Independence Bank of Kentucky lifted its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 34.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,306 shares of the computer hardware maker's stock after buying an additional 32,624 shares during the period. NVIDIA comprises 2.2% of Independence Bank of Kentucky's holdings, making the stock its 7th largest position. Independence Bank of Kentucky's holdings in NVIDIA were worth $13,906,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Wealth Group Ltd. lifted its stake in NVIDIA by 1.8% in the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock valued at $766,000 after acquiring an additional 100 shares in the last quarter. Tallon Kerry Patrick acquired a new position in shares of NVIDIA during the 4th quarter worth approximately $972,000. Capital & Planning LLC raised its stake in shares of 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 purchasing an additional 1,099 shares in the last quarter. Ironwood Wealth Management LLC. boosted its holdings in shares of NVIDIA by 1.6% in the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker's stock valued at $871,000 after buying an additional 104 shares during the last quarter. Finally, Brighton Jones LLC grew its stake in shares of NVIDIA by 12.4% in the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock valued at $43,631,000 after buying an additional 35,815 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.
Insider Activity
In other NVIDIA news, Director Robert K. Burgess sold 50,000 shares of NVIDIA stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $134.82, for a total value of $6,741,000.00. Following the transaction, the director now owns 201,044 shares in the company, valued at $27,104,752.08. The trade was a 19.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark A. Stevens sold 125,836 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $137.79, for a total value of $17,338,942.44. Following the transaction, the director now directly owns 10,149,697 shares of the company's stock, valued at approximately $1,398,526,749.63. The trade was a 1.22% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,469,685 shares of company stock worth $349,669,962. Insiders own 4.17% of the company's stock.
NVIDIA Stock Performance
NASDAQ:NVDA opened at $145.48 on Friday. The company has a market cap of $3.55 trillion, a price-to-earnings ratio of 46.93, a PEG ratio of 1.28 and a beta of 2.12. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $153.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The stock has a fifty day moving average price of $125.72 and a 200-day moving average price of $126.66.
NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business's revenue was up 69.2% on a year-over-year basis. During the same period last year, the company posted $0.61 EPS. As a group, equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.
NVIDIA Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA's dividend payout ratio is presently 1.29%.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. Summit Insights upgraded shares of NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Citigroup reiterated a "buy" rating and set a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a report on Thursday, May 29th. Raymond James Financial upped their price objective on NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research note on Thursday, May 29th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of "Moderate Buy" and an average price target of $173.05.
Read Our Latest Stock Report on NVDA
About NVIDIA
(
Free Report)
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.
Further Reading
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