDIA by 2.5% during the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after purchasing an additional 943 shares in the last quarter. GSB Wealth Management LLC increased its position in NVIDIA by 3.3% during the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after purchasing an additional 1,043 shares in the last quarter. Variant Private Wealth LLC increased its position in NVIDIA by 20.6% during the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after purchasing an additional 3,206 shares in the last quarter. Finally, Financial Perspectives Inc increased its position in NVIDIA by 2.8% during the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after purchasing an additional 1,265 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Insider Activity

In other news, CFO Colette Kress sold 27,650 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total value of $4,725,108.50. Following the completion of the sale, the chief financial officer directly owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. The trade was a 0.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $178.74, for a total value of $13,405,500.00. Following the completion of the sale, the chief executive officer owned 73,748,225 shares of the company's stock, valued at $13,181,757,736.50. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,339,800 shares of company stock worth $800,141,003. 4.17% of the stock is currently owned by insiders.

NVIDIA Stock Performance

Shares of NVDA opened at $173.72 on Monday. The business's 50 day moving average is $155.30 and its two-hundred day moving average is $132.28. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $183.30. The firm has a market cap of $4.24 trillion, a price-to-earnings ratio of 56.04, a PEG ratio of 1.53 and a beta of 2.14. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (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 business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period in the previous year, the company earned $0.61 earnings per share. The business's revenue for the quarter was up 69.2% on a year-over-year basis. Analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NVDA shares. UBS Group reiterated a "buy" rating on shares of NVIDIA in a research report on Friday, May 23rd. Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, April 16th. Raymond James Financial lifted their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 29th. Oppenheimer lifted their price target on NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Finally, Mizuho set a $192.00 price target on NVIDIA and gave the company an "outperform" rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $182.03.

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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