NVIDIA Corporation $NVDA Shares Acquired by First County Bank CT

Key Points

• First County Bank CT increased its NVIDIA stake by 10.1% in the third quarter, adding 4,495 shares to hold 49,216 shares valued at about $11.24 million.
• NVIDIA reported quarterly earnings of $2.22 per share and $96.22 billion in revenue, beating analyst estimates; revenue rose 105.9% year over year.
• The company authorized a $150 billion share-repurchase program, while analysts surveyed by MarketBeat gave the stock an average “Buy” rating and an average price target of $318.85.

First County Bank CT grew its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 10.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,216 shares of the computer hardware maker's stock after buying an additional 4,495 shares during the quarter. NVIDIA makes up 5.0% of First County Bank CT's portfolio, making the stock its 3rd biggest holding. First County Bank CT's holdings in NVIDIA were worth $11,240,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Ring Mountain Capital LLC boosted its stake in NVIDIA by 3.3% in the 3rd quarter. Ring Mountain Capital LLC now owns 64,078 shares of the computer hardware maker's stock worth $14,634,000 after purchasing an additional 2,049 shares during the period. McGlone Suttner Wealth Management Inc. raised its position in shares of NVIDIA by 7.7% during the third quarter. McGlone Suttner Wealth Management Inc. now owns 34,544 shares of the computer hardware maker's stock valued at $7,889,000 after buying an additional 2,468 shares during the last quarter. PCA Investment Advisory Services Inc. raised its position in shares of NVIDIA by 2.0% during the third quarter. PCA Investment Advisory Services Inc. now owns 24,466 shares of the computer hardware maker's stock valued at $5,588,000 after buying an additional 470 shares during the last quarter. Jericho Financial LLP raised its position in shares of NVIDIA by 0.7% during the third quarter. Jericho Financial LLP now owns 45,398 shares of the computer hardware maker's stock valued at $10,368,000 after buying an additional 294 shares during the last quarter. Finally, Heffernan Advisory Inc. purchased a new position in shares of NVIDIA in the third quarter worth $315,000. Institutional investors own 65.27% of the company's stock.

NVIDIA Stock Up 2.3%

Shares of NVDA opened at $206.65 on Wednesday. The company has a market cap of $4.98 trillion, a PE ratio of 26.13, a P/E/G ratio of 1.55 and a beta of 2.21. NVIDIA Corporation has a 52-week low of $164.27 and a 52-week high of $243.37. The business has a fifty day moving average of $221.45 and a 200 day moving average of $204.44. The company has a quick ratio of 3.85, a current ratio of 4.59 and a debt-to-equity ratio of 0.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share for the quarter, topping analysts' consensus estimates of $2.09 by $0.13. NVIDIA had a net margin of 63.66% and a return on equity of 96.04%. The company had revenue of $96.22 billion for the quarter, compared to analyst estimates of $92.27 billion. During the same period in the prior year, the company posted $1.05 EPS. The firm's revenue for the quarter was up 105.9% on a year-over-year basis. On average, sell-side analysts expect that NVIDIA Corporation will post 9.30 EPS for the current year.

NVIDIA announced that its board has authorized a stock repurchase program on Monday, September 28th that authorizes the company to buy back $150 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 2.8% of its stock through open market purchases. Share buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 10th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, September 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. NVIDIA's dividend payout ratio (DPR) is presently 12.64%.

Insider Activity

In related news, Director Mark Stevens sold 622,239 shares of the business's stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $231.62, for a total value of $144,122,997.18. Following the completion of the sale, the director owned 2,336,531 shares in the company, valued at approximately $541,187,310.22. The trade was a 21.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 34,918 shares of the stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $219.05, for a total transaction of $7,648,787.90. Following the transaction, the chief financial officer owned 765,103 shares in the company, valued at approximately $167,595,812.15. The trade was a 4.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,766,118 shares of company stock valued at $399,450,353. Corporate insiders own 3.94% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NVDA. Stifel Nicolaus set a $315.00 target price on shares of NVIDIA in a research report on Thursday, August 27th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $350.00 price target on shares of NVIDIA in a report on Thursday, October 1st. Rothschild & Co Redburn boosted their price target on shares of NVIDIA from $300.00 to $325.00 in a research note on Thursday, August 27th. Wedbush increased their price objective on shares of NVIDIA from $330.00 to $345.00 and gave the company an "outperform" rating in a report on Thursday, August 27th. Finally, President Capital raised their price objective on NVIDIA from $295.00 to $330.00 in a research report on Thursday, August 27th. Five equities research analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $318.85.

Trending Headlines about NVIDIA

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: The sector recovery helped NVIDIA rebound after four consecutive losing sessions. Some coverage also described the recent pullback as a potential buying opportunity, citing the company’s strong revenue growth and continued demand for AI chips. Nvidia stock up over 3%: what's driving Tuesday's rally?
• Positive Sentiment: NVIDIA’s proposed DSX POD modular design aims to shorten AI-factory deployment to 14 days. Faster installation could let customers put GPUs to work and generate returns sooner, potentially supporting infrastructure demand. Nvidia's New 14-Day AI Deployment Goal Could Unlock Faster Growth
• Neutral Sentiment: Reports say NVIDIA is asking cloud and data-center partners to ensure at least 51% of services sales come from customers outside China, in response to U.S. export rules. The move may help partners comply, but the reports do not quantify the effect on NVIDIA’s sales. What Is Nvidia Asking Cloud Clients To Change Under New China Rules?
• Negative Sentiment: Broader worries about the AI trade remain a headwind: reports point to a substantial recent decline in AI-stock valuations and hedge funds reducing exposure. A warning that Chinese AI-chip competitors could expand overseas adds to uncertainty ahead of NVIDIA’s November 17 earnings report. AI Stocks Lose $5 Trillion in 3 Weeks as Hedge Funds Go Underweight AI

NVIDIA Profile

NVIDIA Corporation NASDAQ: NVDA is a technology company that designs graphics processing units (GPUs), accelerated computing platforms, networking products and related software. Its technologies support artificial intelligence, machine learning, scientific computing, data analytics, professional visualization and computer graphics.

The company's products include GeForce GPUs for gaming and personal computing, data center GPUs and systems for AI and high-performance computing, and networking solutions used to connect and manage large-scale computing infrastructure.

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