Citizens National Bank Trust Department reduced its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 25.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,025 shares of the computer hardware maker's stock after selling 17,910 shares during the quarter. NVIDIA makes up 1.2% of Citizens National Bank Trust Department's investment portfolio, making the stock its 23rd biggest holding. Citizens National Bank Trust Department's holdings in NVIDIA were worth $5,747,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC raised its stake in shares of NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock worth $134,877,735,000 after buying an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock worth $74,439,273,000 after buying an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of NVIDIA by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock worth $55,237,367,000 after buying an additional 3,721,331 shares in the last quarter. Norges Bank purchased a new position in shares of NVIDIA during the 4th quarter worth approximately $43,515,504,000. Finally, Northern Trust Corp raised its stake in shares of NVIDIA by 15.8% during 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 buying an additional 36,266,817 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at NVIDIA
In other news, Director Mark A. Stevens sold 935,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the sale, the director directly owned 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. This represents a 9.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the sale, the chief executive officer directly owned 75,548,225 shares in the company, valued at $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,964,800 shares of company stock valued at $734,906,003 in the last 90 days. 4.17% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on NVDA shares. Rosenblatt Securities increased their target price on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, May 29th. TD Cowen raised their price objective on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Jefferies Financial Group lifted their target price on NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. DA Davidson lifted their target price on NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $170.00 price objective (up from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, NVIDIA presently has an average rating of "Moderate Buy" and a consensus target price of $181.22.
Check Out Our Latest Analysis on NVDA
NVIDIA Price Performance
NVDA stock opened at $167.03 on Wednesday. The firm has a 50 day moving average of $146.99 and a 200-day moving average of $129.81. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $174.25. The firm has a market capitalization of $4.08 trillion, a P/E ratio of 53.88, a price-to-earnings-growth ratio of 1.51 and a beta of 2.13.
NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $44.06 billion during 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 company's revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 earnings per share. As a group, sell-side analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.
NVIDIA Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's payout ratio is currently 1.29%.
NVIDIA Company Profile
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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.
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