Wesbanco Bank Inc. Purchases 106,114 Shares of NVIDIA Corporation $NVDA

Key Points

• Wesbanco Bank Inc. increased its stake in NVIDIA by 29.8%, making it the bank's 7th largest investment, with holdings valued at approximately $73 million.
• NVIDIA's recent earnings exceeded expectations, reporting $1.05 EPS and a revenue of $46.74 billion for the quarter, marking a 55.6% year-over-year increase.
• The company announced a quarterly dividend of $0.01 per share, with an ex-dividend date set for September 11th, indicating an annual yield of 0.0%.

Wesbanco Bank Inc. increased its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 29.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 462,046 shares of the computer hardware maker's stock after acquiring an additional 106,114 shares during the period. NVIDIA makes up about 2.2% of Wesbanco Bank Inc.'s portfolio, making the stock its 7th largest holding. Wesbanco Bank Inc.'s holdings in NVIDIA were worth $72,999,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Burkett Financial Services LLC increased its position in shares of NVIDIA by 1.3% during the 2nd quarter. Burkett Financial Services LLC now owns 5,450 shares of the computer hardware maker's stock valued at $861,000 after purchasing an additional 70 shares during the last quarter. Elevate Wealth Advisory Inc. boosted its stake in shares of NVIDIA by 1.7% in the first quarter. Elevate Wealth Advisory Inc. now owns 4,617 shares of the computer hardware maker's stock worth $500,000 after acquiring an additional 77 shares during the period. Earnest Partners LLC lifted its position in shares of NVIDIA by 0.7% in the first quarter. Earnest Partners LLC now owns 11,334 shares of the computer hardware maker's stock worth $1,228,000 after buying an additional 81 shares in the last quarter. Retirement Wealth Solutions LLC raised its holdings in shares of NVIDIA by 2.0% in the second quarter. Retirement Wealth Solutions LLC now owns 4,172 shares of the computer hardware maker's stock worth $659,000 after buying an additional 81 shares during the period. Finally, High Note Wealth LLC grew its stake in NVIDIA by 0.5% in the first quarter. High Note Wealth LLC now owns 17,873 shares of the computer hardware maker's stock worth $1,937,000 after purchasing an additional 91 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Stock Down 0.7%

NVIDIA stock traded down $1.19 during midday trading on Monday, hitting $175.48. The stock had a trading volume of 42,793,635 shares, compared to its average volume of 233,524,422. The company has a current ratio of 4.21, a quick ratio of 3.60 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average price of $175.73 and a 200 day moving average price of $143.85. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $184.48. The stock has a market cap of $4.26 trillion, a P/E ratio of 49.99, a P/E/G ratio of 1.28 and a beta of 2.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, August 27th. The computer hardware maker reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.04. NVIDIA had a net margin of 52.41% and a return on equity of 101.74%. The company had revenue of $46.74 billion for the quarter, compared to the consensus estimate of $45.65 billion. During the same period in the previous year, the business earned $0.68 EPS. The company's revenue was up 55.6% on a year-over-year basis. NVIDIA has set its Q3 2026 guidance at EPS. Research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be given 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 of this dividend is Thursday, September 11th. NVIDIA's dividend payout ratio (DPR) is 1.14%.

Analysts Set New Price Targets

A number of research firms recently weighed in on NVDA. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $225.00 price target (up previously from $185.00) on shares of NVIDIA in a report on Thursday, August 28th. Oppenheimer restated an "outperform" rating and set a $225.00 price objective (up from $200.00) on shares of NVIDIA in a report on Thursday, August 28th. Bank of America increased their price target on shares of NVIDIA from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. TD Cowen raised their price objective on shares of NVIDIA from $140.00 to $235.00 and gave the stock a "buy" rating in a research note on Tuesday, August 19th. Finally, New Street Research lifted their price target on shares of NVIDIA from $200.00 to $235.00 and gave the company a "buy" rating in a report on Friday, September 12th. Four analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $208.47.

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 30,500 shares of the business's stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $176.40, for a total value of $5,380,200.00. Following the completion of the sale, the chief financial officer directly owned 2,883,402 shares in the company, valued at approximately $508,632,112.80. The trade was a 1.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen C. Neal sold 28,000 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $177.58, for a total transaction of $4,972,240.00. Following the completion of the transaction, the director owned 143,410 shares in the company, valued at $25,466,747.80. This trade represents a 16.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,914,341 shares of company stock worth $662,228,310 over the last quarter. Company insiders own 4.17% of the company's stock.

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.